Palazzo Ricci: An Italian home from home in Abruzzo
From next year, the once derelict 18th century Palazzo Ricci will enjoy a new lease of life as a private residence club for high net-worth individuals
For millennia, the Maiella has presided over the Aventino River valley in Abruzzo, a brooding Apennine that legend imbues with restorative powers and beloved, it’s said, of witches and wise women. Such benevolent forces make for a self-possessed, passionate region that doesn’t open its arms to outsiders readily. And it may be why this rustic Italian region, an hour from Pescara by plane, two from Rome by car, is still largely not on the tourist radar — despite the best efforts of travel supplements.
Wind between rolling agricultural fields and green spaces — over half of Abruzzo is national parks and reserves — and you’ll hear nothing but Italian voices, birdsong and church bells turning on their wheels every 15 minutes with pious reminder. You can literally see the medieval town of Casoli coming from a mile away, its houses perched like figurines on a wedding cake of a hill that slopes straight down on all sides. This 360-situation made it a strategic prize in WWII; today it’s an enclave of weathered wrought iron balconies, shutters and long shadows, a place of suspended animation bathed in soft, velvet light.
Things explode briefly at its Festa Patronale in October and every Friday at its life-affirming weekly market of fruit and veg, cookware and clothes. At all other times, the ability to linger over coffee and cannoli in the small café by the town square is its main draw. Only the crane, poking elegantly from the hilltop like a flagpole, belies the fact that this town is undergoing somewhat of a transformation.
Wind up through the streets of Casoli, voted one of the most beautiful towns in Italy’ by the I Borghi più belli d'Italia and you’ll reach Palazzo Ricci. Once home to the Ricci family, this derelict 18th century aristocrat is making a remarkable comeback as a private residence club for travellers who want an Italian home-from home. Inside, high-ceilinged rooms wait for inspiration; a glance reveals a flash of art nouveau glass here, a marble staircase waiting to be climbed there. By the time it opens in 2023, the palazzo will be unrecognisable; only its haughty countenance and incredible views hinting at its chequered past.
As a travel model, private residence clubs are fast-growing in popularity – offering ‘fractional ownership’ of beautiful properties in beautiful places as an alternative to luxury hotel stays. The trend has been accelerated by the pandemic, as well-heeled and HNW people move toward spending more time in one place or homeworking in myriad comfortable locations around the globe. Luxury, now, is less about the thread count and more about the depth of experience, something that Palazzo Ricci is hoping to deliver.
Prices for the 14 types of unit categories in the residence start at $89,000 and go up to $285,000. Just don’t mention the word ‘timeshare’, a comparison that looms like a creepy distant relative at a wedding buffet. Fractional ownership is a different prospect, with members deciding how the property progresses and the fraction itself a proper asset they can resell if they wish.
In return, the Palazzo’s eventual 126 owners get a hassle-free way to ‘have a second home’ effectively, with a minimum of six weeks to choose during the year to visit in, and even the ability to keep their stuff onsite when not there. Plus, as part of Elite Alliance, Palazzo members can exchange time there for time in the network’s 135 other properties in the year if they wish, including 15 other Italian stays.
It’s a win-win for members — and for the area; one of the benefits of such a consistent flow of visitors is the investment it will bring locally. Casoli itself has benefitted from the De Cecco pasta factory at its ankles, a vital source of jobs that has kept the town alive with multi-generations — unlike many of Italy’s hilltop villages, quietly suffocating under ageing populations while the youth exodus to find opportunities. But models like private residence clubs could increasingly prove a savvy way to breathe new life into ancient settlements — crucially while maintaining the cultural integrity of an area. Investor, Mike Brosnan thinks so. He fell in love with the area while visiting friends a few years ago and has been passionate about its preservation ever since.
‘People want to immerse themselves into their travel now in a different way — they’re looking for opportunities to experience authentic, culturally based experiences.’ He notes. ‘With this model, they have a sense of pride of ownership in not just the Palazzo but the community, because if they're buying into it, they'll want to come back over and over again.
‘High Net Worth people are also able to really impact a small local economy with their spending habits; they may eat in, but they're going to buy all the food locally. More likely though, they're going to be frequenting the local restaurants, cafes, bars and shops and expending funds for excursions. Long-term there is more of a stable economic impact here than just having people come to a hotel for two or three days.’
Certainly, the buzz seems to be beginning, with the upcoming opening of high-end Restaurant Fiore on the promise of the Palazzo’s clientele. It looks to be the first of many services that will spring up to service Casoli’s new ‘locals’ when they arrive; indeed, it’s estimated that the project will infuse the locality with $3-4m a year, in addition to the $6m invested in the Palazzo’s own renovation.
If the rest of the world has been slow to discover Abruzzo, then those quick enough to catch up (and put a deposit down) will find a year-round gateway to a more rugged, less florid Italy, with all the trimmings. From the Palazzo, skiing in the Apennines is 40 minutes away, the Adriatic Sea under an hour, where traditional fishing platforms stud the waters along the Trapani coastline. Lanciano and the gravity defying fortress of Rocascalena are within easy reach, as is Quadri, or ‘truffle town’ — its fragrant funghi gracing meat-heavy regional sauces served on hooped anellini, best washed down with Cera Suolo wine.
And whether you order a delicate tower of string-thin chitarra pasta at fine-dining La Grotta dei Raselli in Guardiagrele, or meatballs at rustic Osteria da Elisa, you’ll reliably receive a pepperoncino in a dish alongside, with nail scissors to chop as much of it as you dare into your food. Chilis are good for the circulation, so the wisdom goes, and the Abbruzzesi are not afraid to spice things up. Opening up the region to a new era of dedicated HNW visitors in this way could add new energy and zing to its future, and a type of sustainable development that may well be to their taste.
Palazzo Ricci membership starts from €78,500 (limited number of Founders Memberships currently available at special pricing). For sales contact
A night in a double room at Castello de Semivicoli starts from €90 EUR, B&B