Azora, through Azora European Hotel & Leisure, F.C.R.(AEHL), has completed the acquisition of Bluserena SPA, the second leisure hotel company, from the Maresca family.
Founded in 1985 by Carlo Maresca SPA, Bluserena manages a portfolio of 13 hotels, 8 of which are owned, in major Italian tourist destinations including Sardinia, Sicily, Puglia, Abruzzo, Piedmont, and Calabria.
The portfolio acquired by Azora, with over 4,200 rooms, consists of 11 4-star hotels and 2 5-star resorts with full board and all-inclusive services, stunning beaches, and a wide range of entertainment services including entertainment programs, sports, pools, sports facilities, and clubs for children and teenagers.
The operation includes both the hotels and the management company, which will continue to be based in Pescara (Abruzzo). The aim of the operation is to strengthen the Bluserena brand with a €30 million investment program to renovate hotels and improve customer satisfaction. The company’s growth in the Italian market will be supported through new hotel acquisitions and new lease and management contracts to establish itself as a leading player in the country.
Concha Osácar, co-founder of Azora, stated: “This operation reaffirms Azora’s belief that there is significant demand for travel due to COVID and that there will be a strong market recovery as vaccination progresses in Europe. The acquisition of this large Italian operator is part of our commitment to the European hotel market, particularly in Italy, both because of the strength of the domestic tourism market and the growing presence of international tourists in destinations like Puglia, Sicily, or Sardinia.”
Silvio Maresca, CEO of Bluserena, stated: “We believe that Bluserena is ready to make a new leap in quality with a European fund like Azora. Azora seemed to us the most suitable partner to continue Bluserena’s story and enhance its growth. It saw in Bluserena a leading hotel management platform in Italy, and as such, a tool for future development. Bluserena is now entering a growth phase in the Italian market that will create opportunities for company staff and the city, keeping the headquarters in Pescara.”
Last September, Azora closed its latest pan-European hotel investment fund with total commitments of €815 million, plus additional co-investment capital. With the acquisition of Bluserena SPA, it will have committed 56% of its investment capacity.
The Fund invests in European tourism, a segment with long-term growth trends and a clear recovery scenario post-pandemic. The Fund aims to invest in traditional seaside and mountain destinations as well as major European tourist cities.
This operation is the fifth carried out by the Fund since its establishment, after acquiring the initial portfolio (composed of 10 hotel resorts and 4 urban hotels across Europe), the Giverola Resort, a hotel on the Costa Brava, and the purchases of Tivoli Vilamoura, Tivoli Carvoeiro, and Vilalara ThalassaResort in the Algarve region of Portugal. The fund already has a portfolio of 31 hotels across Europe.
CBRE, as Financial Advisor, and Chiomenti, as legal firm, assisted Carlo Maresca SPA while Azora was legally advised by BonelliErede.
Details of the operation.
- Bluserena manages 13 hotels in Italy, with a capacity of over 4,200 rooms, 8 of which are owned, with 3,000 rooms
- The operation includes both the hotels and the management company that will continue to be based in Pescara (Abruzzo)
- The acquisition is the largest deal in the Italian hotel market in 2021, strengthening Azora European Hotel & Leisure F.C.R.’s position in Italy. The fund thus commits over 55% of its total investment capacity
Bluserena, the company of the Carlo Maresca Group founded in 1985, is a leading company in Italy’s holiday hotel market, managing a portfolio of eleven 4-star villages and two 5-star resorts, with over 4,200 rooms. The product offered by Bluserena has always been recognized for its quality and reliability and is appreciated by an increasingly large and loyal customer base. Bluserena embodies innovation and total quality, offering high-level service and meticulous attention to detail. All Bluserena hotels have a score of 4 and 4.5 out of 5 on TripAdvisor and Google, receiving 42 Certificates of Excellence and 11 Travellers’ Choice awards from TripAdvisor.
Pubblicato in Hospitality
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