One of Rome’s most luxurious hotels is being launched for sale with offers being sought for over €100 mln, PropertyEU has learned.
Located on Rome’s Via Veneto, one of the Italian capital’s most elegant and expensive streets in the city centre, the Hotel Majestic has been put on the market by advisor Cushman & Wakefield on behalf of the owners, a family-owned private company.
Designed by architect Gaetano Koch in 1889, the historic five-star hotel provides 98 rooms and suites, restaurant and a cocktail bar with terrace overlooking the world-renowned street.
The sale mandate comes hard on the heels of another hotel sale in the Italian capital. Earlier this week, local investment firm Arsenale spa bought the historic Grand Hotel de la Minerve in Rome’s city centre for an undisclosed amount.
It is also the latest hotel to be put up for sale across Europe following a very challenging 12 months for the sector as a result of the pandemic. PropertyEU just reported that a family-owned hotel chain known as Selenta is being sold in Spain for between €400 and €450 mln.
In Portugal, Portuguese private equity firm ECS has put a portfolio of roughly 20 Nau hotel properties in Portugal on the market for a price of over €1 bn. The sales process, known as Project Crow, involves the disposal of two recovery funds which own the hotel properties spread across Portugal including the five-star Palácio do Governador in Lisbon.