The Belstay brand has been officially launched. In particular, the brand was born with the repositioning and rebranding of a portfolio of 4 Holiday Inn hotels for a total of 777 keys. Belstay Hotels, a newly established domestic brand, has an upscale positioning and sees sub-urban locations as target destinations. The brand was launched by Hotel OpCo: an operating company wholly owned by funds managed by the investment company Blantyre Capital, which had taken over the portfolio of Holiday Inn ca. two years ago, through a fund of InvestiRE. In this context Garnet Hospitality Partners will act as the asset manager of the portfolio. In particular, the repositioning and rebranding operation involved the following structures:

• Holiday Inn Roma Aurelia, with 245 keys;

• Holiday Inn Linate Airport, from 142 keys;

• Holiday Inn Milano Assago, from 203 keys;

• Holiday Inn Venezia Mestre Marghera, from 187 keys.