HSBC Assurances Vie has closed the acquisition of the Club Med Pragelato resort near Turin in Northern Italy from Recreaction Srl for around €50 mln.

HSBC Assurances Vie has closed the acquisition of the Club Med Pragelato resort near Turin in Northern Italy from Recreaction Srl for around €50 mln.

Opened in 2012, the four-star Club Med Pragelato consists of 234 rooms over a total of 20 chalets located in one of Europe's most famous ski locations.

JLL’s Hotels & Hospitality Group Italy brokered the deal.

Recreaction Srl, led by Mark Shaw, is part of UK-based hotel asset management group Finlaggan Limited.