Arsenale signs a partnership with Oaktree Capital Management. The company, active in tourism and luxury hospitality in Italy, will have funding from funds managed by the American financial group for up to 300 million euros, aimed at supporting its expansion and growth on the Italian market.
Funding from Oaktree, in debt of 135 million and the rest 165 in equity according to rumors, it allows Arsenale to invest new capital in Italy for the realization of its current pipeline projects in the hotel industry, which include the future Orient Express Hotel de La Minerve in Rome and Palazzo Donà Giovannelli in Venice, and in the train segment of luxury, with the possibility of acquiring new structures in Italy in the “destination” segment. With this operation the company, valued at 680 million pre-deal and 800 million post-transactionfully finances the projects it has until 2026.
“Arsenale was created to become a reference in the Italian luxury hospitality market and the support of an international fund such as Oaktree consolidates our presence in the area, with a financial strength that allows us to compete with the major international groups” comments Paolo Barletta , CEO of Arsenale, who adds: “The excitement throughout the peninsula with the new hotel openings confirms the interest that Italy maintains in the world panorama and we believe that now more than ever we need to work to lay the foundations for the next 50 years of hospitality made in Italy ».
In December 2021, the Italian company announced the creation of the new Orient Express “La Dolce Vita” in collaboration with Accor, Trenitalia-Gruppo Ferrovie dello Stato and Fondazione FS, providing for a fleet of 6 luxury trains that will operate with dedicated routes in Italy and in Europe. The Oaktree investment will concretely help the development and launch of the project, which will be operational in 2023. As regards Palazzo Donà Giovannelli in Venice, according to rumors, operator changes may soon arrive compared to the current Rosewood.
Arsenale, born from the partnership between Paolo Barletta and Annabel Holding, will continue to have the two founders as majority shareholders while Oaktree will have a stake of less than 20%. «This partnership testifies to the strong position reached by Arsenale in the Italian hospitality sector, of which we are extremely proud. The launch of the Orient Express “La Dolce Vita” and the opening of our hotels will lead to the recruitment of over 420 new professionals who we aim to hire from among the young graduates of our training schools “underlines Nicola Bulgari, headed by Annabel Holding.