This week we closed our 4th hotel transaction in 18 months. We acquired 'Locanda del Prete' in Umbria (Italy) in an off-market transaction. This deal is a prime example of Limestone's sweet spot of an underperforming/distressed hotel asset in need of tech-powered distribution and a fresh, differentiated hospitality concept. And of course, it's absolutely authentic & unique: A historic village, turned with much care into a luxury country retreat.
Now, we are deploying our technology, design & operations teams to deliver value, fast for our LPs:
- Invest highly focused CapEx for a light refurb, by our in-house interior architecture team
- Launch property on our proprietary technology architecture, incl Cloud PMS, Rev. Mgmt, CRM
- Utilise our global distribution network, incl. our partner Group Barriere to jump-start sales
- Bring onboard our experienced hospitality leadership team to train staff, and build out team
- Re-launch restaurant with a fresh concept, developed by in-house F&B team
- Offer wide range of experiences, with strong focus on authentic learning activities & well being
- among many other...
We will re-open and turn around the hotel in the next 90 days, and expect to create significant value for our investors in a very short period of time, as well as creating the foundation for a sustainably profitable hotel operation.
As always, thank you to our amazing group of partners, as well as the team on the ground that made this happen.
Benjamin Habbel, Founder & CEO Limestone Capital
PS: I hope to see you soon enjoying a drink with us on the terrific terrace at Locanda del Prete.
