Italian hotel entrepreneur Antonio Batani has bought the famed Grand Hotel in Rimini on the Adriatic coast of Italy from disgraced real estate businessman Danilo Coppola for EUR 65 mln. Opened in 1908, the luxury 170-room hotel became famous after serving as the set for several films by film maker Federico Fellini. The turnover of the hotel is estimated at about EUR 10.5 mln per annum, according to newspaper Il Sole 24 Ore. Batani is acquiring the hotel through its investment vehicle Select Hotels, which also owns the Palace hotel in Milano Marittima.
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