Azora acquires Italy’s second largest resort hotel operator

Azora, the Madrid-based European private equity real estate manager, has completed the acquisition of Bluserena SPA, the second largest resort operator in Italy, from the Maresca family. The acquisition has been completed on behalf of Azora’s latest pan-European hospitality fund, Azora European Hotel & Lodging, F.C.R.

Founded in 1985 by Carlo Maresca SPA, Bluserena manages a portfolio of 13 hotels, eight of which it owns. The hotels are spread across the main Italian tourist coastal destinations including Sardinia, Sicily, Apulia, Abruzzo, Piedmont and Calabria.

The portfolio totals over 4,200 keys and consists of 11 four-category hotels (villaggi) and two five-category resorts with full board and all-inclusive offerings, attractive beaches and a wide range of entertainment amenities, including swimming pools, sports facilities, and clubs for children and youngsters.

Concha Osácar, co-founding partner of Azora, commented: "This transaction reconfirms A