PERIAL Asset Management acquires a luxury resort & spa in Venice

2 min reading time

Published on 01/08/22 - Updated on 01/08/22

Resort & Spa Almar Jesolo

The real estate fund management company has purchased the Almar Jesolo Resort & Spa on behalf of its SCPI PF Hospitalité Europe. This move will enable the SCPI to position itself in the European hospitality sector.

Built in 2014, the Almar Jesolo is a 5* hotel covering 13,079 m² on the Adriatic coast and located just a few kilometres from Venice. It features 179 rooms and 18 suites, all with private terraces. A 130-space underground car park is also available for guests.

The complex has six meeting rooms, four dining areas, a swimming pool, a 12,000 m² private beach and a spa with 14 treatment rooms, a sauna and a fitness area.

The transaction was conducted through Hova. Savills as well as Gitti and Partners advised PERIAL AM during the transaction. The operator, HNH Hospitality S.p.A., will manage the hotel under a long-term 18-year lease.

This transaction illustrates our confidence in the hotel sector, which is returning to its pre-crisis levels and is benefiting from the "revenge travel" trend. Almar Jesolo is also a recent property with high quality facilities and a recognised local operator with a secure long-term lease. [...] In addition, a plan to reorganise the building has already been agreed, which will increase the building's capacity and thus increase the occupancy rate and the associated return.

Laurent Boissin, Deputy Managing Director in charge of Fund Management at PERIAL Asset Management

This transaction is fully in line with the strategy of our SCPI PF Hospitalité Europe, which targets real estate assets in the managed accommodation sector and thus enables it to deploy its portfolio in a new European country with a deep market, Italy. For this first investment, we approached a quality operator in HNH Hospitality, and focused on a region that is dynamic throughout the year in terms of tourism.

Stéphane Collange, Investment Director at PERIAL Asset Management

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