Valtur transfers three resorts in the historic Italian tourist locations of Marina di Ostuni, Marilleva and Pila to Cassa Depositi, while maintaining their management and availability in the long term. The acquisition by Cassa depositi e prestiti – carried out through Cdp Investimenti Sgr on behalf of the real estate fund FIT-Fondo Investimenti per il Turismo – thus develops within the development strategy of a large Italian hotel chain, and is part of the broader project to promote an evolution of the business model of the sector through the separation of property ownership from hotel management.
Valtur will therefore maintain the management of the three resorts which will continue to be part of the group's exclusive portfolio and, thanks to a long-term lease agreement, will have the assets available for 30 years. The value of the acquisition was around 43,5 million euro. To this amount are added further investments agreed by both partners for a value of 32,9 million, of which 6,5 to be paid by Valtur, for a total operation of over 75 million euros.
The investments include the renovation and implementation of the Valtur structures, in order to enhance the offer, improving the services and accommodation capacities of the resorts, promote the unique style of the brand and strengthen its leadership position in the hospitality segment. In particular, the restyling of the Valtur snow resorts in Pila and Marilleva will continue and, thanks to the invaluable work of the architect Renzo Costa, designer for important international hotel chains, the modernization and expansion works of the Ostuni resort will begin with the construction of 100 new rooms, conference spaces and an important SPA, all in full respect of the environment and the architecture of the area.
“We are happy to have been the first to complete the operation announced in June by CDP. Two Italian partners have created an important precedent for future collaborative activities between public and private institutions in the strategic sector of tourism – declared Elena David, CEO of Valtur – Thanks to these investments in the historical and identifying structures of Valtur, we are convinced that we will witness a further strengthening of the brand which for over 50 years has been synonymous with Made in Italy hospitality and holidays, but which today must be greatly modernized starting from its product. It is important to underline the significant contribution of the local institutions which have welcomed the interventions to enhance the resorts, in full respect of the environment and local architecture”.
Marco Sangiorgio, general manager of Cdp Investimenti Sgr added: "With this operation involving a historical brand in the sector, Cassa depositi e prestiti's strategy takes shape to give impetus to the growth of Italian operators in the hospitality sector, supporting the development of second Italian chain for number of rooms. The redevelopment of the acquired structures, which we will support in agreement with Valtur, is a further step in the direction of strengthening the tourist offer of our country".
