Iconic Italian Hotel Resort Acquired by London Investment Firm
Iconic Italian Hotel Resort Acquired by London Investment Firm
(Bloomberg) -- Centricus has acquired the iconic Capri Palace Hotel & Spa as it makes a foray into the high-end hotel and resorts sector.
Centricus, a London-based investment firm that oversees more than $23 billion in assets, has purchased all of the resort, which is located in Anacapri, a small town in the northwest of the island off the Italian coast, according to a statement seen by Bloomberg. It features 68 guest rooms and is home to Capri’s only two Michelin-starred restaurants. Guests have included Oprah Winfrey, Leonardo DiCaprio and Gwyneth Paltrow.
No financial terms of the transaction was disclosed.
Lured by high returns, capital is flowing into high-end resorts and hotels from alternative investment managers and strategic buyers. French luxury giant LVMH agreed to buy Belmond Ltd., owner of New York’s ‘21’ Club and luxury resorts around the world, for $2.6 billion last year. The owners of the Ritz-Carlton New York, Central Park are exploring a sale after receiving interest from potential buyers, people familiar with the matter said in May.
Centricus was founded by former Deutsche Bank AG banker Nizar Al Bassam and Dalinc Ariburnu, a former partner at Goldman Sachs Group Inc. The firm focuses on investments in sectors such as financial services and infrastructure among others. It also helped Masayoshi Son raise a $100 billion technology fund.
To contact the reporter on this story: Dinesh Nair in London at dnair5@bloomberg.net
To contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net, Matthew G. Miller, James Ludden
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