The key points
- The operation
- The group
- The consultants
Bluserena becomes Spanish. As a note informs Azora, through Azora European Hotel & Leisure, FCR (“AEHL”), has completed the acquisition of Bluserena SPA, the second leisure hotel company, from the Maresca family.
Founded in 1985 by Carlo Maresca SPA, Bluserena manages a portfolio of 13 hotels, 8 of which are owned, in the main Italian tourist destinations, including Sardinia, Sicily, Puglia, Abruzzo, Piedmont and Calabria.
The portfolio acquired by Azora, of over 4,200 rooms, consists of 11 4-star hotels and 2 5-star beach resorts with all-inclusive service.
The operation includes both the hotels and the management company which will continue to be based in breaking latest news. The objective of the operation is to strengthen the Bluserena brand, with an investment program of 30 million. The company’s growth in the Italian market will be strengthened through new hotel acquisitions and new lease and management contracts to consolidate itself as a leading player in the country.
Concha Osácar, co-founder of Azora, said: «This operation reconfirms Azora’s belief that there is a significant demand for travel due to Covid and that there will be a strong recovery in the market as vaccination progresses in Europe. . The acquisition of this large Italian operator is part of our commitment to the European hotel market and in particular in Italy, both for the strength of the domestic tourist market and for the growing presence of international tourists in destinations such as Puglia, Sicily or Sardinia ».
Silvio Maresca, at Bluserena, added: «We believe that Bluserena is ready to make a new qualitative leap with a European fund like Azora, which seemed to us the most suitable partner to continue Bluserena’s history and improve its growth. He saw in Bluserena a leading hotel management platform in Italy and, as such, a tool for future development. Bluserena is now starting a phase of growth in the Italian market which will create opportunities for the company staff and the city, keeping the headquarters in breaking latest news ».
Last September Azora closed its latest pan-European hotel investment fund reaching 815 million in total commitments, plus additional co-investment capital. With the acquisition of Bluserena SPA, it will have committed 56% of its investment capacity.
The Fund invests in European tourism, a segment with a long-term growth trend and a clear recovery scenario after the pandemic. The Fund aims to invest both in traditional seaside and mountain destinations, as well as in the main European tourist cities.
This operation is the fifth carried out by the Fund since its establishment, after the acquisition of the initial portfolio (consisting of 10 resort hotels and 4 urban hotels throughout Europe), the Giverola Resort, a hotel on the Costa Brava, and the purchase of Tivoli Vilamoura, Tivoli Carvoeiro and Vilalara ThalassaResort, in the Portuguese Algarve region. The fund already has a portfolio of 31 hotels in Europe.
Cbre, as Financial Advisor, and Chiomenti, as law firm, assisted Carlo Maresca SPA while Azora was legally assisted by BonelliErede.