The company is set to develop its first hotel project in Italy – turning a listed office building in the centre of Rome into a Ruby Hotel.
ECE is planning the development and realisation of a hotel operated by “Ruby Hotels” in Rome. With the project, the group company ECE Work & Live, as planned, expands its development activities in this asset class to international markets as well as to the conversion of existing properties. The plans provide for the conversion of a listed property from the early 19th century, which was used as an office building until recently, into a Ruby Hotel with around 165 rooms.
The property is centrally located on Via Nazionale in the centre of Rome and thus not far from the main train station Roma Termini in the immediate vicinity of many tourist attractions. Initial demolition work for the project has already begun. Construction is scheduled to start in the fall of 2023, with opening scheduled for spring 2025. The investment volume is around 60 million euros.
The project is ECE Work & Live’s first hotel development in Italy and the first joint project with the fast-growing lean luxury hotel group Ruby Hotels, which focuses on affordable luxury, modern design and efficient processes and is planning numerous new hotels throughout Europe. The Otto family holds a 25 per cent stake in the Ruby Group.
