Al via una joint venture Aeroviaggi

The Pollina resort

A joint venture for the co-ownership management of six resorts of the Mangia’s collection in Sicily and Sardinia. 85 million euros of investments are planned and the repositioning of the brand in the premium segment of the market. The hotel brand of the Aeroviaggi group has signed a strategic partnership agreement with Blackstone, through the subsidiary Hotel Investment Partners (Hip), the largest resort owner in Southern Europe. The agreement provides for the creation of a newco in a joint venture, in which the Mangia family maintains the management of all the hotels and a role of reference shareholder. The object of the new company is six of the 13 resorts of the Mangia’s collection: the Cala Blu and the Marmorata of Santa Teresa Gallura and theAgrustos of Budoni, in Sardinia, as well as the Brucoli near Syracuse, the Costanza a Selinunte and the Pollina in Cefalù, Sicily, for a total of over 1,900 rooms.

The joint venture will allow investments of approximately 85 million euros in the coming years which will lead to a further enhancement of the resorts and their repositioning in the premium segment of the market. “We are proud to announce that Blackstone, one of the most important funds in the world, has selected us for a partnership that brings Hip to enter the Italian hospitality market for the first time – underlines the president of Aeroviaggi, Marcello Mangia -. For us it is an unparalleled opportunity to enhance and give further impetus to our development projects “. As part of the operation, the Aeroviaggi group was supported by Lazard as financial advisor (Giacomo Liberti and Sergio Martinelli) and by the studio Gianni & Origoni (Mariasole Conticelli, Massimiliano Macaione, Fabio Chiarenza and Nicola Zito), as legal advisor.