When the ultra-luxe German hotel group the Oetker Collection – of the Hotel du Cap, Lanesborough and Le Bristol fame – announced it was opening its first ever Italian outpost, we immediately sat up and took notice. But when we then realised that this new hotel was going to be in the glamorous destination of Capri, a place that hasn't seen a new hotel opening since way back in 2008, we whipped out our diaries and penned in the opening date.
The good news is there's still plenty of time to get organised, as the unveiling won't be until April 2022. But it's remarkable that this is only the twelfth hotel (following the recently announced Woodward in Geneva) for the 13-year-old hotel group. (Yes, the company traces its roots back to 1872 but they were only officially established as Oetker Collection in 2008.)
“This industry has been a bit on steroids over the past decade – everybody was only talking about growing their portfolio. I don't think that was sustainable, or very healthy,” says Oetker's new CEO (and former CFO), Dr Timo Gruenert. “If you open five hotels every month, it just doesn't work.”
Of course, he was right, both from a brand perspective as well as a commercial one. And Covid-19, having shaken the hotel industry to its very core, has illustrated the perils of loading your balance sheet with too much debt. Yet Oetker's long-standing belief in sustainable growth has kept it in rude health. “We made a conscious decision not to play that game – we're assessing every hotel to see whether it really is a masterpiece in a given destination.”
Of course, you'd have to assume that their assessment wouldn't have taken too long in the case of La Palma, for this is the island's single oldest property, and it's also only a minute's walk from the Piazza Umberto, or as the locals like to call it, La Piazzetta.
Still, the property requires a massive overhaul, and after having decided to reduce its keys from 80 to 50, Oetker is well on its way, having secured the services of two lead architects: New York-based Adam Tihany – who's revamping the common areas, rooftop restaurant, pool, spa and beach club that's a short drive away, in Piccola Marina – and Rome-based Francesco Delogu – who's in charge of the rooms and lobby.
As we said, we can't wait to visit.
