Thursday October 31st, 2013 - 10:03AM
ST. MORITZ, SWITZERLAND—Grace Hotels acquired the historic La Margna hotel, located here, for an undisclosed amount.
The hotel group plans to renovate and transform the property into Grace St. Moritz, a luxury hotel, and Grace St. Moritz Residences in 2014.
The Schweizer-Pitsch family has privately owned La Margna Hotel, built in 1906, for the past 50 years. The hotel will remain open until the end of the 2013/14 skiing season.
St. Moritz has been well known as a winter-sports destination. The resort town twice hosted the Winter Olympics in 1928 and 1948.
On completion of renovations, the Grace St. Moritz hotel will comprise 36 guestrooms and suites, plus several serviced apartments with views of the lake. The property will have three restaurants, including a classic Swiss restaurant specializing in local cuisine, and a new martini and cigar bar.
The Grace St. Moritz Spa will be completely redesigned. Plans include a new gym and swimming pool, and the skiing facilities will be upgraded with a fully equipped ski room.
“This is an iconic hotel in one of the world's most iconic resorts and a worthy addition to the Grace family,” stated Philippe Requin, CEO of Grace Hotels. “The Engadine Valley is an area of outstanding natural beauty while St. Moritz itself remains one of Europe's most exclusive destinations. Following its illustrious history, we are proud to be taking La Margna into the next chapter of its evolution."