Cernobbio, Italy — Lake Como is filled with aristocratic villas and hotels that have enchanted the world’s greatest thought leaders and celebrities for centuries. On Wednesday, the owners of the storied Villa d’Este, which has lured celebrity guests like Frank Sinatra, Elizabeth Taylor, Woody Allen, Madonna, Oscar de la Renta, Bill Blass, Gianfranco Ferré, Winston Churchill and Gianni Agnelli, said they formed a collection of hotels aimed at preserving the region’s architectural gems. In addition to their marquee property Villa d’Este, they already own Villa La Massa, a five-star location, which is situated on the banks of the Arno River near Florence.
In a press conference announcing the Villa d’Este La Collezione, its owner Giuseppe Fontana said the firm plans to open two new luxury properties: Palazzo Venezia in Como and Miralago Luxury Apartments in Cernobbio.
Preserving Architectural Treasures
“Every day we strive to enhance the destination on a global scale. Today, Villa d’Este La Collezione marks the beginning of a new chapter within a structured growth and development strategy for our magnificent territory, reaffirming our commitment to raising the standard of luxury hospitality and strengthening our position as a leader in the industry,” Fontana said, adding that the group has a constant eye on further acquisitions.
Palazzo Venezia, Como
Villa d’Este La Collezione
Restoring a Fabled Past
Palazzo Venezia, a 19th-century building located in Piazza Cavour in Como and which faces the lake is expected to open Dec. 6. It will also introduce a new dining experience called Altariva, which includes a lake-view rooftop bar. It will be the first five‑star hotel in Como to join The Leading Hotels of the World, the group said.
Miralago Luxury Apartments, situated in the lakeside town of Cernobbio, will follow in June. The residential property consists of eight luxury apartments that were reimagined by Milan-based design duo Nathalie and Virginie Droulers of Droulers Architecture. It was formerly a four-star property named Hotel Miralago. The upscale residences combine the warmth of a home with the standards of five-star hotel concierge services, as well as privileged access to the facilities of Villa d’Este, including its Sporting Club, swimming pool and Golf Club.
Hotel Miralago will become Miralago Luxury Apartments in Cernobbio.
Villa d’Este La Collezione
The group is also in the earlier stages of revitalizing two key locations starting with the historic Hotel Regina Olga in Cernobbio. Dating back to the late 19th century, the hotel was acquired by Villa d’Este in April. The restoration project involves updating approximately 50 rooms, a restaurant and a bar with generous outdoor spaces. Another architectural jewel, Villa Belinzaghi, which was built in 1860 by former Milan Mayor and banker Count Giulio Belinzaghi, is also in the works. It was previously part of the Villa d’Este estate during the 1950s and 60s and rejoined the portfolio in 2022, reconnecting an essential chapter in Villa d’Este’s history. The updated property is expected to include four suites, two restaurants, a destination bar and cigar lounge, and a private spa featuring an indoor plunge pool and an outdoor pool nestled in the garden.
Fontana lauded Lake Como’s continued allure and its status as one of the world’s top tourist destinations, remarking on the Sultan of Morocco’s visit to Villa d’Este in 1615.
The property, which boasts a 10-hectare park, was originally built in 1568 and named Villa Garovo. It was designed by architect Pellegrino Pellegrini, known as “Il Tibaldi,” as a summer residence for Cardinal Tolomeo Gallio, Bishop of Como.
In 1815 it was acquired by the then Princess of Wales, Caroline of Brunswick, who became the future Queen of England. She originally named it “New Villa d’Este.”
Lake Como’s Eternal Allure
Tourism continues to serve as a major contributor to Italy’s economy, according to the National Statistics Bureau Istat. In 2024, Italy welcomed 129.3 million tourist arrivals. Nights spent rose 2.5 percent year-on-year, with a total of 458.4 million nights, driven by nonresident visitors.
The upcoming Winter Olympic Games is a key driver for new hotel openings this year. The event, which will be held between Milan and Cortina d’Ampezzo, will run Feb. 6 to 22, while the Paralympics will run March 6 to 15. Italy-based Rocco Forte Hotels will cut the ribbon on the five-star hotel under The Carlton banner, with entrances on Milan’s Via Senato and Via della Spiga, on Nov. 6., while the new Rosewood Milan and Six Senses in Milan are expected to open in 2026.
