Artificial Intelligence
Builders Company
Developers/Smeralda Holding
SH
Smeralda HoldingPorto Cervo, Italy · 1 active markets
SUBSIDIARY

Smeralda Holding owns and operates luxury hotels, marinas, a shipyard, golf, restaurants, retail, and land in Costa Smeralda, Sardinia, serving high-end leisure travelers and yacht users. Its integrated model combines hospitality, real estate assets, destination services, redevelopment, and branded partnerships.

LinkedIn headcount
28 employees; company size 11–50
employees, as shown on LinkedIn · retrieved 2026-10-11 · size band 11–50
Projects last researched October 11, 2026
Every figure on this card was read out of a document.

Overview

Investor tear sheet

a summary of the tabs that follow · no rating of our own

Company dossier

Legal name
Smeralda Holding S.r.l.1
Headquarters
Località Porto Cervo, Casa il Ginepro 1/A1, Porto Cervo1, Italy
Founded
not published
Entity type
SUBSIDIARY1
Business model
commercial1, mixed use1, masterplan1, other1
Markets
1 market listed
What they build
Hotel (2 of 5) · Retail (2 of 5) · Other (1 of 5)
Full dossier in About →

Delivery record

2 date-assessed of 5 projects
Unverified by developer

AI-researched delivery record, not yet confirmed by the developer. Dates may be approximate; original sources are linked.

Completed projects from 2016-10-15 through 2026-10-15, with sufficient delivery-date evidence. Date assessment and developer profile verification do not mean an independent audit of every source. Original source links and available snippets are provided. May not represent the developer’s full portfolio. 0 undated and 1 boundary-uncertain completions are excluded. Delivery exceptions are listed separately under Projects.
Completed projects assessed
5
within the rolling ten-year window
Median delay
+28.8 mo
the middle of 2 scored projects
Average delay
+28.8 mo
the same projects, pulled by the worst
Average time to deliver
—
2 delivered projects with a dated start — needs 3
Worst slip
+48.0 mo
Hotel Cala di Volpe — full refurbishment · +37.0 to +59.0
0
early or less than 6 months late
6 to 12 months late
1
yellow rows below
Over 12 months late
1
red rows below

Against other developers

2 date-assessed projects here
Not enough info yet.
Projects and timelines in Track Record →

Resident experience

3 of 5 buildings rated · scale 1–10

AI research over published reviews and resident comments. Scores are a model’s reading of opinion, not figures stated on a page, and nothing here feeds any number above it. The links under each block are the pages that research says it used. Based on available resident reviews of covered buildings. These are reported experiences, not independent building inspections, and may not represent all residents or properties.

Overall verdict
6.9/ 10
Weighted judgment across build and operations · from 3 of 3 rated buildings
Little structure evidence (2 of 3 buildings) — this rests mainly on whole-building and living reviews.
Structure & systems
7.7/ 10
Fabric, services, waterproofing, envelope · from 2 of 3 rated buildings
Management & living
6.8/ 10
Upkeep, response times, amenities, community · from 3 of 3 rated buildings

Against other developers

3 rated here · 8 developers, 33 rated buildings in Italy
Overall rating
Smeralda Holding · 8 other developers in Italy
6.9 vs 6.1
this developer 0.8 better
The weighted verdict on each side. From 3 of 3 rated buildings here and 33 in the market.
Structure & systems
Smeralda Holding · 8 other developers in Italy
— vs —
Too few buildings with this score here to compare (2 of 3)
Fabric and engineering only — fixed at handover. From 2 of 3 rated buildings here and 11 in the market.
Management & living
Smeralda Holding · 8 other developers in Italy
6.8 vs 6.3
this developer 0.5 better
Upkeep and response — belongs to whoever runs the building now. From 3 of 3 rated buildings here and 27 in the market.
The market here is Italy: every other developer whose head office is in the same country, because the review platforms residents use, and the service norms they judge against, move together within one. It is not a city, a sector or a price band. Read structure and living together. A developer above the market on structure and below it on living builds well and runs buildings badly, which is a fixable problem and a different one from building badly. Higher ratings are better; differences use the displayed scores rounded to one decimal. Rated buildings only, on both sides, and a structure or living score with no stated basis — no review count and no notes or links — is left out of both.
Ratings by building →

Awards & recognition

  • SUSTAINABILITY Certified 22 December 2025 (reported); certification registered 1 December 2025
    Porto Sostenibile® (Sustainable Marina) Certification · Porto Cervo Marina
    Porto Cervo Marina, an asset of Smeralda Holding, obtained the Porto Sostenibile® certification and ethical sustainability labels covering ESG rating and reporting.
    FIDESG Sustainable Marina; verified by DNV and recognized under an ACCREDIA-approved scheme · https://www.portocervofficial.it/la-marina-premiata-con-la-certificazione-di-porto-sostenibile/
  • RANKING Ranked 2025
    Blue Marina Awards 2025 · Porto Cervo Marina
    Porto Cervo Marina was listed among the 2025 Blue Marina Awards winners in the category of tourist ports with a superyacht focus and more than 500 berths; the marina is identified in independent reporting as belonging to Smeralda Holding.
    Blue Marina Awards, promoted by Assonautica Italiana and ASSONAT, with RINA technical verification · https://www.bluemarinaawards.com/vincitori-blue-marina-awards-2025/
  • RANKING Ranked 15 November 2024
    Blue Marina Awards 2024 · Porto Cervo Marina
    Porto Cervo Marina Srl was one of the 18 structures receiving the Blue Marina Awards 2024 mark of recognition and certification for performance relating to sustainability, safety, inclusion and tourist hospitality.
    Blue Marina Awards, promoted by Assonautica Italiana and ASSONAT, with RINA technical verification · https://www.bluemarinaawards.com/premiati-blue-marina-awards-2024/
  • 2 more in Awards
All awards →

Risks & source coverage

  • LEGAL 2025-11-26 A corruption case concerning alleged payments and alleged interference with municipal building inspections at Smeralda-linked hotels ended in November 2025 with the Sassari Court of Appeal acquitting former Sardegna Resorts CEO Mariano Pasqualone and the Sardegna Resorts and Land Holding companies; the earlier first-instance outcome had been prescription, and the allegations were not established against those defendants.
  • ALLEGATION 2022-02-23 In February 2022, the Tempio Pausania court declared no grounds to proceed because of limitation for alleged corruption linked to Costa Smeralda hotel-expansion permits, including allegations involving Smeralda Holding president Franco Carraro and former Sardegna Resorts managers; the report states that part of the allegations against four other defendants continued, so this was not a finding that corruption by Smeralda Holding was proven.
  • FINANCIAL DISTRESS 2016-12-24 In December 2016, prosecutors’ bankruptcy petition against Colony Sardegna Sarl, the former owner associated with the Costa Smeralda sale before the Qatar acquisition, was extinguished through a €22.7 million tax settlement after authorities had alleged €170 million of tax exposure; the matter was against Colony Sardegna rather than a finding that Smeralda Holding itself became insolvent, and the parties disputed the tax allegations.
  • 1 more in Risk & Sources
Record status
active
Company sources
56 source entries across 56 fields
Projects tracked
6 · 5 completed in assessment
All flags and sources →

Track Record

Delivery record

2 date-assessed of 5 projects
Unverified by developer

AI-researched delivery record, not yet confirmed by the developer. Dates may be approximate; original sources are linked.

Completed projects from 2016-10-15 through 2026-10-15, with sufficient delivery-date evidence. Date assessment and developer profile verification do not mean an independent audit of every source. Original source links and available snippets are provided. May not represent the developer’s full portfolio. 0 undated and 1 boundary-uncertain completions are excluded. Delivery exceptions are listed separately under Projects.
Completed projects assessed
5
within the rolling ten-year window
Median delay
+28.8 mo
the middle of 2 scored projects
Average delay
+28.8 mo
the same projects, pulled by the worst
Average time to deliver
—
2 delivered projects with a dated start — needs 3
Worst slip
+48.0 mo
Hotel Cala di Volpe — full refurbishment · +37.0 to +59.0
0
early or less than 6 months late
6 to 12 months late
1
yellow rows below
Over 12 months late
1
red rows below

Against other developers

2 date-assessed projects here
Not enough info yet.

Construction start to handover

5 of 5 projects dated · 2 places
Based on covered projects with documented construction or launch dates and available handover dates. Timelines vary by project and may not represent the developer’s full portfolio.
Construction start, or the launchTarget completion (window)Completion or handover, as reportedCurrently statedLaunch year only, no date publishedEarly or ≤6 mo lateOver 6–12 mo lateOver 12 mo lateStalled
Porto Cervo, Italy
Place not published
2018201920202021202220232024202520262027todayPORTO CERVO, ITALYcompleted, no target publishedcompleted, no target published+48 moverifiedcompleted, no target publishedPLACE NOT PUBLISHED+9.5 moverified
Click a row in the chart to open a project, or a table row below to see its sources. The chart runs wider than the page where the record spans many years — scroll it sideways to follow a project to its handover. Every date we have is drawn. A hollow marker is only a launch year, not a date anyone published. No dates published means we looked and found none; dates not yet checked means we have not looked yet. Handing over is not finished — rows say which. A delay is shown when one source gives the promised date and another gives the real one, however rough: "2019" still counts, and the row shows how wide that is. Projects missing one of the two dates, or with sources that disagree, are left out of the figures. 1 turned out to be about something else — a phase, a neighbour, the wider masterplan — and is marked off-subject.

Building & Livability Ratings

Resident experience

3 of 5 buildings rated · scale 1–10

AI research over published reviews and resident comments. Scores are a model’s reading of opinion, not figures stated on a page, and nothing here feeds any number above it. The links under each block are the pages that research says it used. Based on available resident reviews of covered buildings. These are reported experiences, not independent building inspections, and may not represent all residents or properties.

Overall verdict
6.9/ 10
Weighted judgment across build and operations · from 3 of 3 rated buildings
Little structure evidence (2 of 3 buildings) — this rests mainly on whole-building and living reviews.
Structure & systems
7.7/ 10
Fabric, services, waterproofing, envelope · from 2 of 3 rated buildings
Management & living
6.8/ 10
Upkeep, response times, amenities, community · from 3 of 3 rated buildings

Against other developers

3 rated here · 8 developers, 33 rated buildings in Italy
Overall rating
Smeralda Holding · 8 other developers in Italy
6.9 vs 6.1
this developer 0.8 better
The weighted verdict on each side. From 3 of 3 rated buildings here and 33 in the market.
Structure & systems
Smeralda Holding · 8 other developers in Italy
— vs —
Too few buildings with this score here to compare (2 of 3)
Fabric and engineering only — fixed at handover. From 2 of 3 rated buildings here and 11 in the market.
Management & living
Smeralda Holding · 8 other developers in Italy
6.8 vs 6.3
this developer 0.5 better
Upkeep and response — belongs to whoever runs the building now. From 3 of 3 rated buildings here and 27 in the market.
The market here is Italy: every other developer whose head office is in the same country, because the review platforms residents use, and the service norms they judge against, move together within one. It is not a city, a sector or a price band. Read structure and living together. A developer above the market on structure and below it on living builds well and runs buildings badly, which is a fixable problem and a different one from building badly. Higher ratings are better; differences use the displayed scores rounded to one decimal. Rated buildings only, on both sides, and a structure or living score with no stated basis — no review count and no notes or links — is left out of both.

By building

3 rated · 2 not rated · scale 1–10
ProjectOverallStructure & systemsManagement & living
Romazzino — first-phase outdoor and Beach Club renovationPorto Cervo
8.2/ 10
7.9/ 10
7.8/ 10
Google Reviews/Maps 5/5 · 3 reviews · google.it
Booking.com 9.6/10, 8.6/10, 9.5/10, 9.6/10, 6.8/10, 8.9/10, 10/10 · 51 reviews · booking.com
Telegraph Travel 8/10 · no review count · telegraph.co.uk
Combined from 9 published figures on 3 platforms, weighted by review count, adjusted for where resident ratings usually fall and weighted toward the 6.5 midpoint where reviews are few: 7.8.

Google's 4.5/5 from 438 reviews is the largest review base and converts to an 8.5/10 anchor. Tripadvisor's 4.1/5 from 296 reviews is a material lower signal, while Booking's 8.5/10 from 51 reviews is below the stated ten-review anchor threshold but supports strong staff, cleanliness and comfort with weaker value. Recurring praise and complaints produce a modest net downward adjustment, with the physical score held below living because dated rooms and reported room-system faults remain recurring themes.

+ Immaculate grounds+ Renovated outdoor areas+ Upgraded gym+ Comfortable beds and linens+ Well-maintained beach facilities
− Dated or tired rooms− Bathroom defects− Variable shower temperature− Old or noisy air-conditioning− Poor soundproofing
+ Attentive staff+ Helpful concierge+ Beautiful private beach+ Two pools and strong outdoor amenities+ Relaxing setting
− High food and drink prices− Slow or inconsistent breakfast service− Concierge/transport coordination issues− Some rude or unprofessional interactions− Limited dinner choice reported

Reviews describe the first-phase outdoor work positively: the beach club, pools and beach restaurant were renovated, and one guest said the grounds were “immaculate”; another called the gym “brand new.” The physical criticism is concentrated in areas not yet fully renewed as of the reviews: “rooms are incredibly small, dated,” with reports of fluctuating shower temperature, defective doors, old air-conditioning and poor soundproofing. The 2025 Telegraph review says restoration was continuing through 2026, so the condition at October 11, 2026 remains partly uncertain.

Daily-life reviews are strongest on staff and setting: guests describe staff as “friendly, charming and professional,” and praise the private beach, pools and outdoor gym. The recurring counterpoints are expensive food and drink, occasional slow or poorly coordinated service, and some disappointing front-of-house interactions; one reviewer said the concierge was not dependable and housekeeping missed turndown twice.

Hotel Cala di Volpe — full refurbishmentCala di Volpe, Porto Cervo
7.3/ 10
7.4/ 10
Tripadvisor 4.2/5, 4.6/5, 4.5/5 · 406 reviews · tripadvisor.com
Combined from 3 published figures on 1 platform, weighted by review count, adjusted for where resident ratings usually fall and weighted toward the 6.5 midpoint where reviews are few: 7.4.
7.4/ 10
Tripadvisor 4.4/5, 3.6/5, 4.8/5 · 406 reviews · tripadvisor.com
KAYAK 10/10, 9.5/10, 9/10, 8.5/10 · 262 reviews · kayak.com
KAYAK 8/10 · 262 reviews · kayak.com
Combined from 8 published figures on 2 platforms, weighted by review count, adjusted for where resident ratings usually fall and weighted toward the 6.5 midpoint where reviews are few: 7.4.

Tripadvisor has the largest reported review base and its 4.2/5 overall rating converts to 7/10 under the specified curve. KAYAK is materially more positive, while the written evidence is mixed: repeated praise is balanced by recurring service and upkeep criticisms, so the anchor remains at 7.0; no separate structure score is assigned because no structure-specific aggregate is sufficiently distinct for a resident-building score.

+ Jacques Couëlle architecture+ Spacious comfortable rooms+ Renovated bathrooms and changing rooms+ Very clean rooms/property+ Large saltwater pool
− Entrance reportedly needs paint− Hotel described as needing a makeover− Pool not renovated− Housekeeping trolleys left in corridors− Some toiletries not replaced at turndown
+ Attentive staff reported+ Exceptional location and views+ Private beach and boat service+ Saltwater pool+ Strong breakfast and dining praise
− Inconsistent concierge/front-desk service− Unwelcoming or arrogant staff reported− High food and drink prices− Crowded pool/beach access− Breakfast service and selection criticized

Reviews describe a distinctive, well-maintained historic building and generally clean, comfortable rooms; Tripadvisor lists Rooms 4.2/5 and Cleanliness 4.6/5. However, one 2025 review said “the entrance needs a paint” and that the hotel “needs a make over,” while a later firsthand review said the pool itself “was not renovated” and reported corridors with housekeeping trolleys and toiletries not replaced at turndown.

The strongest day-to-day positives are the setting, pool, beach launch, breakfast and staff warmth: one reviewer wrote that staff “go beyond any other hotel,” while another praised “wait and discreet service.” The experience is not consistent: reviews also say “the staff need retraining,” describe concierge staff as dismissive, criticize cramped or rushed breakfast, and say prices left “a bad taste.”

Quattropassi al Pescatore — restaurant refurbishmentPorto Cervo
5.3/ 10
—/ 10
5.2/ 10
Tripadvisor 3.6/5, 3.5/5, 2.5/5, 4.2/5 · 351 reviews · tripadvisor.com
OpenTable 4/5, 3.8/5, 4.7/5, 3.2/5 · 3 reviews · opentable.com
Combined from 8 published figures on 2 platforms, weighted by review count, adjusted for where resident ratings usually fall and weighted toward the 6.5 midpoint where reviews are few: 5.2.

Tripadvisor supplies the anchor with 351 guest reviews and a published overall rating of 3.4/5, converted here to 5.2 on the stated curve. The score is adjusted modestly for repeated praise of the setting and food but also repeated complaints about service, value and inconsistent cooking; OpenTable has only three reviews and cannot anchor or materially dissent.

+ Waterfront setting and views+ Fresh seafood praised+ Attentive service reported+ Elegant atmosphere+ Good food on some visits
− High prices and poor value− Rushed service reported− Discourteous staff reported− Inconsistent cooking− Difficult or disputed entry/booking experiences

no notes returned

no links returned

Daily experience is strongly mixed. Positive reviews describe an “amazing view,” “attentive and friendly staff” and “Excellent food and Service,” while negative reviews report “service ... nonexistent,” staff who were “uncourteous” and “hasty,” and fish that was “overcooked and bland.”

Only buildings that have reached handover are rated. 2 of 5 projects carry no rating: a building still under construction is never asked about, one that has just been handed over may not have been reached yet, and the rest were asked about and no published resident commentary was found. Structure is fixed at handover and stays the developer's; management and living belongs to whoever runs the building now. The overall verdict weights both rather than averaging them. None of this is checked: a rating is what people published about a building, aggregated — it is not evidence, it cannot move a delay figure, and it is not part of the delivery record above.

About

Company dossier

Legal name
Smeralda Holding S.r.l.
Headquarters
Località Porto Cervo, Casa il Ginepro 1/A, Porto Cervo, Italy
07021
Founded
not published
Entity type
SUBSIDIARY
Revenue
EUR 168.1 million
2024
Business model
commercial, mixed use, masterplan, other

Offices

head office and 2 others
MilanArzachena

Sources: office cities

SOCIALdate not shown in source

smeralda holding

smeralda holding · carried by linkedin.com
Headquartered in Italy, with offices in Arzachena and Milano.
value seen: Milano and Arzachena
held out of the figures · the quote does not carry this value
https://www.linkedin.com/company/smeraldaholding

Partners

5 partners
LVMH Hospitality Excellence / Belmond / Cheval Blanc
operator

LVMH Hospitality Excellence signed agreements to manage Hotel Romazzino through Belmond and Hotel Pitrizza through Cheval Blanc, including renovations and later rebranding.

IGY Marinas
operator

IGY renewed its management agreement for Porto Cervo Marina and shipyard, covering operations, marketing, branding and customer service.

Nikki Beach
operator

Nikki Beach operates a luxury beach-club concept at Petra Ruja, combining food, entertainment, fashion, art and events.

Novikov
operator

Novikov operates a Porto Cervo restaurant concept with Asian and Italian restaurants, lounge-bar service and live entertainment.

One Ocean Foundation
partner

The parties work together on Posidonia reforestation at the Cala di Volpe mooring field and dune protection at Grande Pevero.

Sources: partners

PRESS2023-02-14

Smeralda Holding Partners With LVMH Hospitality for Romazzino & Pitrizza Hotels

Business Wire
Sardegna Resorts S.r.l., a Smeralda Holding Company wholly-owned by Qatar Investment Authority (“QIA”), has signed agreements with LVMH Hospitality Excellence, to manage two of the most renowned and exclusive hotels in Costa Smeralda.
value seen: Sardegna Resorts S.r.l., a Smeralda Holding Company ... agreements with LVMH Hospitality Excellence
held out of the figures · the quote does not carry this value
https://www.businesswire.com/news/home/20230214005564/en/Smeralda-Holding-Partners-With-LVMH-Hospitality-for-Romazzino-Pitrizza-Hotels

Sources: partners

PRESS2025-02-21

IGY Marinas Renews Agreement with Porto Cervo Marina and Shipyard in Sardinia, Italy, owned by Smeralda Holding

IGY Marinas
IGY Marinas is pleased to announce the renewal of its management agreement at the prestigious Porto Cervo Marina and shipyard owned by Smeralda Holding. IGY Marinas will continue to provide expertise in operations, marketing, branding, and customer service for Porto Cervo Marina as an IGY Destination.
value seen: IGY Marinas ... renewal of its management agreement at the prestigious Porto Cervo Marina and shipyard
held out of the figures · the quote does not carry this value
https://www.igymarinas.com/article/igy-marinas-renews-agreement-with-porto-cervo-marina-and-shipyard-in-sardinia-italy-owned-by-smeralda-holding/

Sources: partners

COMPANY2018-10-16

Partnership Nikki Beach - Smeralda Holding

Smeralda Holding
Nikki Beach, the most famous international luxury beach club brand in the world is located in the enchanting setting of Petra Ruja.
value seen: Nikki Beach
https://www.smeraldaholding.com/en/partnership-nikki-beach/

Sources: partners

COMPANY2018-03-31

Partnership Novikov - Smeralda Holding

Smeralda Holding
Its exclusive double-soul concept offers in the Asian Restaurant an oriental menu ... and in the Italian Restaurant an equally wide and refined offer of typical recipes of the regional traditions.
value seen: Novikov
held out of the figures · the quote does not carry this value
https://www.smeraldaholding.com/en/partnership-novikov/

Sources: partners

COMPANY2025-10-24

Report di Sostenibilità 2024

Smeralda Holding
Riforestazione della Posidonia oceanica nell’area del campo boe di Cala di Volpe, in partnership con One Ocean Foundation
value seen: One Ocean Foundation
https://www.smeraldaholding.com/wp-content/uploads/2025/10/REPORT_SMERALDA_HOLDING_ITA.pdf

Registrations & licences

COMPANY NUMBER03871350967
Registro Imprese / Italian business register (REA); fiscal identifier shown by the company · IT · active company identifier shown on the current official site
Jurisdiction-agnostic: a DLD number, a Companies House number and a state RERA registration all land in the same table.

Contact

Markets

1 countries
Italyactive 4 projects tracked
1 of 5 projects carry no country in the record — most of those name only a city — so they are not counted against a market here.

What they build

3 types
Hotel2 of 5
Retail2 of 5
Other1 of 5
A project counts once under each type it carries, so the shares add to more than the project count.

Management

Principals & executives

6 names found
FC
Franco Carraro
Current title
President
Experience
no career length stated
Companies before
none sourced
Education
not published
Other boards
none sourced
Known for
nothing tagged
https://it.linkedin.com/in/franco-carraro-a3578819a

Sources: title

COMPANYdate not shown in source

Porto Cervo between past and future

Costa Smeralda
The words of Franco Carraro, the current president of Smeralda Holding.
value seen: president of Smeralda Holding
https://www.costasmeralda.it/en/article/porto-cervo-between-past-and-future/
MF
Mario Ferraro
Current title
Chief Executive Officer, Smeralda Holding & Sardegna Resorts
since Apr 2016
Experience
no career length stated
Companies before
none sourced
Education
not published
Other boards
none sourced
Known for
nothing tagged
https://linkedin.com/in/mario-ferraro-65866337

Sources: linkedin page

SOCIALdate not shown in source

Mario Ferraro

LinkedIn
https://linkedin.com/in/mario-ferraro-65866337
value seen: https://www.linkedin.com/in/mario-ferraro-65866337
https://www.linkedin.com/in/mario-ferraro-65866337

Sources: since

SOCIALdate not shown in source

Mario Ferraro

LinkedIn
Chief Executive Officer - Smeralda Holding & Sardegna Resorts (Current) Apr 2016 - Present
value seen: Apr 2016
https://www.linkedin.com/in/mario-ferraro-65866337

Sources: title

SOCIALdate not shown in source

Mario Ferraro

LinkedIn
Chief Executive Officer - Smeralda Holding & Sardegna Resorts (Current) Apr 2016 - Present
value seen: Chief Executive Officer - Smeralda Holding & Sardegna Resorts
https://linkedin.com/in/mario-ferraro-65866337
MP
Mariano Pasqualone
Current title
Group Managing Director, Smeralda Holding Group – QIA parent company
since May 2012
Experience
no career length stated
Companies before
none sourced
Education
not published
Other boards
none sourced
Known for
nothing tagged
https://linkedin.com/in/mariano-pasqualone-9414635

Sources: linkedin page

SOCIALdate not shown in source

mariano pasqualone

LinkedIn
https://linkedin.com/in/mariano-pasqualone-9414635
value seen: https://linkedin.com/in/mariano-pasqualone-9414635
https://linkedin.com/in/mariano-pasqualone-9414635

Sources: since

SOCIALdate not shown in source

mariano pasqualone

LinkedIn
Group Managing Director - Smeralda Holding Group- QIA parent company (Current) May 2012 - Present
value seen: May 2012
https://linkedin.com/in/mariano-pasqualone-9414635

Sources: title

SOCIALdate not shown in source

mariano pasqualone

LinkedIn
Group Managing Director - Smeralda Holding Group- QIA parent company (Current) May 2012 - Present
value seen: Group Managing Director - Smeralda Holding Group- QIA parent company
https://linkedin.com/in/mariano-pasqualone-9414635
DC
Davide Cerea
Current title
Group CFO
since May 2017
Experience
no career length stated
Companies before
none sourced
Education
not published
Other boards
none sourced
Known for
nothing tagged
https://linkedin.com/in/davide-cerea-38741717

Sources: linkedin page

SOCIALdate not shown in source

Davide Cerea

LinkedIn
https://linkedin.com/in/davide-cerea-38741717
value seen: https://linkedin.com/in/davide-cerea-38741717
https://linkedin.com/in/davide-cerea-38741717

Sources: since

SOCIALdate not shown in source

Davide Cerea

LinkedIn
Group CFO - Smeralda Holding (Current) May 2017 - Present
value seen: May 2017
https://linkedin.com/in/davide-cerea-38741717

Sources: title

SOCIALdate not shown in source

Davide Cerea

LinkedIn
Group CFO - Smeralda Holding (Current) May 2017 - Present
value seen: Group CFO
https://linkedin.com/in/davide-cerea-38741717
TM
Tiziana Marongiu
Current title
Director of Business Development & Asset Management
since May 2022
Experience
no career length stated
Companies before
none sourced
Education
not published
Other boards
none sourced
Known for
nothing tagged
https://linkedin.com/in/tiziana-marongiu-456133

Sources: linkedin page

SOCIALdate not shown in source

Tiziana Marongiu

LinkedIn
https://linkedin.com/in/tiziana-marongiu-456133
value seen: https://linkedin.com/in/tiziana-marongiu-456133
https://linkedin.com/in/tiziana-marongiu-456133

Sources: since

SOCIALdate not shown in source

Tiziana Marongiu

LinkedIn
Director of Business Development & Asset Management - Smeralda Holding (Current) May 2022 - Present
value seen: May 2022
https://linkedin.com/in/tiziana-marongiu-456133

Sources: title

SOCIALdate not shown in source

Tiziana Marongiu

LinkedIn
Director of Business Development & Asset Management - Smeralda Holding (Current) May 2022 - Present
value seen: Director of Business Development & Asset Management
https://linkedin.com/in/tiziana-marongiu-456133
LG
Lucia Giancaspro
Current title
General Counsel
since Nov 2025
Experience
no career length stated
Companies before
none sourced
Education
not published
Other boards
none sourced
Known for
nothing tagged
https://www.linkedin.com/in/lucia-giancaspro-85583845

Sources: linkedin page

SOCIALdate not shown in source

Lucia Giancaspro

LinkedIn
https://www.linkedin.com/in/lucia-giancaspro-85583845
value seen: https://www.linkedin.com/in/lucia-giancaspro-85583845
https://www.linkedin.com/in/lucia-giancaspro-85583845

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Lucia Giancaspro

LinkedIn
General Counsel - Smeralda Holding (Current) Nov 2025 - Present
value seen: Nov 2025
https://www.linkedin.com/in/lucia-giancaspro-85583845

Sources: title

SOCIALdate not shown in source

Lucia Giancaspro

LinkedIn
General Counsel - Smeralda Holding (Current) Nov 2025 - Present
value seen: General Counsel
https://www.linkedin.com/in/lucia-giancaspro-85583845

Projects

Assessment coverage

Completed projects: 2016-10-15 through 2026-10-15. Initial research is capped at 10 completed projects and a separate delivery-risk search capped at 7 findings. Risk findings are not project assessment counts. Absence is not proof of a complete portfolio or no failures. Month-level dates overlapping a boundary are excluded from figures.

0 undated completions and 1 boundary-uncertain completions are retained but excluded from figures.

Stalled, cancelled & overdue projects

0 evidenced cases
The capped delivery-risk search ran; no project-level exception cases are recorded here. Risk findings are listed under Risks and are separate from assessed projects. This does not establish that the developer has no delivery failures.

Completed projects

5 projects
ProjectLocationTypeUnitsFloorsAreaCostPayment planLaunchedConstruction startOriginal targetHandoverDelayConfidenceStatus
Romazzino — first-phase outdoor and Beach Club renovationPorto Cervo, Italy
hotel—————202314 February 2023—Jun 2024—not scorablecompleted
A Mare Beach ClubPorto Cervo, Italy
Liscia Ruja
retail————————Jan 2024 – Dec 2024—not scorablecompleted
Hotel delle Vigne — staff-accommodation refurbishmentnot published
other891————202220 Dicembre 2022Jun 2023 – Dec 2023Jan 2024 – Dec 2024+9.5 mo
(+1.0 to +18.0)
sourcedcompleted
Hotel Cala di Volpe — full refurbishmentPorto Cervo, Italy
Cala di Volpe
hotel—————20182018Jan 2019 – Dec 2019Jan 2023 – Dec 2023+48.0 mo
(+37.0 to +59.0)
sourcedcompleted
Quattropassi al Pescatore — restaurant refurbishmentPorto Cervo, Italy
retail—————201827 March 2018—Nov 2018—not scorablecompleted
Click any row for the sources behind it. Cost basis matters: an estimated cost, a construction loan and a sale price are different numbers. Each row states which one it is, so they are never averaged together.

Awards

Awards & recognition

5 found
SUSTAINABILITY Certified 22 December 2025 (reported); certification registered 1 December 2025
Porto Sostenibile® (Sustainable Marina) Certification · Porto Cervo Marina
Porto Cervo Marina, an asset of Smeralda Holding, obtained the Porto Sostenibile® certification and ethical sustainability labels covering ESG rating and reporting.
FIDESG Sustainable Marina; verified by DNV and recognized under an ACCREDIA-approved scheme · https://www.portocervofficial.it/la-marina-premiata-con-la-certificazione-di-porto-sostenibile/
RANKING Ranked 2025
Blue Marina Awards 2025 · Porto Cervo Marina
Porto Cervo Marina was listed among the 2025 Blue Marina Awards winners in the category of tourist ports with a superyacht focus and more than 500 berths; the marina is identified in independent reporting as belonging to Smeralda Holding.
Blue Marina Awards, promoted by Assonautica Italiana and ASSONAT, with RINA technical verification · https://www.bluemarinaawards.com/vincitori-blue-marina-awards-2025/
RANKING Ranked 15 November 2024
Blue Marina Awards 2024 · Porto Cervo Marina
Porto Cervo Marina Srl was one of the 18 structures receiving the Blue Marina Awards 2024 mark of recognition and certification for performance relating to sustainability, safety, inclusion and tourist hospitality.
Blue Marina Awards, promoted by Assonautica Italiana and ASSONAT, with RINA technical verification · https://www.bluemarinaawards.com/premiati-blue-marina-awards-2024/
SAFETY / QUALITY Winner 2023
Special BMA Award for Best Italian Tourist-Hospitality Facility · Marina di Porto Cervo
Marina di Porto Cervo received the special BMA award for the best Italian facility for tourist hospitality; the reporting source identifies it as an asset of Smeralda Holding.
Blue Marina Awards; promoted by Assonautica Italiana and ASSONAT, with RINA technical assessment · https://www.internews.biz/smeralda-holding-alla-marina-di-porto-cervo-due-importanti-riconoscimenti-…
SUSTAINABILITY Certified 22 August 2023 (reported)
Blue Flag · Porto Cervo Marina
Porto Cervo Marina, identified as part of Smeralda Holding’s assets, retained the Blue Flag for the fourth consecutive year after meeting environmental-quality objectives for water, services, cleanliness and sustainability.

Risks

Risk flags

4 found
LEGAL 2025-11-26
A corruption case concerning alleged payments and alleged interference with municipal building inspections at Smeralda-linked hotels ended in November 2025 with the Sassari Court of Appeal acquitting former Sardegna Resorts CEO Mariano Pasqualone and the Sardegna Resorts and Land Holding companies; the earlier first-instance outcome had been prescription, and the allegations were not established against those defendants.
ALLEGATION 2022-02-23
In February 2022, the Tempio Pausania court declared no grounds to proceed because of limitation for alleged corruption linked to Costa Smeralda hotel-expansion permits, including allegations involving Smeralda Holding president Franco Carraro and former Sardegna Resorts managers; the report states that part of the allegations against four other defendants continued, so this was not a finding that corruption by Smeralda Holding was proven.
FINANCIAL DISTRESS 2016-12-24
In December 2016, prosecutors’ bankruptcy petition against Colony Sardegna Sarl, the former owner associated with the Costa Smeralda sale before the Qatar acquisition, was extinguished through a €22.7 million tax settlement after authorities had alleged €170 million of tax exposure; the matter was against Colony Sardegna rather than a finding that Smeralda Holding itself became insolvent, and the parties disputed the tax allegations.
DELIVERY DELAY Original completion commitment: 2024 (published 2021); continuing works tender published 12 December 2025; later completion estimate: 2026 (published 2023).
The Cervo Tennis Club conversion in Porto Cervo, being delivered by Smeralda Holding through Sardegna Resorts Srl, was originally announced for completion in 2024 but remained under procurement for further civil, structural and plant works in December 2025; a later estimate placed completion in 2026, so the evidence supports an overdue/revised delivery rather than cancellation.

Record status

active
Coverageactive
Tracked sinceOctober 11, 2026
Last checkedOctober 11, 2026 this month
Profile last researchedOctober 11, 2026
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