Gruppo Statuto, Rome, is planning an initial public offering for its hotels division, Financial Times reported on Monday citing people close to the matter.
Gruppo Statuto, privately held by Guiseppe Statuto, has reportedly hired JPMorgan Chase & Co. and Banca IMI to prepare for the listing, which will spin off the company’s luxury hotel holdings.
Gruppo Statuto’s portfolio includes the 118-room Four Seasons Hotel Milano, located in Milan, and the 225-room Hotel Danieli, a Luxury Collection Hotel, located in Venice, Italy. The group’s value is estimated to be greater than €1.5 billion (US$2 billion).
