H.I.G. Realty establishes €1b resort hotel platform in southern Europe
H.I.G. Capital and several of its affiliates have combined their hotel assets to create Ella Hotels & Resorts.
Ella is a luxury, lifestyle and hotel group operating a collection of sustainable “eco-chic” resorts across southern Europe. Following a phased development and refurbishment plan, Ella’s portfolio will comprise 13 hotels with a total of 4,500 rooms, located in five of Greece’s key tourist destinations. It is projected that Ella's current portfolio will command a value of more than €1 billion ($1.07 billion).
Ella plans to expand further into additional, established Mediterranean holiday destinations, focusing on opportunities in Spain, Portugal and Italy, with a target of reaching 10,000 total rooms in its portfolio.
“We believe the Mediterranean resorts market is one of the most attractive real estate sectors, with the strongest fundamentals and secular trends. In addition to the strong recovery in global travel, the recent upgrade of G