The historic Odeon cinema in Milan is closing for its transformation into an experience center by 2024, with plans to retain some screening rooms and introduce retail, dining, and office spaces. Another example is the reopened former Maestoso cinema in Milan, now focusing on sports activities. In Rome, the second location of the Accademia Costume...Read More
Private equity firm KSL Capital Partners has acquired Hersha Hospitality Trust. The transaction, valued at approximately $1.4 billion, is expected to close in the fourth quarter of 2023. According to the terms of the deal, KSL will acquire all outstanding common shares of Hersha at a price of $10 per share. The purchase price represents...Read More
Global Asset Solutions has just published its Italian Hotel Market Outlook for 2023. The report outlines how Italy as a destination is undoubtedly popular amongst international travellers, with the number of nights spent by foreign visitors consistently amongst the top three EU countries. In 2022, it ranked second only after Spain. Post-pandemic, following the remarkable...Read More
KSL Capital Partners, a private equity firm specializing in the travel & leisure sector, has acquired a majority stake in Sereno Hotels through one of its corporate vehicles. Founded over 20 years ago by the Contreras family, Sereno Hotels is the owner-operator of the award-winning luxury hotel, Il Sereno, located on the shores of Lake...Read More
Anima Holding has completed the closing for the acquisition of 80% of Castello SGR for a total value of €60 million, to which an additional €1.7 million is added for the estimated net financial position. Anima’s strategy is to further grow Castello SGR’s existing platform in the alternative investments market. The funds managed by Oaktree...Read More
The Chains Monitor 2023 by THRENDS (sponsored by Dorelan) provides an update on hotel chains in Italy. In the first half of 2023, 141 new affiliations and 89 disaffiliations were reported, with the majority in the upscale segment. For the next few years, 164 development projects are planned, with luxury hotels being the focus and...Read More
The boom of American tourism to Italy, fueled by a strong dollar and improved air travel connections, is projected to decelerate in the near future. The forthcoming 2024 presidential elections are likely to contribute to a temporary slowdown in American travel. Hospitality operators are shifting their focus towards high-spending markets like India and China to...Read More
The Imperial Sport Hotel Pesaro, a 4-star hotel with 47 rooms, is the latest property to join the UNA Group under a franchise agreement. The hotel has recently undergone renovations and has been repositioned as a 4-star establishment. The facilities include a restaurant, a bar, a fitness area, and a swimming pool. The UNA Group...Read More
According to a recent analysis by the Hoteltransactions.it platform by THRENDS, in the first half of this year, there were fewer hotel transactions both in terms of number and volume compared to the first half of 2022. Specifically, there were 62 transactions compared to 103, with a volume of approximately €539.2 million* versus approximately €1.3...Read More
The Public Investment Fund (PIF), the Sovereign Wealth Fund of Saudi Arabia, chaired by Prince Salman bin Abdulaziz Al Saud, is reportedly set to enter the capital of Rocco Forte Hotels by acquiring a 49% stake. As per the current situation, the fund would exit the capital of the company Cassa Depositi e Prestiti, which...Read More
