A portfolio of prestigious assets in Venice Lido and Asolo have been sold for over €150 million to Est Capital. 
 
Starwood Hotels & Resorts Worldwide Inc., has entered into an agreement to sell the Westin Excelsior and the Des Bains in Venice Lido and the Villa Cipriani in Asolo together with certain ancillary assets to Est Capital.  The acquisition price for these prestigious properties is in excess of €150 million.  Jones Lang LaSalle Hotels advised the seller.

Roberto Galano, Head of Jones Lang LaSalle Hotels, Italy said: "This deal underpins the strength of Venice as an attractive hotel market:  The hotels are amongst the most prestigious hotels in Venice and we are not surprised it attracted strong interest from a wide variety of investors both national and international."

The Portfolio – owned and managed by Starwood Hotels & Resorts - comprises three historic hotels, of which two on the Lido of Venice and one in Asolo, Treviso, all in Veneto Region, North East of Italy.

The Westin Excelsior and Hotel des Bains on the Lido represent iconic properties for their high visibility associated with worldwide events such as the Venice Film Festival and famous movies.  Villa Cipriani has been selected several times by CondeNast Traveller amongst the 20 best hotels in Italy. 

Additionally, 14 ancillary assets, including the famous beach on the Lido are included in the portfolio.