Il Sole 24 Ore

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Cipriani in South Beach with Crédit des Alpes

Cipriani buys a hotel in Miami, with the help of a Swiss Bank. It might seem complicated, but it is not. The Venice-rooted group led by Arrigo Cipriani and by his son Giuseppe, is now adding hotels to the restaurant business. In that context, they acquired the Saxony Hotel at South Beach in a USD 250 million maxi-deal. The Saxony will be restructured and will reopen at the end of 2009, with the Cipriani Ocean Resort and Club Residences flag. Crédit des Alpes, the international banking group with branches in Geneva and Lugano headed by Fabrizio Cerina directed the operation. Cerina’s bank is also a partner of the Cipriani’s, as the second main shareholder, in the Cipriani London, the fashionable restaurant in the English capital.

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