Luxury Figures

Villa d’Este Expands Its Empire on Lake Como

By Eva Morletto21 mai 2026

On the shores of Lake Como, the Villa d’Este hotel has epitomized the excellence of Italian luxury hotels since 1873. The eponymous company has just reported strong financial results, with revenue up 14% in 2025 to €115.3 million, while EBITDA jumped 19% to €47.5 million.

On the shores of Lake Como, the Villa d’Este hotel has epitomized the excellence of Italian luxury hotels since 1873 (Villa d'Este)

The Italian group’s performance is remarkable in a sector where profitability remains under pressure, even for luxury players. Behind these results lies a particularly coherent strategy, led by CEO Davide Bertilaccio: capitalizing on the iconic strength of Villa d’Este, while evolving the traditional luxury hotel model toward more residential and experiential formats.

Investments in Luxury Real Estate

The opening of Miralago Luxury Apartments, scheduled for late June 2026, perfectly illustrates this evolution. Located in Cernobbio, this project marks the group’s entry into high-end branded living on Lake Como. The former Hotel Miralago, acquired in 2024, has been completely transformed into a luxury serviced residence. Eight modular apartments featuring one or two bedrooms, a kitchen, and private living spaces will benefit from the Villa d’Este’s signature services: concierge, room service, housekeeping, dining, and even private chefs.

Miralago Luxury Apartments, located in Cernobbio, mark the group’s entry into high-end *branded living* on Lake Como (Villa d'Este)

This hybrid positioning responds to a profound shift in post-pandemic international demand. Indeed, a significant portion of the affluent clientele now seeks greater privacy, space, and flexibility, without sacrificing the standards of a grand hotel.

On the ground floor, the future Caffé Miralago will also be open to local customers, a sign of a commitment to community integration that is becoming another key hallmark of high-end hotel groups, as they increasingly seek to engage with their cultural and social surroundings.

Miralago thus joins the new “Villa d’Este La Collezione” banner, which unites the group’s five-star properties under a single identity. Alongside the iconic Villa d’Este in Cernobbio are Villa La Massa in Florence, Palazzo Venezia in Como, and the new Miralago Luxury Apartments.

This collection strategy aligns with a growing trend in the luxury hospitality sector: transforming a historic property into a true global brand capable of extending its influence far beyond its original location. For Villa d’Este, the challenge now lies in preserving the heritage DNA that defines its reputation, while meeting the evolving expectations of an increasingly discerning international clientele.

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