Portrait Milano is a luxury hotel located in Milan’s fashion district, owned by the Ferragamo family. The 73-room property, which opened in December 2022, has quickly become one of the city’s top luxury hotels in terms of revenue per available room. The success of this hotel can provide valuable insights for investors looking to establish new luxury hotels in key markets. Portrait Milano was created in a former seminary building, which was part of a competition to auction the property. The design concept focused on ‘inclusive exclusivity’ and created an open public space in front of the hotel to enhance community engagement.
The hotel’s success can also be attributed to the focus on food and beverage offerings. The restaurants and bars at Portrait Milano, including Beefbar, 10_11, and Rumoure, have generated significant revenue and attracted both hotel guests and locals. The hotel’s innovative dishes, such as reinvented comfort food like pasta bianco, have become popular and contributed to the hotel’s reputation. The emphasis on accessible and recognizable dishes, rather than exotic fusions, has been key to the success of their culinary offerings.
Recruiting the right talent has been crucial for the success of the hotel. Portrait Milano prioritized teamwork, communication, and humility in its company culture, which has led to the hiring of skilled staff in various roles. The hotel’s early success depended on hiring talented chefs, food and beverage managers, and other staff members who aligned with the company’s values. While recruitment may be challenging due to the high standards set by the company, the emphasis on teamwork and training has been instrumental in managing the hotel’s operations.
Hosting a series of events has helped solidify Portrait Milano’s reputation as a haute hotel. The hotel has hosted various high-profile events, including fashion shows, watch parties, and exhibitions, which have attracted tens of thousands of visitors. By engaging in the cultural and fashion scene of Milan, Portrait Milano has established itself as a buzzworthy destination. Despite being owned by the Ferragamo family, the hotel has not relied on blatant brand extensions, opting instead to focus on creating unique experiences and events that appeal to a wider audience.
Looking ahead, the Lungarno Collection, which operates Portrait Hotels, is exploring opportunities to expand its brand in Italy. The company is considering opening hotels in Venice, Napoli, Palermo, as well as resorts on Lake Como and the Amalfi Coast. While certain challenges exist in each location, such as market difficulty or cultural factors, the company remains committed to establishing its urban, centrally located brand in key Italian cities. The success of Portrait Milano and the brand’s focus on community engagement, food and beverage offerings, talented staff, and cultural events provide a blueprint for future luxury hotel developments.
