Shaner has bought a majority stake in Il Ciocco Hotel & Resort, a 180-room luxury resort in Barga, Tuscany, Italy.
The company has formed a new division, Shaner Italia, to own and operate hotels in the country.
The Marcucci family, the hotel’s original owner, will retain its ownership interest in the property.
Shaner Italia will undertake a multi-million euro renovation and reopen the property under Marriott’s Renaissance brand later this year or in early 2012 under the name Renaissance Il Ciocco Tuscany Resort & Spa.
Shaner Ciocco, a subsidiary of Shaner Italia, will manage the five-star hotel following the renovation.
The property is situated within a 2,000ha private park and offers indoor and outdoor sports activities, swimming, a fitness centre, a spa, hiking trails, tennis and bocce courts, soccer fields, a motocross track and an SUV rally track.
The property features meeting facilities, including an 850-seat auditorium, two ballrooms, four food and beverage outlets, a bar and smaller meeting rooms.