Boscalt Hospitality Acquire 100-Key Hotel Majestic Rome
Main Photo: The Hotel Majestic Rome terrace dining, a Grande-Dame property
Date: June 2022
Name: Hotel Majestic
Location: Via Vittorio Veneto, Rome, Italy
Number of Keys: 100…to refurb as 83 rooms and suites
Seller: We believe the hotel is/was owned by EGA Esercizio Grandi Alberghi Srl, founded in 1921.
Buyer: Boscalt Hospitality
Edmond de Rothschild‘s Boscalt Hospitality has bought the Hotel Majestic in Rome for an undisclosed amount.
The 100-room property is located on the Via Vittorio Veneto and has 5 floors above ground 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 building is expected to undergo 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.
The Boscalt team will continue to focus on acquiring new properties in key European cities.
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, said: “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 financemanagement of Boscalt is unique, and we look forward to the continuous growth of its portfolio.”
The hotel has a stack of history, inaugurated in 1889, it is the first hotel that was built on the via Veneto. Previous to the construction of the street, this neighbourhood was known as Villa Ludovisi.
The building where the hotel was to be created is part of the first belvedere of the new street cut through the Cappuccini friars’ garden. The view on Piazza Barberini was achieved by carving the height overlooked by the conventual church of Saint Isidoro and by the Villa Boncompagni. The designer Gaetano Koch, known as the prince of architects of those times, was forced to give the building that unique “piano-like” layout which characterises it’s plan.
The hotel’s fame and fortune reached its peak during the Twenties, when high-society members used to choose this hotel for their stay in Rome. At The Majestic Roma, royals, prince & princess and show biz stars could find luxurious details together with the comforts of progress in addition to the thrill of being in a town of ancient civilization.
Worth noting that due to language restrictions during the Fascist regime, where it was forbidden to use foreign language terminologies, the Majestic Hotel was called Albergo Maestoso.
Price: Undisclosed …Was on the market for €100m in 2021…we suspect Boscalt paid a fair amount less
Price per Key: TBA
THPT Comment: When we saw this hotel was offered for sale back, in 2021, we felt that location was Fab and the hotel has all the quality of a Grande-Dame hotel…just going to be a major refurb, which we see Boscalt are planning with a decrease in room-count….Well done
First Seen: Hospitality Insights
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