• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

2

Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living

3

The stock market is about to suffer a 'snapback' and will lose much of this year's gains as 'speculation is hitting extreme levels,' BofA warns

1

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

2

Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living

3

The stock market is about to suffer a 'snapback' and will lose much of this year's gains as 'speculation is hitting extreme levels,' BofA warns
hotel industry

This 61-year-old hotel has never had a single guest

By
Laura J. Vogel
Laura J. Vogel
Down Arrow Button Icon
By
Laura J. Vogel
Laura J. Vogel
Down Arrow Button Icon
August 11, 2015, 11:14 AM ET
Courtesy of Agrigento
Add Fortune on Google for similar content.

Italy is well known for its delizioso pasta, bello countryside, many beaches and often dysfunctional politics. But it also boasts at least one “ghost” hotel. Most Americans have never heard of Grande Hotel de Calogero. But the hotel complex in Sicily has been under construction for decades and has never hosted a single guest. The story of this hotel offers a window into Italy’s real estate sector.

Italy has roughly 670 partially completed, never-opened buildings; all are just sitting in wait, according to a recent article in Linkiesta, a Milan-based news site. Together, the real estate properties are worth an estimated $2.8 billion, but they require a massive investment — roughly $1.5 billion — in order to complete construction, so the odds are decidedly not in their favor.

In the case of the Grande Hotel de Calogero in Sicily, it’s not for lack of trying. The ground was broken for the Grande Hotel Calogero 61 years ago, according to TheLocal.it, an English-language news site in Italy. Although it has twice been refurbished—and had four openings—the 300-room inn has never had a guest check in. Not surprisingly, the “grand” hotel has fallen into disrepair.

Success for this hotel had seemed a no-brainer: It was set atop Monte Kronio, a 1,300-foot peak that is home to an ancient basilica that holds the shrine of Saint Calogero, a 16th-century holy man. The mountain is part of a nature preserve that has views for miles, and a famous hot-spring spa is a quick walk away from the vacant hotel.

According to TheLocal.it, work first began on the five-story structure in 1954. After a staggering 30 years of work, it was finally completed in 1984—or so it was thought. The big problem? No provision for management responsibilities were in place, as it was a construction project funded by the region of Sicily, and after it was first deemed “done,” the hotel lay in wait for a staff to run it (and for guests to serve).

After a few years of stasis, Sicily’s regional authority again took over the beginning-to-decay property in the thermal-spa area of Sciacca. There were years of repairs. Then, once again the Grand Hotel San Calogero was deemed completed in 1993, and an opening ceremony was even held. However, it was soon discovered that the structure didn’t have an adequate drainage system. The hotel’s opening was postponed again.

The local business cooperative that had been formed to manage the hotel was eventually granted about $874,000 from the regional government, and the building of a proper drainage system commenced. Finally, in 1998, the luxury hotel was opened to much fanfare. And, just as quickly, it closed again, for reasons that are unclear, according to TheLocal.it.

There was one final attempt to bring it to life 15 years ago. A new cooperative of investors took over the management of the Grande Hotel San Calogero in 2000 and planned to connect the inn to the municipal drainage system. Unfortunately, the regional council had neglected to file the proper paperwork for the project, and the hotel was back-burnered once again.

So, despite the investment, despite the time, over the course of 61 years, the Grande Hotel San Calogero still sits empty, and it is far from certain that there will be another attempt to revive it.

Laura J. Vogel is a freelance writer and editor based in New York’s Hudson Valley. She has written for the New York Times, Travel + Leisure, and The New York Post.

Find out about the battle for Aman resorts:

About the Author
By Laura J. Vogel
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

t
CommentaryParenting
Babylist CEO: The Trump Accounts gold rush is overlooking moms
By Natalie GordonJuly 6, 2026
3 hours ago
SoFi vs. Sallie Mae student loans
Personal Financestudent loans and debt
SoFi vs. Sallie Mae student loans
By Joseph HostetlerJuly 6, 2026
4 hours ago
Trump rings opening bell for Trump Accounts as Treasury commits $1.4 billion in seed money
Personal FinanceDonald Trump
Trump rings opening bell for Trump Accounts as Treasury commits $1.4 billion in seed money
By Catherina GioinoJuly 6, 2026
4 hours ago
e
CommentaryCorporate Governance
SpaceX’s supervoting shares put a decades-old governance debate back in play
By Jeffrey Sonnenfeld and Steven TianJuly 6, 2026
5 hours ago
Exclusive: Xbox’s CEO on 3,200 layoffs, four studios cut, and her blunt warning that ‘we spread ourselves too thin’
Big TechMicrosoft
Exclusive: Xbox’s CEO on 3,200 layoffs, four studios cut, and her blunt warning that ‘we spread ourselves too thin’
By Sebastian HerreraJuly 6, 2026
5 hours ago
The yen is quietly crashing as Japan’s debt crisis bleeds into currency markets, and efforts to halt the slide are ‘doomed to fail,’ economist says
EconomyCurrency
The yen is quietly crashing as Japan’s debt crisis bleeds into currency markets, and efforts to halt the slide are ‘doomed to fail,’ economist says
By Jason MaJuly 6, 2026
5 hours ago

Most Popular

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI
AI
Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI
By Marco Quiroz-GutierrezJuly 5, 2026
1 day ago
Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living
Success
Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living
By Preston ForeJuly 4, 2026
3 days ago
The stock market is about to suffer a 'snapback' and will lose much of this year's gains as 'speculation is hitting extreme levels,' BofA warns
Investing
The stock market is about to suffer a 'snapback' and will lose much of this year's gains as 'speculation is hitting extreme levels,' BofA warns
By Jason MaJuly 5, 2026
1 day ago
Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
Law
Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs
By Wyatte Grantham-Philips and The Associated PressJuly 2, 2026
4 days ago
Gen Z was 'jaded about employment before we ever entered the workforce'—now psychologists say the stare has hardened into something worse
Economy
Gen Z was 'jaded about employment before we ever entered the workforce'—now psychologists say the stare has hardened into something worse
By Nick LichtenbergJuly 6, 2026
15 hours ago
Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
AI
Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
By Nick LichtenbergJuly 3, 2026
4 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.