Falkensteiner Michaeler Tourism Group (FMTG) is investing €140 mln in the Falkensteiner Park Resort Lake Garda project in Salò, Italy.

Falkensteiner

Falkensteiner

The opening of the five-star Premium Collection hotel and 170 Premium Living Apartments will take place in two phases.

In the first phase, which will be completed in 2025, the hotel and 96 of the 170 premium living apartments will be built. The remaining 74 apartments will be built by 2027 in the second phase.

The design of the new resort on Lake Garda, being built on the site of a former mineral water factory, is by Matteo Thun & Partners, while the botanical park was designed by landscape architect Joao Nunes of Proap Landscape Architecture.

Erich Falkensteiner, president of FMTG, said: ‘We have been looking for a long time for a property that meets our high standards and are more than happy to have found the perfect place in Salò.’

Otmar Michaeler, CEO of FMTG, added: ‘With our latest project, we are creating a premium product that will not only fit perfectly into the region and increase regional added value here, but also represent an extremely attractive destination for our main markets – Italy, Germany, Switzerland and Austria.’

The "for all" hotel with 97 rooms and suites appeals to families, couples as well as groups of friends, with an extensive sports offer and a creative culinary concept.

The 170 Premium Living Apartments will be spread over 11 buildings and the premium service will allow owners to enjoy all the amenities of the resort despite maximum privacy.

The property will feature LEED Pre certification for ecological construction, which was confirmed even before construction began.

The picturesque town of Salò on the southwestern shore of Lake Garda is characterized by Mediterranean vegetation and a mild climate and features excellent train and plane connections via Milan, Verona and Venice.

FMTG is being advised on the project financing by Cap Advisory, a financial advisory firm based in Milan. In addition to FMTG, the Kerbel family from Bavaria and Robert König's group from Vienna are also involved in the project as co-investors.

FMTG has more than 30 hotels and residences in six European countries (Austria, South Tyrol/Italy, Slovakia, the Czech Republic, Croatia, and Serbia).