Bluserena, founded in 1985 by Carlo Maresca, manages a portfolio of 13 hotels (eight of which it owns) in the main Italian tourist destinations including Sardinia, Sicily, Apulia, Abruzzo, Piedmont and Calabria. The Bluserean portfolio of over 4,200 rooms in eleven 4-star hotels and two 5-star resorts, has now been acquired by Azora which also holds entertainment services including beaches, swimming pools, animation and sports facilities, and clubs for children and young people.
“Covid has prompted a significant demand for travel”
"This transaction confirms Azora's belief that Covid has prompted a significant demand for travel, and that there will be a strong market recovery as vaccination programmes make headway in Europe,” commented Concha Osácar, Azora’s co-founder. By acquiring the Italian operator, Osácar continued, the Group confirms its commitment to the European hotel industry, and in particular to Italy where growing numbers of international tourists are choosing destinations such as Apulia, Sicily and Sardinia.
€30 million invested in renovations
The takeover includes both the hotels and the management company, which will continue to be based in Pescara. The objective is to enhance the Bluserena brand with a €30 million investment in renovations, acquire new hotels in Italy, and new lease and management contracts. “Azora seemed to us the most suitable partner to continue the history of Bluserena and boost its growth – said Bluserena’s CEO Silvio Maresca – we can now start a new phase of a growth on the Italian market.”
The Azora fund counts 31 hotels in Europe
In September Azora closed its latest pan-European hotel investment fund at €815 million plus co-investment capital. With the acquisition of Bluserena, and now holding a portfolio of 31 hotels in Europe, it has committed 56% of its investment capacity.
