Edmond de Rothschild‘s Boscalt Hospitality has bought the Hotel Majestic in Rome for an undisclosed amount.
The 100-room property is located on the Via Vittorio Veneto and has 5 floors above ground for a total gross surface area of above 10’000 sqm including a future rooftop, bar, restaurant, gym, 4 meeting rooms and 2 retail areas.
The building is expected to undergo renovations and be repositioned into an ultra-luxury lifestyle hotel, in line with Boscalt’s value creation strategy. After the renovation the hotel is anticipated to feature 83 larger rooms and suites, as well as additional food and beverage facilities, while maintaining some of the original architectural features and iconic elegance.
The Boscalt team will continue to focus on acquiring new properties in key European cities.
What They Said
Liza Masías, co-founder of Boscalt said: “This acquisition is in line with Boscalt’s strategy of purchasing and upgrading properties with high potential, building a strong portfolio of upscale to luxury hotels, located in major European cities. The Boscalt team has identified a value-add strategy for this asset and is currently working with a renowned international operator to reposition it into the ultra-luxury segment in Rome, one of the most visited tourist destinations in the world, famous for its unique archaeological sites, art treasures and historical buildings. We are very proud of this acquisition and the work of the team and look forward to seeing such a historical prime property reborn.”
Johnny El Hachem, CEO of Edmond de Rothschild Private Equity, said: "We are delighted with the second investment of Boscalt, in the heart of Rome. This strategic combination of international private equity, luxury hospitality, real estate, and financemanagement of Boscalt is unique, and we look forward to the continuous growth of its portfolio.”