Aermont Capital is betting on luxury hotels in Italy. The London-based European real estate business has announced a strategic partnership with Pellicano Hotels. The plan is to invest €200 million to expand the portfolio from three to ten “destination hotels”.
“Our plan is to expand and triple the number of hotels we manage within six to eight years, so I am delighted to partner with Aermont to support our next phase of growth and further develop our unique positioning,” said Marie-Louise Sciò, Pellicano Hotels’ CEO and creative director.
Pellicano Hotels currently operates three Italian hotels: The Hotel Il Pellicano in Porto Ercole, a five-star seaside hotel in Tuscany; La Posta Vecchia outside Rome, the former home of Jean Paul Getty; and the Mezzatorre Hotel & Thermal Spa, a luxury hotel in seven hectares of Mediterranean greenery on the island of Ischia.
“We are firm believers in Pellicano Hotels’ ability to deliver out of the ordinary, authentic experiences to sophisticated international travellers,” said Paul Golding, managing partner, Aermont Capital. “The team has done a tremendous job in cultivating that unique offering and expanding the business in a sector that continues to demonstrate huge growth potential. We are delighted to support the business as it pursues an ambitious expansion plan that will see it consolidate its position as the country’s most exciting luxury hospitality business.”
Aermont Capital’s strategy is focused on long-term value creation. The company, which already has a presence in Italy, has also invested in Pinewood Studios in the Netherlands and in The Student Hotel in the Netherlands.
“We chose Aermont as our partner because of their shared passion and commitment to preserving and showcasing Italy’s rich and beautiful heritage by curating experiences deeply rooted in Italian culture,” said Sciò. “In a rapidly globalising industry where everything seems uniform, we dare to swim against the current. Each of our hotels is beloved for a unique identity and style, intricately connected to a rich history and local surroundings.”
Hospitality is a strong sector in Italy, which is the European country with the highest revpar (revenue per available room), but it is still very fragmented. Increasing demand has led to a strong pipeline, especially in the luxury sector: in Rome alone, new openings expected between now and 2024 include Bulgari, Nobu, Corinthia, Rosewood, Four Seasons, Mandarin and Orient Express.