The new property represents Rosewood brand’s fourth hotel in Italy, after the recent announcements of Rosewood Rome and Rosewood Hotel Bauer in Venice.
These three projects will join Rosewood Castiglion del Bosco in Tuscany, which is Rosewood’s Italian estate resort.
Rosewood Milan will be located on the edge of the Quadrilatero della Moda, the fashion district of the city, and just steps away from the famous shopping boulevard Via Montenapoleone.
The property will feature 70 rooms, including around 20 suites.
It will encompass the historic Palazzo Branca and Palazzo della Banca Commerciale constructed in the 19th century and was earlier home to the Italian Commercial Bank.
Parisian firm Studio K.O. will oversee the design of the hotel, creating a space that blends classical details with modern touches.
Rosewood Milan will be home to a bar and restaurant with a courtyard and garden.
The property will also feature the Asaya wellness facility with three treatment rooms, an indoor pool and fitness centre.
Rosewood Hotel Group CEO Sonia Cheng said: “This development comes with great excitement as we continue our growth in Europe and Italy specifically.
“Rosewood continues to expand to destinations where we know our ‘affluential explorer’ guests want to travel. With all its culture and vitality, Milan ticks all the boxes for a Rosewood urban location and it will round out our portfolio of global fashion capitals where Rosewood has a presence, including our iconic properties in New York, Paris and London.”
Gruppo Statuto chairman Giuseppe Statuto said: “We are thrilled to partner with a brand such as Rosewood to bring these historic buildings back to life.
“By merging our shared experiences and philosophies, we know this hotel will become an immediate icon of high hospitality in Milan — a trend-setting city that increasingly stands out in the world as an unmissable destination for international travellers and locals alike.”