1 Asset Management Selects Kimpton Brand for 114-Room Five-Star Hotel in Rome's Ludovisi District

1 Asset Management has chosen the Kimpton brand, part of IHG Hotels & Resorts, for a five-star hotel it is developing in central Rome, the company announced Sept. 30. The 114-room property will occupy the historic Teatro delle Arti building in the Ludovisi district, near Via Veneto, and is expected to open in 2029. It will be the first Kimpton hotel in Rome.

Project Structure and Local Partnership

The development is being carried out through 1 Asset Management's IAM Rome Prime Real Estate Development Fund, with the investment structured through local partner Castello SGR. The arrangement marks 1 Asset Management's first project in Italy, extending the Lithuania-based firm's hotel investment strategy beyond the Baltic and Central European markets where it has previously operated.

Lithuanian studio .YES has been selected to develop the hotel's interior design concept. The studio's prior work includes the Marmorosch, Autograph Collection hotel in Bucharest and Hotel Pacai in Vilnius.

"We are delighted to partner with IHG to bring the Kimpton brand to Rome," said Tomas Langaitis, Fund Partner at 1 Asset Management. "This building offers an exceptional opportunity to create a distinctive hotel in one of the city's most prestigious neighbourhoods. We want it to reflect Rome's heritage while offering a contemporary experience for both international travellers and local residents."

Teatro delle Arti: Planned Amenities and Adaptive Reuse

Once converted, the hotel will include a restaurant, an inner courtyard, wellness facilities, meeting and event spaces, and a rooftop bar. The former theatre auditorium will be restored and adapted for arts and other events, with the aim of making it a destination for both hotel guests and Rome residents. That adaptive reuse approach gives the project a differentiated operating concept, incorporating cultural programming alongside conventional hotel revenue streams such as food and beverage, wellness and events.

The Ludovisi neighbourhood is home to several established luxury hotels, including Nobu, Excelsior, W Rome, Hotel Eden — part of the Dorchester Collection — and The Rome EDITION. A Mandarin Oriental hotel is also scheduled to open near the planned Kimpton property.

Rome's Luxury Hotel Market

The project enters a Rome hotel market that has recorded strong performance at the luxury end. Rome's hotel supply grew approximately 3% in the decade through 2025, while roughly 1,600 rooms are projected to enter the market — equal to about 3.5% of existing supply — with most new development concentrated in the luxury segment. The city reached new peak levels for occupancy and average daily rate in 2025, with real RevPAR more than 40% above 2019 levels. Rome's luxury hotels recorded a 46% RevPAR increase over 2019, indicating that high-end properties have materially outperformed their pre-pandemic baseline.

Kimpton currently operates 16 hotels in Europe and 85 globally, with another 67 properties in development. Seven Kimpton hotels received the Michelin Key distinction this year.

"Since the outset, we have sought properties whose value we can enhance through targeted investment and active management," said Alius Jakubėlis, CEO of 1 Asset Management. "The Rome project is a strong example of this approach. Historic buildings in locations like this rarely come to market. Here, we have an opportunity to create value for both investors and the city by restoring the theatre space and bringing it back into Rome's vibrant cultural life. We recently completed the sale of Grand Hotel Vilnius and continue to manage the Radisson Collection Astorija, located by Vilnius Town Hall Square, which belongs to the category of exceptional properties known as trophy assets. We aim to create another such property in Rome."

1 Asset Management's Broader Hotel Strategy

1 Asset Management has been investing in the hotel sector since 2017, when it launched a strategy focused on hotels near international airports. Its managed funds developed hotels near airports in Vilnius, Riga and Kraków. The Park Inn by Radisson Vilnius Airport Hotel & Conference Centre was sold in 2025, and the Hampton by Hilton Kraków Airport was sold in 2026, completing the Airport Hotels Fund's dispositions. The firm also completed the sale of the Grand Hotel Vilnius, Curio Collection by Hilton, with the transaction closing Sept. 17, 2026.

The firm's remaining hotel holdings include the Hampton by Hilton near Riga Airport and the Radisson Collection Astorija in Vilnius Old Town. 1 Asset Management reports more than €750 million in assets under management and more than 450 investors. In 2025, the company expanded internationally by establishing a presence in Luxembourg through the acquisition of a local management company.

Sources: 1 Asset Management