Orion Capital sells Italian hotels for €245m
Orion Capital has sold Six Senses in Rome to Gruppo Statuto for €245 million ($260 million).
Statuto owns many landmark hotels in Italy, including Four Seasons Hotel Milan, Four Seasons Taormina, Mandarin Oriental Milan and W Milan, as well as some of the most coveted luxury retail estate including Via Montenapoleone.
“Rome is a market that everyone fears is becoming oversupplied in the luxury segment,” said Leonardo Stassi, head of hospitality at Coldwell Banker Commercial Italy. “But luxury hotels have the ability to grow in value and mirror what happens in terms of inflationary growth. This is an example of how you can create value through luxury branding, and it creates a new perspective as to what value really unique and special hotels can have to a certain type of buyer.”