Qatar Holding, a sovereign wealth fund, has become the new owner of four hotels in Sardinia. The seller of the properties is Colony Capital. No sum of the deal is exposed to public.
All the hotels are located on the Costa Smeralda Island (Italy). These are Hotel Cala di Volpe, Cervo Hotel, Pitrizza Hotel, and Hotel Romazzino. The total number of guestrooms of all accommodations is 372. Even though the owner has been changed, the properties will work in their usual rhythm and will be managed by the same companies – Starwood Hotels, Connecticut, and Stamford.
The buyer’s spokesman has already expressed his satisfaction with the deal. They plan to support the on-going development of these luxury properties and hope Costa Smeralda will only strengthen its positions as a popular leisure rest destination.
Besides the hotels the Qatar company got the ownership over Pereve Golf Club, Porto Cervo Marina (a host to the local yacht club), and Porto Cervo Shipyard. Qatar Holding also has 51% interest in a large plot of undeveloped land of 2,290 hectares.