(Visited 81 times, 1 visits today)
(Visited 81 times, 1 visits today)
  • Transaction / Assets
    Nine luxury hotels
  • Seller
  • Buyer
  • € MM

Funds are buying luxury hotels

19 February, Il Sole 24 Ore

The group Boscolo has been transferred to the American fund Varde for an equity value of 150 million. Varde had already acquired the debts of the financing banks. The perimeter of the operation is composed of a portfolio of nine directly owned luxury hotels in Rome, Venice, Florence, Nice, Budapest, Prague and one leased in Milan. The Boscolo family has kept the ownership of the brands Boscolo and Exedra. The Bauer Hotel in Venice was transferred in August 2017. The fund Elliott acquired 75% of it together with the London-based financial group Blue Skye that had previously acquired its debts. The remaining 25% has been kept by the family Bartolotto Possati.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

(Visited 81 times, 1 visits today)

Read more:
Hig bought offices in Milan in Corso Italia

12 April, Il Sole 24 Ore Hig is riding the trend of growth the city is currently enjoying and has...