Italian financial police have sealed the Grand Hotel in Riccione following a criminal seizure order from the Rimini prosecutor's office, evacuating guests staying at the historic property on Tuesday.
Six suspects face charges of fraudulent bankruptcy, including the hotel's former administrator Gianni Andreatta, who authorities allege led the group. Investigators accuse the suspects of shielding the property from insolvency proceedings through fictitious rental contracts. The prosecutor's office has seized real estate and financial assets totalling 29 million euros linked to the case. The seizure was ordered over illegal management and rental operations that continued despite the bankruptcy of operator Marebello in 2023.
The Grand Hotel, which opened in August 1929, is scheduled to go to auction on 23 September with a starting price of 24 million euros.