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Milan - New York, 6th of January 2020

Cipriani to open in Milan with Merope Asset Management: Palazzo Bernasconi will host the milanese house of the Cipriani Group.

Merope Asset Management, announces the signing of a thirty-year lease with the Cipriani Group for the entire Palazzo Bernasconi. Cipriani, an international leader in the high-end food, hospitality and leisure industry, will be the tenant for the entire property located at the corner between Corso Venezia and Via Palestro in Milan. The asset is known as one of the most historical and iconic building of Milan city center.

Merope-Cipriani-Bernasconi-Milano

The asset, acquired by Merope Asset Management in September 2018, includes 4 floors above ground and two basement floors for a total surface of approx. 4,000 square meters. Following the acquisition, Merope is undertaking a deep redevelopment and repositioning of the building, which will host the new Cipriani concept. The group has therefore chosen Milan as a new destination for its business, after some of the most important cities in the world such as New York, Miami, London, Monaco, Abu Dhabi, Dubai e Hong Kong.

Palazzo Bernasconi will host two Cipriani restaurants, a boutique hotel, a club bar, a wellness and fitness center. Merope Asset Management will complete the refurbishment and deliver the building to Cipriani in September 2020. The final opening is scheduled for 2021.

Cipriani’s Palazzo Bernasconi will be the second presence of the group in the Italian market, following the legendary heritage of the family in Venice, where the group runs the historical Harry’s Bar and Harry’s Dolci. While the group in Venice is managed by Arrigo Cipriani, Giuseppe, his son, is managing the global leading activities of the group that includes restaurants, hotels and luxury clubs all around the world.

Pietro Croce, founder and Ceo of Merope Asset Management, commented: “We are proud and honored that Palazzo Bernasconi, an absolute landmark of Milan, was chosen by a brand such as Cipriani. The group has deep roots in Italy and, at the same time, it is very well known internationally. Giuseppe Cipriani brought the highest standards of the made-in-Italy to the entire world; working with him and his team is exciting. The group represents an absolute Italian excellence, which will grant our property the unique flavor it deserves. Cipriani’s opening will for sure help boosting the extraordinary growth that Milan is currently experiencing”.

Giuseppe Cipriani, head of the Cipriani Group worldwide, added: Cipriani was born in Venice in 1931 with Harry’s Bar and was then exported throughout the world. We are now coming back home, to Italy, in Milan, with an innovative concept that combines lifestyle, food, top-level hospitality and leisure. We were looking for the right location and for a property aligned to our expectations. Palazzo Bernasconi is perfectly matching our image and needs. Milan is growing and competing with other international hubs and the Cipriani group wants to be part of this exceptional development of the city”.