IHG Hotels & Resorts has signed a 114-room Kimpton in Rome's Via Veneto district, targeting a 2029 opening and marking the boutique luxury brand's debut in the Italian capital.

The deal lifts Italy's Kimpton count to two properties, joining Kimpton Villa Miramare Taormina, and will become IHG's third hotel in Via Veneto. It also pushes IHG past the 50 open and pipeline properties threshold it reached in Italy this year.

What is in the project?

The asset sits inside Castello Sgr's Rome Hotel Development Fund, whose sole investor is 1AM Rome Prime Real Estate Development Fund. Castello Sgr runs Italian alternative-investment funds focused primarily on real estate.

The hotel will repurpose an existing building into a luxury lifestyle property featuring:

• A rooftop bar and restaurant
• An internal courtyard
• Wellness facilities
• Dedicated meeting and event space
• A restored theatre turned into a multifunctional arts and events venue

How does it fit IHG's Rome portfolio?

The signing adds a tenth asset to IHG's Luxury & Lifestyle cluster in Rome, joining InterContinental Rome Ambasciatori Palace and Six Senses Rome alongside the upcoming Hotel Alexandra Rome, Vignette Collection.

"Rome remains one of Europe's most attractive luxury travel destinations, combining global appeal, rich cultural heritage and a thriving hospitality market," Willemijn Geels, Vice President, Development, Europe, IHG Hotels & Resorts, said. "Italy is a priority market for IHG and one that has experienced tremendous growth in recent years, making Rome the ideal location to introduce Kimpton with this exceptional project. With its prime location, distinctive design vision and unique theatre concept, the property will bring a new Luxury and Lifestyle offering to Rome while reflecting the individuality and local character that the brand is known for around the world."

Who is backing the deal?

Castello Sgr owns the asset through its dedicated Rome vehicle, with 1 Asset Management as the sole investor. Giampiero Schiavo, CEO of Castello S.G.R., framed the transaction within a long-running hospitality focus on landmark assets.

"This deal reinforces Castello Sgr's long-standing focus on the hospitality sector, pursuing a strategy centred on landmark properties and the creation of experiential destinations designed to appeal to a growing base of discerning international guests," Schiavo said. "Rome, in this respect, represents a unique destination, currently undergoing a profound renewal of its high-end hospitality offering and still presenting significant opportunities for distinctive and innovative projects, capable of generating attractive long-term value for our investors."

Tomas Langaitis, Fund Partner at 1 Asset Management, said: "We are pleased to be partnering with IHG to bring the Kimpton brand to Rome. The property represents a unique opportunity to create a landmark lifestyle hotel in one of the city's most prestigious districts. Together, we will deliver a destination that celebrates Rome's heritage while offering a contemporary guest experience that resonates with international travellers and local residents alike."

What happens next?

The project moves into asset conversion, design finalisation and municipal approvals ahead of the targeted 2029 opening, with construction timelines dependent on permitting milestones in Rome's historic centre. Investors should track subsequent IHG filings on additional Luxury & Lifestyle inventory in the capital, while Castello Sgr is positioned to extend its Rome Hotel Development Fund with adjacent hospitality assets if the conversion delivers against its underwriting thresholds.