Mario Gizzi, who co-founded the business in 1983, with his cousin Toni Conetta, said the new venture will be mainly targeted towards business people and visitors lured to Glasgow for events at The SSE Hydro or shopping trips.
He said, “We are on schedule to open an £8m premium aparthotel in St Vincent Place, above The Anchor Line, in spring next year.
“It will have 64 rooms, including six penthouse suites.”
Gizzi added, “It’s a very significant venture for us but we have carried out a great deal of market research and are aiming firmly at businesspeople visiting the city, as well as visitors taking in shows at The Hydro or on shopping trips to Glasgow.
“Guests won’t just benefit from the luxury accommodation and city centre location, but will also be able to take advantage of The Anchor Line’s menu for breakfast, lunch and dinner.”
The announcement came after The DRG, which owns 18 restaurants across Scotland including Di Maggio’s and Café Andaluz, announced a turnover increase by 12.4% to £33.7 million for the financial year to April 30, 2016.
During that period, profits increasing 22% to £5.76m, as The DRG invested over £2m in new restaurants and grew its workforce 13.6% from 690 to 784 employees.
The DRG will also open a new £2m flagship restaurant and bar development, Registers, in Edinburgh’s St Andrew Square in spring 2018, taking the group’s Edinburgh portfolio to four.
Toni Conetta added, “It’s been a strong 12 months but we’re determined not to rest on our laurels.
“The coming year will see our biggest-ever capital investment in new premises and a huge expansion of professional training programmes for our people, so it’s an exciting time to be involved in the business.”