Dolce International, the conference centre and hospitality group owning 26 hotels and conference centres across North America and Europe, said it is to carry out a major recapitalisation aimed at repositioning itself as a pure play management company as well as allowing rapid expansion in the US and Europe.
Dolce International, the conference centre and hospitality group owning 26 hotels and conference centres across North America and Europe, said it is to carry out a major recapitalisation aimed at repositioning itself as a pure play management company as well as allowing rapid expansion in the US and Europe.
Under the plan, private equity real estate firm Broadreach Capital Partners is acquiring 85% of Dolce International from exiting investors AEW Capital Management of Boston and Soros Real Estate Investors for an undisclosed sum. Dolce management will hold the remaining 15%. The deal gives Dolce International a new partner with extensive experience in building operating companies, committed to growing the company and further positioning the brand within the conference centre industry, Dolce said in a statement.
'This recapitalisation is an integral part of our strategic plan to take the Dolce brand to a new level,’ said Andy Dolce, the company's chairman and managing director. 'Today we serve over half of the world’s Fortune 100 firms. Over the next five years we expect to double in size so we can serve the rest of them.'
Dolce International is a global hospitality company with about 4,000 employees headquartered in Montvale, New Jersey and Paris, France. In Europe, its assets include the Dolce Bad Nauheim hotel in Frankfurt, and the Dolce Chantilly in Paris.
