Italiano

Hospitality

Hotels: sale, operation, acquisition.

Hospitality is the main focus of the practice. We work for hotel owners and for those looking to buy or operate a hotel, from the first assessment to signing.

Tell us about your hotelShare your investment criteria
Inner courtyard of an urban palazzo, with a pillared portico and a garden at its centre

What we do

01

Sale and value creation

For owners considering selling a hotel, in whole or in part.

  • A reading of trading, property and required investment, with assumptions stated
  • The information the market will need, prepared in advance
  • Investor selection and a managed process with them
02

Operators

For owners looking for someone to run the hotel, or for a different operator.

  • Identifying operators and management companies suited to the hotel
  • Comparing a business lease (affitto d’azienda), a property lease, a management agreement and a franchise
03

Acquisitions

For investors with defined investment criteria.

  • Searching for hotels that fit, including where no sale process is running
  • Testing assumptions with owners and operators
  • Gathering documentation for due diligence
04

Process support

For either side, through the negotiation.

  • Coordinating requests, site visits and deadlines
  • A commercial reading of NDAs, letters of intent and mandates; legal conclusions remain with qualified professionals
Stone terrace of a historic palazzo above the coast, with palms and planted urns in warm light

Family-owned hotels and succession

Many Italian hotels belong to families. When a generational handover approaches, or the business still depends on the owner, the routes are best compared on the numbers and the hotel prepared before it goes to market.

  • Agreements between partners and generations, settled before going to market
  • Reported and sustainable results, reconciled
  • Informal arrangements, put in writing
Tell us about your hotel

The options for an owner

  1. 01

    Sale

    Selling the hotel, in whole or in part, to selected investors.

    Read the guide: Selling a hotel in Italy: stages, documents, timing
  2. 02

    Operator search

    Handing over operation under a business lease, a property lease or a management agreement.

    Read the guide: Business lease, property lease or management agreement in Italy
  3. 03

    Value creation

    Repositioning the hotel, separating the investment that adds value.

  4. 04

    Succession

    Comparing continuity, an appointed operator, a partner or a sale.

    Read the guide: Succession in a family-owned hotel: the options

Markets

Markets of interest.

In each market we work on hotel sales and value creation, acquisitions for investors, and operator searches.

Art cities and urban markets

  • Rome
  • Milan
  • Venice
  • Florence

Leisure destinations

  • Lake Como
  • Tuscany
  • Puglia
  • Sicily
  • Sardinia

We work throughout Italy, from the art cities to leisure destinations.

Scope

Type
Urban hotels, boutique hotels and historic residences, resorts and leisure destinations, buildings for conversion or repositioning.
Structure
Vacant possession or with an operator in place, business lease (affitto d’azienda), property lease, management agreement, separation of property and operating business.
Size
For sales and acquisitions, transactions from around €10m. The threshold applies to transactions: operator searches, succession and options reviews are considered case by case, under a dedicated engagement.

These are the criteria we apply to engagements, not a list of available hotels. Property identities and documentation are shared in line with the arrangements agreed with owners.

Frequently asked questions

What would you like to clarify before starting?

How is a hotel’s price determined?
Start with trading performance, the property and the investment it needs. Compare relevant transactions and supportable scenarios, taking contracts and sale terms into account. The asking price, an assessed value and an offer a buyer will commit to are different figures.
How long does a hotel sale take?
There is no single timetable. Complete records, agreement among owners and clear terms help the process move forward. Due diligence, financing and approvals can affect timing. Following the initial review, we set out the stages and dependencies without promising a closing date.
Which documents do you need to start?
A first review needs only a description of the hotel, the room count, the accounts and trading data available, and an ownership overview. Title, planning and cadastral records, operating and lease agreements and capital expenditure information follow in later stages, depending on the transaction structure.

Further reading

Let’s start here

Where would you like to start?

Choose a path and the form asks only for what is useful. No confidential documents at first contact.

Tell us about your hotelShare your investment criteria

Or write directly to michele.imbimbo@mc21.capital