HIG Capital has rolled up hotel assets to create Ella Hotels & Resorts.
Ella is pitched as a luxury, lifestyle hotel group operating a collection of sustainable “eco-chic” resorts across Southern Europe. Following a phased development and refurbishment plan, Ella’s portfolio will be comprise of 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 in excess of €1 billion.
HIG is aiming to expand across the Mediterranean, focusing on opportunities in Spain, Portugal, and Italy, with a target of reaching 10,000 total rooms in its portfolio.
What they said
Riccardo Dallolio, managing director and head of the HIG Real Estate Funds in Europe, said: “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 Greece’s main peripheral airports allowed for an even stronger recovery in their resorts market. We believe that Ella has the potential of becoming a leader in the Mediterranean resort sector, and we are working on a number of transactions to further grow the platform.”
Stelios Theodosiou, managing director of HIG Real Estate in Europe, said: “The Ella team is uniquely positioned to capture the key emerging trends in the hospitality industry, such as the customization and personalization of the guest experience, digitalization of the operating model, prioritization of health and wellness, as well as the growing importance of sustainability. We are excited about the Ella brand and will continue to invest in the hotel portfolio and the business as we continue to expand the platform.”