Mangia’s is banking on luxury: 380 million in investment by 2028

Mangia’s has pretty much covered every avenue in the tourism industry. Starting out as a small tour operator, it went on to manage and then own its own hotels, before becoming the Italian partner of major international investment funds such as Blackstone and Arrow Global, with whom it now intends to step up its efforts to strengthen its position in the luxury hotel market. The Sicilian group has already allocated resources to upgrade its 3- and 4-star properties to 5-star luxury standards, investing a total of 47 million between 2023 and 2025 (of which 15.2 million is for the refurbishment of its own properties and 32 for acquisitions). These investments have enabled the group to upgrade part of its portfolio, which now totals 17 properties across Sicily and Sardinia, “a figure that is expected to rise to 21 by next year”, explains the group’s chairman and CEO, Marcello Mangia. Looking to the future, there is no shortage of resources to be deployed: with the support of banks and partners, the group estimates investments of around 380 million over the three-year period 2026–2028.

“The aim is to become the leading management company in the Italian hospitality sector, exceeding 5,000 rooms,” explains the CEO, describing how working alongside an international giant such as Blackstone has so far shaped the group’s organisational development, helping to strengthen its processes, managerial skills and know-how. Today, Mangia’s is a minority partner in a joint venture with Hotel Investment Partners (HIP), a company controlled by Blackstone and 35 per cent owned by Singapore’s sovereign wealth fund GIC, comprising 61 hotels and over 2,000 rooms, which, according to the latest rumours, could begin the process of listing on the stock exchange as early as this autumn.

Mangia’s’s push into the luxury hospitality sector is, however, already underway: before the summer, the company announced Icona’s Collection, the new brand dedicated to high-end hospitality, which includes Icona’s Costa Ragusa Resort and the Grand Hotel et Des Palmes in Palermo. For the Sicilian group, the luxury segment is undoubtedly the most strategic and rewarding today, although it does not entirely rule out the future launch of a four-star brand offering superior and all-inclusive packages.

At Costa Ragusa, where the group has recently reopened and repositioned two former Club Med resorts in partnership with Arrow Global, the project is continuing. A third hotel, the Donnafugata Golf Resort & Spa – which has also been closed for a long time and features two golf courses – will be added to the destination in 2027. The aim is to build a high-end international destination, capitalising on its proximity to Comiso Airport. In April 2027, in Scicli, in the Ragusa area, Mangia’s will also begin managing a new 29-room boutique hotel, converted from a former 17th-century convent, a property that will form part of the Icona’s Collection.

However, this growth is not limited to the major islands. The group has announced a new project in Cervinia, confirming its commitment to the mountains, which are now regarded as more than just a means of countering seasonal fluctuations. This project is linked to Borio Mangiarotti Reim, which in August announced the start of the redevelopment of the historic Hotel Breuil-Cervinia, a building originally constructed in 1937, which will be transformed into a new five-star hotel managed by Mangia’s, with 135 rooms and scheduled to open for the 2028/2029 winter season. “The rediscovery of the mountains is solid, substantial and has a bright future,” emphasises Marcello Mangia, noting how some Alpine resorts are now characterised by two peak seasons, both winter and summer.