The fast-growing boutique hotel investment fund has announced the acquisition of Hotel U Palazzu Serenu.
With a growing portfolio of boutique hotel developments across Europe, Limestone has again targeted a location with genuine growth potential. Set at the foot of Oletta, one of the most striking villages in Corsica, the hotel boasts an authentic atmosphere and beautiful location. The hotel is integrated into the local community, complementing Limestone’s inclusionary approach and the foundation of its transformation process.
This acquisition builds on previous investments in Italy and Portugal. Limestone’s data-driven research, together with qualitative network-driven research, foresees a strong recovery in boutique properties in the European Union as certain segments of tourists return to travel and spend over-proportionally to the rest of the industry.
Benjamin Habbel, Managing Partner of Limestone Capital said: “We continue to see excellent opportunities in the boutique hotel sector across Europe with double digit return potential. With recent major steps towards the full reopening of the international hospitality sector, we are confident that recovery following COVID-19 will be swift for premium assets in sought-after destinations. U Palazzu Serenu is an exceptional opportunity with the potential to deliver strong yields. It will benefit from centralized revenue management, tech-driven distribution and services, and experienced management. It helps that Corsica is one of the few undiscovered gems of Europe. We expect strong growth from arrivals from Northern Europe, Germany, and the US.”
