Swiss private equity firm Limestone Capital has acquired a luxurious resort hotel on Sardinia’s Costa Smeralda, bringing its Italian hotel portfolio to four properties.
Limestone plans to reposition the property as a five-star Aethos hotel, with the new resort set to open in May 2024.
The hotel will have a total of 63 rooms and suites, with amenities like freshwater pools and a gym. The interior design will be executed by Barcelona-based Astet Studio.
Benjamin Habbel, CEO of Limestone Capital, said: 'This acquisition represents a great milestone for Limestone Capital by expanding our presence in Italy and adding a luxurious asset in a globally renowned resort destination to our European portfolio.
'We are deeply committed to the growing hospitality sector in Europe and actively exploring numerous avenues for value-add acquisition and growth.'
Limestone Capital co-founder, Jeff Coe added: 'This transaction reconfirms Limestone Capital’s conviction in the long term prospects for the European leisure market and our belief that there is also significant pent-up demand for leisure travel.
'As we progress with our strategic growth plan, bolstered by existing assets across France, Spain, Italy, and Portugal, renowned for their top-tier hospitality, acquiring this hotel underscores our dedication to the European hotel sector.'
