The Montecatini five-star hotels project will transform two historic properties into luxury accommodation by the first half of 2027. Egyptian-born entrepreneur Fouad Hassoun, president of Kiwi Beach Resorts, is leading the initiative. He acquired the three-star Hotel La Pia and the former Hotel Impero at auction. Now, he plans to reposition both properties towards the upper end of the market.

Hotel La Pia currently offers around 40 rooms. Following its renovation, the property will reopen as Rossini, a five-star hotel with approximately 20 rooms. Meanwhile, the former Hotel Impero occupies around 2,500 square metres and has remained vacant for years. Hassoun plans to rename it Bellini and create a five-star property with around 40 rooms.

Both projects will reduce the original room capacity to align with their new luxury positioning. In addition, architect and interior designer Marco Piva will oversee the design of the two hotels. The renovation and repositioning will require several million euros in additional investment, although Hassoun has not disclosed the exact amount.

The acquisitions follow earlier reports that an international investment fund had purchased both properties at auction. The original sale prices provide some context for the scale of the operation. In March 2025, Hotel La Pia carried a starting auction price of €380,000, with a minimum offer of €285,000. For the former Hotel Impero, the starting price stood at €710,000, with a minimum offer of €530,000.

Hassoun brings substantial experience in tourism and hospitality. He founded Cairo-based tour operator Flash Tour in 1985 and later launched Phone&Go in Italy. Today, he chairs Kiwi Travel, a destination management company specialising in Sicily, Sardinia and Zanzibar. He also leads Kiwi Beach Resorts, which operates seven four-star hotels across Sicily and Sardinia, with nearly 870 rooms in total.

The Montecatini five-star hotels initiative adds to the Tuscan spa town’s wider redevelopment efforts. It follows a separate €100 million plan to enhance part of the town’s thermal facilities, promoted by Human Company founder Claudio Cardini. Both new hotels aim to reopen in the first half of 2027, ahead of the summer season.