Aluma, the international hotel chain operating under the Isrotel group, has marked its entry into the Rome hospitality market with the acquisition of the Savoy Hotel, The Jerusalem Post reported.
The historic preservation property, which is situated on the renowned Via Vento Street, was purchased for approximately €68m ($75m).
Known for its historic significance and prime location, The Savoy Hotel features a total of 130 guest rooms.
It also features a range of guest amenities, including dining facilities, commercial spaces, and a rooftop bar.
The hotel is set to undergo a substantial renovation, with an investment of €30m planned before its reopening.
Aluma aims to unveil the revamped hotel under its brand during the third quarter of 2026.
This move is part of a broader strategy that includes the development of an ultra-luxury suite hotel on Via de la Scrope, in the heart of Rome's historic district, the report added.
Once open, the new hotel will feature 36 spacious suites, each with balconies overlooking the main street.
The property will also have dedicated commercial areas, a presidential suite, a patisserie cafe, and a chef's restaurant.
The Aluma chain, which was officially launched in March this year, is already present in Greece with the opening of two hotels in Athens, the Skylark Hotel and the Anise Hotel.
A third Athens hotel, the ADIA Hotel, is scheduled to open in the first quarter of 2025.
The Jerusalem Post quoted Isrotel chain manager Lior Raviv as saying: “The strategy of the ALUMA chain is based on opening hotels in the most touristic cities in Europe.
“As a first step abroad, the company chose Athens and Rome as two central destinations for entrepreneurship and development of hotel properties.”
Raviv added: “As a sister company of Isrotel, Aluma is driven by our approach to hospitality as a way of life, with global standards of perfection and excellence.
“We intend to promote the company and the Aluma brand as a chain that will provide an answer to the entire tourist market in the world, as well as to the Israeli tourist with a wide range of hotels where its guests will enjoy quality and unique hospitality experiences.”
