Hotel news and transactions from around the European region: Barletta Group acquires Hotel Villa Diodoro in Taormina, Italy, Paval Holding acquires the Waldhaus Flims Resort and more...

Barletta Group acquires Hotel Villa Diodoro in Taormina, Italy

Italian real estate development company Barletta Group has entered an agreement to acquire the four-star, 102-room Hotel Villa Diodoro in Taormina, Italy, from the Italian Bambara-De Luca family. The total price is approximately €85 million (€833,000 per room), which reportedly includes both the purchase price and future renovation costs. The famous hilltop town of Taormina is located on Sicily's eastern coast, overlooking the Ionian Sea and Mount Etna. As part of the Gais Hotel Group, the Bambara-De Luca family, hoteliers for four generations, will continue to manage the hotel operations until the end of January 2025, after which the Barletta Group will commence the renovation process. The Barletta Group plans to reposition the property as a luxurious five-star hotel, reducing the total room count by 30% to 72 keys.
 
Paval Holding acquires the Waldhaus Flims Resort in Switzerland from Z Capital 

Romanian investment vehicle Paval Holding, in partnership with the Lithuanian group Apex Alliance, have completed the acquisition of the five-star, 150-room Waldhaus Flims Wellness Resort, Autograph Collection, Switzerland, from the American private equity firm Z Capital for an undisclosed price. Flims-Laax is one of Switzerland’s leading ski resorts, located in the canton of Grison in the east of the country, about a 1.5-hour drive south-west of Zurich. The Waldhaus is currently closed but scheduled to reopen in the winter season 2025/26 after restoration, and will be operated via Apex Alliance’s operating arm, Apex Alliance Hotel Management. This is the second acquisition by Paval Holding (which is owned by the brothers Dragoş Pavăl and Adrian Pavăl) and Apex Alliance in partnership, following their purchase of the 167-room, four-star Grand Hotel Gardone in Italy in 2023, as reported in this newsletter.
 
Fontas Gruppe acquires Adagio Access Freiburg in Germany from Union Investment

Berlin-based Propetti Investment Holding, acting on behalf of the family office Fontas Gruppe, has acquired the 153-room Aparthotel Adagio Access in Freiburg, Germany, from Frankfurt-based Union Investment. Located on the edge of Germany’s Black Forest, Freiburg is the fourth largest city in the south-western state of Baden-Württemberg. The seller, representing the investment arm of DZ Bank, initially acquired the limited-service project in 2018 as part of a four-property development portfolio in a forward sale from German developer Benchmark. The hotel was delivered in 2021 and is currently operated under a long-term lease by HR Group, with a franchise agreement from Accor under the Adagio Access brand. Spanning seven storeys over an area of some 5,500 square metres, the hotel also features 31 underground car parking spaces. The property was transacted as part of a share deal.

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