A rendering of Baglioni Hotels Luna Venice, Italy. Credit: Palace Resorts/Accesswire.

Palace Resorts has further bolstered its presence in Europe with the acquisition of the remaining stake in Italian hotel company Baglioni Hotels & Resorts.

Palace Resorts purchased a 75% stake in Baglioni Hotels & Resorts in November last year and now fully owns the hospitality group.

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Palace Resorts executive vice-president Gibran Chapur said: “I would like to thank Guido Polito for his leadership and great work done over the past years by taking Baglioni Hotels and Resorts to the highest standards in luxury Italian hospitality.

Palace Resorts has also appointed Massimo Baldo as its new vice-president for Europe.

Massimo brings to the role more than ten years of experience and a track record of accomplishments in the hospitality sector.

Chapur added: “I also welcome Massimo Baldo, who has a deep understanding of the European Market and whom we are sure will deepen and expand the Palace Resorts footprint in the greater European Market by taking our Le Blanc Spa Resort brand across the world, as well as growing our Italian luxury brand, Baglioni.”

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Prior to this role, Baldo was at the NH Hotel Group, where he commenced his career as corporate internal audit director and later served as the managing director of NH Mexico and Cuba.

In 2022, he became director of regional operations and asset management, overseeing the Northeast Italy region.

Baldo said: “I believe that the ambition and strong personal and professional values of Palace Resorts will keep leading all of our brands to extraordinary results.

“Baglioni Hotels & Resorts is a highly recognised brand in Italy and Europe thanks to its high-quality standards of product and service and I am eager to continue developing the brand and take it to new heights.”

Additionally, Palace Resort announced that its new hotel in Forte dei Marmi is scheduled to open in 2026, with additional destinations yet to be disclosed.