Cattolica strengthens its presence in the hotel sector: new real estate investment in Bologna
Following its recent acquisitions in Milan and Rome, Cattolica is growing its hotel portfolio by acquiring a major Hotel Business in the centre of Bologna
Verona, 27 December 2018
Cattolica Immobiliare has today completed the acquisition of a property for hotel use, worth €32,890,000: the Royal Carlton Hotel in Bologna (4 stars, over 200 rooms). The transaction, made via the Euripide Real Estate Fund, which is 100% owned by the Cattolica Group and managed by Finint Investments SGR, marks the insurance company’s entry into the real estate market in the capital of Emilia and aims to consolidate the Group's presence in the hospitality sector with the third acquisition in three years, following that of the Nhow Hotel in Milan in 2016 and the NH Leonardo da Vinci Hotel in Rome in 2017 (both managed by the international chain NH Hotels and owned by the aforementioned Fund).
In accordance with the guidelines of the 2018-2020 Business Plan, Cattolica Immobiliare has opted for the investment opportunity to further improve the portfolio’s geographical diversification, focusing on a city that has achieved excellent performance in terms of a growth in presence in recent years, with a strong overseas component, partly thanks to an exhibition centre and an internationally attractive industrial sector. The hotel, rented out by the listed group Monrif, is located between the Historic Centre and the Railway Station and has a Congress Centre and parking garage with over 200 parking spaces that make the facility a benchmark for the city of Bologna.