STATE COLLEGE, Pa., April 28, 2011—Officials of Shaner Corporation today announced that the company has formed a new division, Shaner Italia, SRL to own and operate hotels in Italy and has formed its first joint-venture acquisition there.
The company has acquired a major ownership position in Il Ciocco Hotel & Resort (top left photo), a 180-room luxury resort in picturesque Barga, Italy, in the Apennine Mountains of the Tuscany region.
The original owners, the Marcucci family, a prominent Italian family, will retain an ownership interest in the property.
The hotel will undertake a multi-million Euro renovation and convert to Marriott’s Renaissance brand late this year or in early 2012 under the name Renaissance Il Ciocco Tuscany Resort & Spa. Shaner Ciocco, a subsidiary of Shaner Italia, will manage the five-star level hotel.
“There is growing worldwide demand for internationally recognized hotel brands,” said Lance Shaner (lower right photo), chairman and CEO of SHG. “Italy is a great hotel market but requires strong local knowledge for long-term success.
“We will look for opportunities ranging from luxury hotels to upscale focused-service properties.”
Headquartered in State College, Pa., Shaner Hotel Group is part of the Shaner Companies, a diversified, privately held company that owns and operates investments in the lodging, investment, energy and professional service sectors. Shaner Hotel Group is a developer/owner/operator that currently owns and manages more than 30 hotels.
For more information about Shaner, please visit the company’s web site, www.shanercorp.com
Contact:
Justin Shaner (media), (786) 472-5931, jshaner@thejlsagen
Plato Ghinos (development), (814 234-4460, pghinos@shanercorp.com
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