AUGUST 22, 2024
the umbrian gem of CASTELLO DI RESCHIO
The 1,500 hectare estate, lovingly restored by the skillful eye of Count Benedikt Bolza and his family, has become a definition of refined luxury and thoughtful development in the region. For real estate developers, Reschio offers a one of a kind case study in balancing heritage conservation with contemporary design, setting a benchmark for luxury living amid historical grandeur. Just to set your expectations for this post - Reschio is my favorite hotel development in the World.
Since my first visit during its opening week in 2021, I have been in admiration of the family and how they have built an outstanding real estate portfolio. I will try to reflect on my time here from the development point of view and describe the amenities that make the property worth the hefty price tag.
THE BEGINNINGJust like everything it starts with an idea…In this case, an ancient estate, a millennium-old castle and a forward thinking family – with the singular aim of bringing an extraordinary corner of unspoiled Umbria back to life.
REDISCOVERING THE ICONI was fascinated by the history of Reschio and how its potential seemingly flew under the international investment radar for so long. It was just waiting for the right visionary to come along and bring the property to its glory I guess.
The construction of the Reschio castle began in 900 AD and the first deeds were granted under the Roman Empire. Throughout time the estate was handed over from one family to the next. Fast forward almost one thousand years and in the 1990s, the Count and Countess Boza purchased the ramshackled lands.
The challenge was not to merely redevelop the estate buildings, but to reimagine Reschio as a living, breathing place that pays homage to its past while embracing the expectations of modern hospitality and property development.
Count Benedikt, an architect himself, spearheaded the project. He started with the restoration of the private villas, before turning his attention to the castle, which ties the whole development together. The family's vision was clear: to create a serene retreat that offers the unparalleled experience of Umbria’s tapestry.
INTERIOR DESIGN TELLS A STORY
Reschio’s transformation feels like a dance between its medieval beginnings and a glamorous farmhouse. The castle, with its robust stone walls (forget about your 5G network) and a glimpse of a former turret, retains its powerful spirit. Inside those cold walls, however, the interiors tell a different story—one of Italian elegance and comfort. The Count and Countess made sure that each space exudes a sense of warmth and individuality. That warmth is particularly reflected in the newest addition of the estate - The Palm Court. Modeled after a victorian conservatory, the space feels like a movie set from the 1920s. Filled with Umbrian golden light, lush palm trees and rattan furniture, it makes for a perfect place for an afternoon Negroni.
The property has 36 rooms in total, all individually curated by the interiors team right on Reschio’s grounds. Artisanal craftsmanship and placemaking is abundant in every guest touchpoint. For example, the artwork was hand selected by the Count in various markets and auctions, reflecting both the local heritage and more cosmopolitan influences.
Renewable energy sources, organic farming practices, and conscious construction methods have been the cornerstone of the whole development. This commitment to sustainability not only enhances the estate’s appeal to discerning clientele, but also serves as a model for other developers in the region.
LOCATION AND THE LOCAL MARKET
Reschio is not really a weekend destination in my view. It takes around 3 hours by car to reach the property from Rome and around 2 hours from Florence; however that has not stopped it from gathering a cult following. It is a niche offering, primarily competing with large borgos and heritage properties, such a Castiglion del Bosco (which has been restored by the Ferragamo family and currently run by Rosewood) or Borgo Santo Pietro in Tuscany, which presents a more intimate travel experience. Reschio, in similar fashion, operates not merely as a hotel but as a self-sustaining village, offering range of rooms, from castle suites to private villas available in the rental pool. Each villa, designed with the same meticulous attention to detail as the castle itself, provides a unique blend of privacy and luxury. These restored villas, scattered across the estate (car necessary), are equipped with private pools, and manicured landscaping, offering guests a tranquil hideaway.
The operational model is designed to deliver personalized service while maintaining the estate’s grandeur. The dedicated team, many of whom are locals, ensures that every aspect of the guest experience is exceedingly met, from farm-to-table dining to bespoke wellness treatments, such as wine infused body scrubs.
Tuscany and Umbria in particular, have exploded in popularity in recent years. A strong dollar and post-Covid revenge travel contributed significantly to increasing hotel rates and new development interest near larger demand drivers. In the increasingly competitive market of luxury hospitality, Castello di Reschio distinguishes itself through its commitment to authenticity and diverse guest programming of theater, musical performances, trying to create a sense of place that attracts travelers not only by its amenities, but also a sense of community. While other properties may offer opulent accommodations, Reschio's unique selling point lies in more of a holistic approach.
Entrance to the Spa
Artwork in the hills of the estate by Nic Fiddian-Green
One of the best equestrian centers I have visited
LONG TERM SUCCESS
The initial construction costs of the Castello were significant and required raising outside capital, however Count Benedikt saw the long term potential of the region. Umbria which was often overshadowed by its more famous neighbor Tuscany in the past, is rapidly gaining international recognition for its unspoiled landscapes and less crowded experiences, which gives Castello opportunity to capitalize on the current high demand for historic luxury accommodations. However, while the property won numerous awards and has been recognized as one of the top hotels in the world, operational costs for such a large property warrant consideration too.
The room rates at Castello Di Reschio are substantially higher than those of other comparable properties in the area, reflecting its super-premium positioning. The average rate during summer months is around EUR 2,500 excluding any on-site activities, such as horseback riding or spa treatments. It comes as no surprise, that luxury hospitality is vulnerable to economic downturns, which impacts occupancy and revenues. While the family has done a fantastic job at diversifying income outside of the rooms alone to mitigate some risks, maintaining high standards of service and the upkeep of the property itself requires significant continuous investment. Naturally, while there are inherent risks with properties like Reschio, I believe the uniqueness of the development and the distinct offering can ensure sustained market appeal.
ON SITE AMENITIES
Reschio offers a plethora of on-site amenities catering to diverse range of travelers. The Castello has an equestrian center, providing guests with the opportunity to roam the 3,500 acre estate horseback riding or to have a proper training session with incredible dressage horses. Additionally, the F&B offering features farm-to-table dishes prepared with either locally sourced or on-site ingredients.
The wellness center, housed in the former wine cellars, offers a range of treatments and therapies designed to rejuvenate the body. I will be honest, I haven’t even thought of going to the gym while visiting, so I have no comments about that. For the more active guests than I was, the estate has a tennis court and extensive hiking and biking trails that wind through the hills.
The Palm Court is simply spectacular, a nod to Victorian architecture and the characters that called this property a home throughout the 1900s. It functions as a connector of all the spaces within.
The Bathhouse is one of the places I enjoyed discovering the most, as a wellness enthusiast. The space retained it medieval feel, as most of the light is allowed into the space through narrow shafts and the pool is lit by candles.
Fully equipped stables with high end equipment.
CULTIVATING COMMUNITY : THE KEY TO ENHANCING HOTEL PERFORMANCE
Despite the architectural allure, operating such a property doesn’t come without significant challenges. The capital intense restoration and ongoing maintenance costs are formidable as the development team didn’t cut corners on interior design or providing guests with sophisticated luxury—from Ortigia soap in the bathrooms to monogrammed towels. However, in the modern hospitality landscape, particularly in the Tuscan/Umbrian market, what is going to set your property apart is not amenities or architecture alone. Those USPs are easy to outcompete, and with shifting consumer spending habits, it really is the programming that will make you stand out from the crowd—a sense of belonging.
This shift is driven by several factors, including a growing emphasis on emotional well-being and social media-driven decision-making, which encourages sharing unique experiences.
Modern travelers, particularly millennials (the largest consumer group in ultra-luxury hospitality), prioritize experiences that offer cultural immersion and opportunities for social interactions. They seek hotels that not only provide unique F&B concepts and expected comforts but also serve as hubs for creativity and learning. This differentiation can justify higher room rates and attract a niche consumer willing to pay a premium for meaningful travel experiences.
Count Benedikt saw the potential of cultivating such an engaged community and harnessed an incredible social media following (nearing 750k followers on Instagram alone). The property keeps a busy calendar of events that fit the unique hotel concept—such as theater and musical performances, a three-day jazz festival around New Year's, and fun tennis tournaments. Guests (both hotel and outside) engaged in on-site activities and social events are much more likely to dine at the hotel’s restaurants, visit the spa, and use other paid experiences, driving ancillary revenue streams that are vital to sustaining the commercial success of such a property.
Castello di Reschio is not just a hotel, it is an experience that redefines the standards of ultra-luxury hospitality. I look forward to being back to the property.
