Lhm, according to the Italia daily Il Sole 24 Ore has acquired a new hotel in Rome.
The property will get a makeover
In the downtown Rome area of the Italian parliament, the new entry will join Palazzo Velabro, a mixed-use hotel under the Design Hotels brand that opened in March last year. The new property will have 25 rooms, a fitness area, common areas to encourage people to meet and a retail outlet on the ground floor. The asset belongs to a Roman family and will undergo a makeover, work on which should start soon and be completed possibly by the end of 2025.
Ltm has plans to expand
The Lhm group, which is now looking for further opportunities in Bologna, Naples and Venice, aims to valorize a real estate assets that are often not in the sights of institutional investors, explained the company's founder and CEO, Cristina Paini. The company, which currently manages a total of three hotels in Rome and Milan, is therefore looking mainly at medium-small 33 to 35-room properties, centrally located and possibly adaptable to a mixed-use solution of rooms and apartments. This formula would currently guarantee the company gross operating margins net of rents (ebidtar) of over 35%, with the aim of hitting 40% in the future.
