Publications
Publications
- June 2016
- HBS Case Collection
The Redevelopment of Palazzo Tornabuoni (A)
By: Sid Yog, Arthur I Segel and Ricardo Andrade
Abstract
In the spring of 2004, Byrne Murphy and his partners at Fingen Group discussed options to redevelop Palazzo Tornabuoni, an iconic 15th century palace in the heart of Florence, Italy. The possibilities included turning the upper floors into office space, hotel rooms, condominiums, or a private residence club, a new concept that was quickly gaining popularity in the U.S. but still largely untested in Europe. While they factored the economics and the risks involved in each of the options, they wondered which would preserve the property's historical heritage and still deliver attractive returns.
Keywords
Palazzo Tornabuoni; Private Residence Club; Florence; Italy; Timeshare; Fractional Ownership; Property; Real Estate Industry; Italy; Europe
Citation
Yog, Sid, Arthur I Segel, and Ricardo Andrade. "The Redevelopment of Palazzo Tornabuoni (A)." Harvard Business School Case 216-069, June 2016.