Corinthia Group has hailed the opening of a brand new outlet in Rome, expected in 2023, as heralding a “new chapter” in its history.

Taking to social media, the group proclaimed that with the opening of its doors at the “iconic” Piazza del Parlamento, Rome, it will be able to continue its legacy in the world of luxury hospitality.

According to Corinthia Chairman and Founder Alfred Pisani the group aims for the hotel, located at the former headquarters of the Bank of Italy, to become “the top hotel in Rome.”

The development of the property is being carried out in collaboration with the Reuben Brothers, and is similarly hailed by the investment and development company as aiming to “create the best luxury hotel in Rome.”

The new hotel is part of a rapid expansion of Corinthia’s portfolio of properties, which in early 2020 – prior to the onset of the pandemic – was forecast to grow from nine to 14.

Aside from the Rome outlet, new hotels were planned for Doha (Qatar), Dubai (United Arab Emirates), Bucharest (Romania), Moscow (Russia), and Brussels (Belgium). The company has since withdrawn from the Dubai project, however.

It was not immediately clear why Corinthia pulled the plug on the project, but with the COVID pandemic hitting international tourism particularly hard, the company has recorded significant losses in recent financial reports.

Most recently, the company revealed it made a loss after tax of €26.4 million in the first half of 2021.