PORTOFINO, Liguria — Splendido, the clifftop hotel above this Ligurian fishing village, reopens for the 2026 season as new Deloitte research names Italy the most attractive market in Europe for luxury hotels.
Once a Benedictine monastery, the hotel now belongs to Belmond, the luxury arm of LVMH, the French conglomerate that owns Louis Vuitton and Dior. It has drawn famous guests for more than a century, from Edward VIII to Elizabeth Taylor and Maria Callas. Designed by the Martin Brudnizki Design Studio with landscape architect Marco Bay, the project has renewed one of the Riviera’s landmark hotels while protecting its heritage.
“Luxury is a segment that over time does not feel the swings of the global economy. Investing in luxury, generally, is a bet already won for big investors,” says Fabio Lo Verde, professor of the sociology of consumption at the University of Palermo.
Six in 10 investors put Italy ahead of Greece at 11 percent and Portugal at 10 percent, according to the Deloitte study presented in May. Money is shifting to historic buildings over new construction.
The work proceeded in phases, from the pool area and the Splendido Grill in 2023 to the lobby in 2024 and the main building. Rooms and suites were rethought, more spacious and full of light. The hotel now has 52 rooms.
Ligurian craftsmanship
The interiors celebrate Ligurian craft. Lavagna stone, a local slate, Genoese terrazzo, woven rattan inspired by the craft tradition of Chiavari, Liguria, and ceramics from Albissola create a distinctly local language.
The bar to be seen in is Baratta Sedici, named after its address on Salita Baratta, with a backlit white onyx counter and cocktails inspired by the Riviera.
“Investing in luxury, generally, is a bet already won for big investors”
The Dior Spa Splendido, which opened in 2025, is the French house’s first permanent spa in Italy. Set over two floors, it includes a terrace looking onto the Gulf of Tigullio and wellness treatments inspired by slow luxury, an approach that favours time and quality over haste.
The rooms remain few. “Those who live on and in luxury cannot always grant themselves exclusivity. Fewer rooms means fewer people, which is certainly an advantage for anyone seeking uniqueness,” Lo Verde observes.
Strict building rules make new construction rare in Portofino, one reason the village commands some of Italy’s highest hotel rates. Today the hotel stands as a destination in its own right, remaining, for now, one of a kind.
