JP Hospitality Investors Club has acquired the mid-scale Hotel Milano in Madonna di Campiglio, a ski and summer resort in northern Italy.
Financial details were not disclosed.
JPI Hospitality is an owner-controlled group of investors headquartered in Vienna, Austria.
The property is located in the centre of the resort, providing guests with easy access to both the ski slopes and the picturesque mountains, plus nearby restaurants, stores, and tourist attractions.
Daniel Jelitzka, founder of JPI Group and chairman of the advisory board of JP Hospitality said: 'Madonna di Campiglio is a unique ski resort with a special charisma in the northern Italian Alpine region and, due to its location and infrastructure, offers ideal conditions for a variety of winter and summer tourism activities.
'With a revitalised hip hotel and an attractive F&B offering, we will cover the resilient and highly sought-after lifestyle segment here, as we have done at other locations before.'
Hotel Milano was constructed in the 1960s and currently comprises 44 rooms out of which 38 with balconies, a restaurant, a bar and a lounge area, with a total GFA of about 2,900 square meters. Additionally, it features multiple wellness facilities, including a bio-sauna, solarium, and gym.
"With a clear concept, we will redesign an existing structure in a contemporary way and develop it into an alpine lifestyle hotel at one of the most attractive alpine winter and summer tourism locations in Europe at 1,600 meters above sea level," said Lukas Euler-Rolle, managing partner and CEO of JP Hospitality.
Gebhard Schachermayer, corporate account manager and hotel expert at JP Hospitality, added that 'the vintage hotel is ideally located in the centre and has high catch-up potential with a contemporary F&B and wellness offer'.
PKF hospitality group acted as commercial advisor to JP Hospitality in the transaction.
Giorgio Bianchi, head of Italy at PKF hospitality group said: 'We are very happy to have worked with JP Hospitality on this operation, because it demonstrates once again, after Trieste, that the hotel real estate market is not only in the big four.
'There are very interesting opportunities also in alternative destinations with significant growth and development potential. Madonna di Campiglio is a destination with an important international market during the winter season, but with the possibility of growth also in the summer and early autumn months.'
Numerous F&B outlets and shops can be found that reflect the local identity. This resort destination welcomed more than 275 thousand arrivals and hosted 1.25 million overnights in 2019 with peak demand in the winter for international arrivals and in the summer for domestic visitors.
