Projects

Led and facilitated the acquisition of a 779-key portfolio of 4 Holiday Inn branded hotels located across Rome, Venice and Milan by an institutional investor. The acquisition was completed in Q3 2020 and involved the real estate properties and related businesses, including over 100 employees. The 4 hotels were reopened in Q2 2022 under the Belstay brand following a major renovation. The repositioning entailed the de-branding from Holiday Inn, the creation of two proprietary brands and the reorganization of the operating company through the inclusion of high-profile managers, the implementation of new systems and SOPs. The aim is to create a new Italian chain of full-service hotels with a modern design, a strong identity and an attractive F&B offer, with strong growth potential across the country. Garnet acts as operating partner of the investor and asset management company leading the repositioning in every aspect of the business and supporting and overseeing operations.

Originated and facilitated the acquisition of a 235-key 5-star property located in central Rome, formerly known as Hotel Radisson Blu Es, by an institutional investor and is currently managing the asset repositioning, including:

• Definition of the product strategy and positioning
• Affiliation of the hotel to a leading international brand under a franchise agreement
• Selection of technical partners, studios and consultants required to execute the full-renovation of the hotel
• Definition and review of the capex plan and coordination and supervision of its implementation
• Creation of the operating structure and build-up of a management team dedicated to the hotel
• Project start-up in line with brand standards
• Operational asset management and implementation of the commercial and operational strategy aimed at maximizing the financial return for the investor