The luxury hotels business is currently a hot favourite among real estate investors in Italy. Only the last week the international hotel chain Four Seasons had various offers which reached came to as much as EUR 2.8 bn from Bill Gates, the Saudi prince Al Waleed Bin Tahal and the president of the hotels chain Isadore Sharp. For Al Waleed it was the second operation of this kind, after he acquired Fairmont for EUR 3.04 bn.
The luxury hotels business is currently a hot favourite among real estate investors in Italy. Only the last week the international hotel chain Four Seasons had various offers which reached came to as much as EUR 2.8 bn from Bill Gates, the Saudi prince Al Waleed Bin Tahal and the president of the hotels chain Isadore Sharp. For Al Waleed it was the second operation of this kind, after he acquired Fairmont for EUR 3.04 bn.
Giuseppe Statuto, a major Italian real estate agent, has already invested a billion dollars in 5-stars hotels and he started a partnership with the north American chain Starwood. Lately he bought six hotels in Milan and he is now looking at foreign cities, including London and New York.
The Italian hotel market is really active at the moment and many transactions have taken place recently. Spain’s NH Hotels acquired the Framon group; and Sardinia’s Forte Village is now up for sale, while Hotel Gallia in Milan has already had around twenty different offers. Both Accor, Pirelli Re and Una Hotel, as well as some Arab investors appear keen to get into the hotel market.
