Italy leases abandoned castles to luxury hoteliers for cash
Skift Take
The project is modeled after Spain’s Paradores, 25 of which were recently shut down indicating not even they were safe from the recession. The Italian project might provide a tourism boost, but won’t be a saving grace.
Disused castles, fortresses, prisons and islands in Italy are to be converted into luxury hotels in a bid to boost tourism and fill the coffers of the debt-laden country.
The initiative is being modelled on Spain's Paradores, luxury retreats located in monasteries, castles and other historic buildings, and could help chip away at Italy's 1.9 trillion euro debt.
The Italian government has drawn up a list of abandoned architectural jewels around the country which it intends to offer for lease to private companies.
Leases will initially last for 50 years, with an option to extend for another 25
