The business has acquired a resort hotel on Sardinia’s Costa Smeralda, marking an addition to its growing portfolio of four hotels in Italy.
With this strategic acquisition, Limestone aims to elevate the property to a modern five-star standard and enhance operational performance to drive profitability. The luxurious five-star resort is set to open in May 2024 under the Aethos brand. The hotel will have a total of 63 rooms and suites and amenities like freshwater pools and a gym.
Benjamin Habbel, CEO of Limestone Capital, said: “This acquisition represents a great milestone for Limestone Capital by expanding our presence in Italy and adding a luxurious asset in a globally renowned resort destination to our European portfolio. We are deeply committed to the growing hospitality sector in Europe and actively exploring numerous avenues for value-add acquisition and growth.”
Limestone Capital Co-Founder, Jeff Coe said: “This transaction reconfirms Limestone Capital’s conviction in the long-term prospects for the European leisure market and our belief that there is also significant pent-up demand for leisure travel. As we progress with our strategic growth plan, bolstered by existing assets across France, Spain, Italy and Portugal, renowned for their top-tier hospitality, acquiring this hotel underscores our dedication to the European hotel sector.”
