Press release, Jun 2022
Boscalt Hospitality, an Edmond de Rothschild Private Equity strategy, announced the acquisition of the Hotel Majestic in Rome. The historical property is located on the famous Via Vittorio Veneto, within walking distance to popular attractions such as the Spanish steps, Villa Borghese gardens, and the Fontana Di Trevi. The asset is well surrounded by an elegant and calm area and is very well connected (close to the main railway station and metro).
The immediate area of the hotel hosts a rich selection of prestigious shops, restaurants, and an important business district of the capital.
Designed by architect Gaetano Koch in 1889, this property has hosted royals, historical figures, and celebrities such as Luciano Pavarotti, Liza Minnelli, Frank Sinatra, Whitney Houston, Madonna, Keith Richards, Bob Dylan, Bruce Springsteen and many more. In 1960, it was featured in the famous movie “La Dolce Vita”, directed by Federico Fellini. The Former “Bar Ninfa”, the historical restaurant of Hotel Majestic, was one of the greatest symbols of this movie.
The 100-room property has 5 floors above ground (most of them boasting terraces) for a total gross surface area of above 10’000 sqm including a future rooftop, bar, restaurant, gym, 4 meeting rooms and 2 retail areas. The historical building is expected to undergo major renovations and be repositioned into an ultra-luxury lifestyle hotel, in line with Boscalt’s value creation strategy. After the renovation the hotel is anticipated to feature 83 larger rooms and suites, as well as additional food and beverage facilities, while maintaining some of the original
architectural features and iconic elegance.
Liza Masías, Co-founder of Boscalt said: “This acquisition is in line with Boscalt’s strategy of purchasing and upgrading properties with high potential, building a strong portfolio of upscale to luxury hotels, located in major European cities. The Boscalt team has identified a value-add strategy for this asset and is currently working with a renowned international operator to reposition it into the ultra-luxury segment in Rome, one of the most visited tourist destinations in the world, famous for its unique archaeological sites, art treasures and historical buildings. We are very proud of this acquisition and the work of the team and look forward to seeing such a historical prime property reborn.”
Johnny El Hachem, CEO of Edmond de Rothschild Private Equity added: “We are delighted with the second investment of Boscalt, in the heart of Rome. This strategic combination of international private equity, luxury hospitality, real estate, and finance management of Boscalt is unique, and we look forward to the continuous
growth of its portfolio.”
The Boscalt team will continue to focus on acquiring new properties in key European cities.
ABOUT BOSCALT HOSPITALITY FUND SICAV-RAIF
BOSCALT HOSPITALITY FUND SICAV-RAIF (the « Fund ») is a Luxembourg société d’investissement à capital variable – fonds d’investissement alternatif réservé (SICAV-RAIF), investing in hotels across major European cities. It creates substantial value by combining hospitality, real estate, corporate finance, and sustainability. The Fund focus is the upper end of the hotel market, upscale to luxury on prime locations of key European cities – requiring a high level of hospitality expertise and resources and delivering long-term value. The Fund presents specific risks including market risk, default risk, risks of capital loss, liquidity risks, and relevance risks of an investment, credit risk, operational risk, currency and exchange rate risks, risks on the disposal of certain investments, as well as the absence of guarantee of return on investment. The Fund is open to commercialization for professional investors within the meaning of the Luxembourg law on alternative investment fund managers on 23 July 2016, as amended from time to time.
The Fund’s alternative investment fund manager is Edmond de Rothschild Private Equity Luxembourg S.A., a Luxembourg public limited liability company (société anonyme) having its registered office at 4 rue Robert Stumper, L-2557 Luxembourg, Grand Duchy du Luxembourg, registered with the Luxembourg Trade and Companies Register under number B130070.
The mention of the investment in the hotel Majestic in Rome illustrates the Boscalt’s investment strategy and shall not, in any way, be considered as an offer, an inducement, or a solicitation to buy or sell the shares of this asset.
ABOUT THE EDMOND DE ROTHSCHILD PRIVATE EQUITY
Edmond de Rothschild Private Equity is an independent firm, part of Edmond de Rothschild Asset Management, with over CHF3.5 billion in assets under management. With an entrepreneurial approach to finance and backed by strong convictions, Edmond de Rothschild Private Equity builds and develops differentiating investment strategies that provide a sustainable response to environmental and social challenges Founded in 1953, the Group had nearly CHF 178 billion in assets under management at the end of December 2021, 2,500 employees, and 29 locations worldwide.