029 Group SE: Portfolio company Limestone Capital acquires luxurious hotel resort in Sardinia EQS-News: 029 Group SE / Schlagwort(e): Sonstiges / Sonstiges 029 Group SE: Portfolio company Limestone Capital acquires luxurious hotel resort in Sardinia 06.03.2024 / 09:00 CET / CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.
06.03.2024 - 09:00:26EQS-News: 029 Group SE: Portfolio company Limestone Capital acquires luxurious hotel resort in Sardinia (deutsch)
029 Group SE: Portfolio company Limestone Capital acquires luxurious hotel resort in Sardinia
EQS-News: 029 Group SE / Schlagwort(e): Sonstiges/Sonstiges
029 Group SE: Portfolio company Limestone Capital acquires luxurious hotel
resort in Sardinia
06.03.2024 / 09:00 CET/CEST
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.
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Berlin, 5th March 2024. 029 Group SE (ISIN: DE000A2LQ2D0), a global
hospitality and lifestyle platform, announces that its portfolio company
Limestone Capital AG, a leading alternative asset manager with a focus on
hospitality and travel, has bolstered its Italian presence with the
acquisition of a luxurious resort hotel in Costa Smeralda, Sardinia. The
acquisition marks a significant addition to the growing portfolio of four
hotels in Italy.
This strategic acquisition reflects Limestone's commitment to value creation
through the repositioning of the property as an Aethos hotel, aiming to
elevate it to a modern 5-star standard and enhance operational performance
to drive profitability.
The luxurious five-star resort is set to open in May 2024 under the Aethos
brand offering guests a secluded oasis in the heart of the Mediterranean.
The hotel will have a total of 63 rooms and suites, and the resort's
architecture seamlessly blends culture and nature, with amenities like
freshwater pools and a gym. Culinary experiences from ZAÏA Sardinia will
feature a fusion of Mediterranean and Middle Eastern flavors. Wellness
offerings will include holistic treatments, while curated oceanic adventures
allow guests to connect with nature.
The interior design will be executed by Barcelona-based Astet Studio, aiming
to maintain the essence of the authentic architecture of the Costa Smeralda
and complement its interiors with a refined and fresh design focused
aesthetic.
Benjamin Habbel, CEO of Limestone Capital, expresses his enthusiasm for this
acquisition, stating, "This acquisition represents a great milestone for
Limestone Capital by expanding our presence in Italy and adding a luxurious
asset in a globally renowned resort destination to our European portfolio.
We are deeply committed to the growing hospitality sector in Europe and
actively exploring numerous avenues for value-add acquisition and growth."
Limestone Capital Co-founder, Jeff Coe adds, "This transaction reconfirms
Limestone Capital's conviction in the long-term prospects for the European
leisure market and our belief that there is also significant pent-up demand
for leisure travel. As we progress with our strategic growth plan, bolstered
by existing assets across France, Spain, Italy, and Portugal, renowned for
their top-tier hospitality, acquiring this hotel underscores our dedication
to the European hotel sector".
Limestone Capital's strategic growth aligns seamlessly with its mission to
provide unparalleled hospitality experiences to discerning travelers who
seek excellence. The acquisition of the Sardinia hotel marks a significant
milestone in bringing this vision to fruition.
About Limestone Capital AG
Limestone Capital is a vertically integrated Swiss-based private equity firm
that delivers value through transformation in the travel & leisure industry.
Limestone's core focus is on value-add, special situations, and distressed
opportunities, where they source, develop, and operate unique properties and
operating companies often requiring significant repositioning, management
change, and quality design. Most investments follow a branded platform
strategy where value-add real estate is transformed by scalable,
technology-enabled operating brands and seasoned management teams delivering
double digit returns for shareholders and investors. Its platforms,
including Aethos Hotels, Emerald Stay, and others operating over EUR1bn in
real estate assets and have been featured globally in Architectural Digest,
Bloomberg, Condé Nast Traveler, Forbes, Vanity Fair, Vogue, and amongst many
others.
Further information: https://www.limestone-capital.com/ &
https://www.aethos.com/
About 029 Group SE
029 Group SE believes that the next generation of consumer brands will be
built on connection, experiences, and community. In a post-pandemic world,
new patterns of work, life and leisure are emerging and accelerating. These
trends create opportunities in hospitality and lifestyle for
innovation-driven entrepreneurship with a strong community focus. 029 Group
backs the most audacious entrepreneurs with a hands-on investment approach,
focusing on areas where they can add significant value through their
platform, global network and company building expertise. 029 Group is based
in Berlin, Germany.
Further information: https://www.029-group.com/
029 Group SE
Neue Schönhauserstr. 3-5
10719 Berlin
E-Mail: ir@029-group.com
https://www.029-group.com/
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06.03.2024 CET/CEST Veröffentlichung einer Corporate News/Finanznachricht,
übermittelt durch EQS News - ein Service der EQS Group AG.
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.
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Sprache: Deutsch
Unternehmen: 029 Group SE
Neue Schönhauserstraße 3-5
10178 Berlin
Deutschland
E-Mail: ir@029-group.com
Internet: www.029-group.com
ISIN: DE000A2LQ2D0
WKN: A2LQ2D
Börsen: Regulierter Markt in Düsseldorf, München
EQS News ID: 1852131
Ende der Mitteilung EQS News-Service
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1852131 06.03.2024 CET/CEST
