The official announcement has just arrived: the tender for the completion of the recovery and management of the Grand Hotel of San Pellegrino has been awarded to the American Group “EKN Development” of Newport Beach, California . The offer was therefore accepted by the Municipality of San Pellegrino Terme, which will “deliver” the Grand Hotel to the Americans for 99 years.
"A decisive and fundamental step in the path of relaunching tourism and spas undertaken by our Municipality starting from the Program Agreement signed in 2007 with the Lombardy Region and the Province of Bergamo - the Municipality informs -. The Grand Hotel constitutes, together with the Casino, the symbolic monument that allows San Pellegrino Terme to be known nationally and worldwide not only as a "city of water" in all its expressions, but also as an "Art Nouveau city". It is therefore essential that this monumental complex, acquired by the Province in 2000 and subsequently transferred to the Municipality, be preserved and enhanced to continue to be, in addition to a testimony to our great history, a central resource in the tourist development of San Pellegrino Terme.
The project proposal presented by EKN Development responds in the best and most complete way to this objective, providing for the complete recovery of the Grand Hotel and the adjoining park as a luxury hotel, that is, with the destination that for many years was only hoped for and dreamed of. In addition to the satisfaction for the quality of the proposal presented by EKN Development, we would like to underline with extreme pleasure the enthusiasm shown by the CEO of the Group Ebbie K. Nakhjavani towards our town and demonstrated by the choice to bet and make such an important investment for the recovery of our Grand Hotel.”
The proposal presented, which will allow EKN Development to manage the Grand Hotel complex for 99 years, is not a simple renovation of the upper floors of the building, but a real rebirth project , capable of bringing the Grand Hotel back to its past glory, restoring its role as a shining beacon in the heart of San Pellegrino Terme.
The proposal presented includes the construction of 118 rooms that evoke the sophistication of Italian villas from the “Belle Epoque” period and that will be located, as in the past, on the four floors above the ground floor. The basement will house a revolutionary and cutting-edge spa that will use the municipal springs with an adjoining “speakeasy lounge” that will take you back to a bygone era. The ground floor will house a refined restaurant and luxury shops for a touch of exclusivity, while the attic floor under the dome will include a space that opens onto a library-bar and an outdoor terrace, ready to host meetings, conferences and group events.
The outdoor area, imagined as an open-air oasis, will host a bar overlooking an infinity pool and a hot tub, while the back of the Grand Hotel will feature bocce courts , seating around an outdoor fire and lush gardens . The investment for the restoration and recovery of the property is quantified at € 64,226,427.00 with a public participation of €5 million (€3 million: contribution from the Lombardy Region; €2 million: contribution from the Municipality), while the indexed annual rent recognized to the Municipality amounts to €10,000.00.
“We are honored to have been entrusted with a project of such historic significance in a city revered as a global brand ambassador,” said Ebbie K. Nakhjavani , founder and CEO of EKN Development. “We look forward to partnering with the City to bring our concept to life and put the iconic Grand Hotel in San Pellegrino Terme back on the map as a global destination.” EKN intends to re-deliver the Grand Hotel as a premium hospitality offering that seamlessly integrates into the fabric of San Pellegrino Terme, drives tourism demand to the market, and supports the local economy to create a vibrant hub of activity and growth.
English : "The difficulties and concerns faced in recent years in trying to identify a path that would allow the recovery and reactivation of the Grand Hotel have been many - the municipal administration continues - but today we welcome with great satisfaction and confidence this news that turns the spotlight back on this extraordinary monument and historical heritage of our town at a national and international level. We are certainly only at the first step of a path that will still be long, but we trust that the ability, quality and strength of the EKN Development Group, known throughout the world for numerous other extraordinary and innovative investments made and in the process of being made in the hotel sector, combined with the words of enthusiasm and admiration expressed for our town by Ebbie K. Nakhjavani in the press release announcing the intervention on the Grand Hotel and which is attached in copy, can soon lead to giving new life and splendor to this Art Nouveau jewel of ours and complete, with this new fundamental piece, the tourist relaunch of San Pellegrino Terme.
The awarding of the tender for the restoration of the Grand Hotel in San Pellegrino Terme to the EKN Development Group marks a crucial moment for the economic future not only of San Pellegrino Terme but of the entire Brembana Valley . The extraordinary importance of the intervention and the size of the overall investment are already attracting the attention of several economic operators, ready to invest in the area. The renewed interest in San Pellegrino Terme, which sees the involvement of international investors, is creating a climate of great excitement and new opportunities for the local economy. The restoration of the Grand Hotel, which will be transformed into a luxury hotel with 118 rooms , is a powerful driving force for the tourist and commercial development of the entire area. The enthusiasm expressed by the CEO of EKN Development, Ebbie K. Nakhjavani, testifies to the extraordinary potential of San Pellegrino Terme as a prestigious tourist destination. The rebirth of San Pellegrino Terme, which began with the signing of the Program Agreement in 2007 and is already underway thanks to recent major investments, is creating the basis for an economic revival that promises to have a positive and lasting impact on the entire community of the Brembana Valley.”
Source: La Voce delle Valli
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