Mandarin Oriental, a leading international luxury hospitality chain, recently announced that it had entered into an agreement with the English investment firm Attestor Capital to redevelop and manage the historic Hotel Cristallo in Cortina d’Ampezzo to relaunch it in view of the Milan-Cortina Winter Olympics. The investment, estimated to be 50 million euros, will be used to expand the hotel and completely renovate it so it will become the benchmark for mountain tourism at international level. The facility will reopen in Summer 2025 as the Mandarin Oriental Resort and will be the first Alpine structure in the Hong Kong-based chain which is currently present in eleven locations in Europe including Italy, the United Kingdom, France, Germany, Switzerland, Spain and the Czech Republic.
At the same time as the Cortina agreement, Mandarin management announced new operations in the “Exclusive Homes” sector, which will add Italian villas to the private luxury residence portfolio held by the group.
This confirms both the attraction of the 2026 Olympics, and the opportunities linked to development of infrastructures in the territory in view of the Games; it also shows the increased interest by large international hospitality groups in Italy, considered to be one of the tourist destinations with higher potential for attraction in Europe, especially for luxury tourism.