CORFAC News

MILAN, ITALY – February 4, 2015 - Alpitour World Hotels & Resorts, led by the real estate advisor IL PUNTO/CORFAC International, took over the management of the historic Grand Hotel Daniela (now Bravo Daniela), in the village Conca Specchiulla approximately 15 km from Otranto. Totally renovated and refurbished, the hotel has 146 rooms on two floors, a large lobby with shops, conference rooms, two restaurants, two bars and two swimming pools with a pool-side bar. The hotel is set in an amazing green pine forest.

"The operation is fully part of the trend that the Italian tourist real estate needs to follow," says Maurizio Miconi, General Director of IL PUNTO. "Many owners would like to sell, but struggle in presenting the product to investros, also for asking prices that are out of market. To identify a partner for management that is worldwide recognized, as in the case of Alpitour, is the first step to enhance the property and add value. In a second step you can plan the sale," added Miconi.

Globally, the large institutional investors are diversifying their portfolio by leaving more and more segments as offices and commercial, to tack towards the top level of hotel business. In recent months, the Chinese Anbang Insurance bought for nearly $ 2 billion the historic Waldorf Astoria in New York. The Savoy in London is now owned half by the sovereign fund of Qatar and half by the Saudis. Further on the Chinese Sunshine Insurance has just awarded the Sheraton Sydney for $ 380 million.

"These are exceptional investments. The Italian hotel sector is highly fragmented and characterized by many small and old structures" says Maurizio Miconi. In fact, it is estimated that there are 34,000 hotels in our country, many of which emerged in the 1960s, with an average of 25-30 rooms each. "It will be sufficient less, but more modern and higher in quality. Anyhow we must be realistic. Today the owners, especially if families, struggle to plan investments of a certain volume. Therefore, operations such as Alpitour are the only way to get known in the foreign countries in which there
are capitals to invest."

The hotel is already on the booking systems, under the brand Villages Bravo, and reservation dates start in May 2015.

About IL PUNTO Real Estate Advisor srl / CORFAC International
IL PUNTO is an independent expert partner of CORFAC International that is one of the first worldwide groups specialized in integrated consultancy with over 56 offices and 2,500 employees globally. In Italy, it's the independent expert of the main Funds Management Companies, such as Investire Immobiliare. Contact IL PUNTO/CORFAC International's Lucrezia Galbiati at +39 02 45494253 or +39 344 2430067.