How Passalacqua was discovered

Part I: The Business of Six Figure Travel

How does one quantify the thesis that affluent consumers are prioritizing experiences over possessions? Luxury travel advisory SmartFlyer reports a 75% year over year increase in trips exceeding $500,000, alongside a 41% rise in bookings between $100,000 and $499,000.

In this mini segment, SmartFlyer COO Erina Pindar shares what is fueling this growth, from multi-generational safaris in Botswana to Antarctica by private jet and yacht-hopping across the Mediterranean. She explains why modern luxury is defined by privacy, access, and highly personalized execution.

At this level, it’s not just about the hotel. It’s about designing a journey that feels entirely your own.

This episode is made possible by SmartFlyer. Follow @smartflyer on Instagram or visit smartflyer.com to learn more.

Part II: Dreams Don’t Have a Price”: The Philosophy Behind Lake Como’s Most Iconic Hotels

Valentina De Santis is a third-generation hotelier and the owner of two of Lake Como’s most celebrated properties: the iconic Grand Hotel Tremezzo and the intimate 24-room villa hotel, Passalacqua — which debuted at #1 on The World’s 50 Best Hotels list in 2022.

Her family has shaped Lake Como hospitality for over half a century. In the 1970s, her grandfather acquired the historic Grand Hotel Tremezzo — originally built in 1910 to serve Europe’s aristocracy — and restored it to its former grandeur. What began as a bold entrepreneurial leap became a generational legacy rooted in independence, long-term stewardship, and an uncompromising belief in beauty.

Born and raised on the shores of Lake Como — quite literally in the back corridors of the Grand Hotel Tremezzo — Valentina grew up immersed in the rhythms of hospitality. Today, she serves as both custodian and visionary for her family’s portfolio, expanding it thoughtfully while preserving its soul. Alongside her parents, she led the acquisition and transformation of Passalacqua, an 18th-century villa that had been a private home for over 200 years before reopening as one of the most celebrated boutique hotels in the world.

In an era dominated by global hotel groups and private equity, Valentina remains fiercely committed to family ownership, financial independence, and building for continuity — not exit. Her philosophy blends instinct with discipline, emotional intelligence with operational rigor, and above all, a deeply Italian belief in villeggiatura: the art of slow, meaningful travel.

This interview was filmed at Casabianca in Lake Como, the De Santis family's art gallery showcasing their personal collection of modern and contemporary art.

Interview Highlights

• Growing up inside the Grand Hotel Tremezzo and witnessing Lake Como’s evolution

• The four-week auction battle that led to acquiring Passalacqua

• Restoring an eighteenth-century villa under Italy’s preservation laws

• Winning number one in the world and choosing to change nothing

• The philosophy of villeggiatura and creating hotels that slow guests down

• The subtle operational details that quietly define true luxury

• Designing for conviction instead of guest expectations

• Why financial independence is non-negotiable

• Defining success through continuity rather than exit

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