Cbre, the company that assisted the previous owner in the transaction, has announced that Four Points by Sheraton Milan Center has been sold to a leading American private equity fund. The property is a standalone property with twelve floors above ground, a total of 239 rooms, seven meeting rooms, a restaurant, a bar and a fitness center.
A franchise with the Marriott Group
The top floor of the Four Points by Sheraton Milan Center has views of the Porta Nuova skyline, and the hotel is operated through a franchise agreement with the Marriott Group which owns the Four Points brand. "This operation shows how the hotel investment market is recovering and proves that Italy is a refrence market at a European level,” underlines Francesco Calia, Head of Hotels at Cbre Italy.
“It's the perfect time to sell"
Investors are more selective and transactions are focussing on quality properties, developments and value-added opportunities, added Calia. “In these circumstances sale prices can exceed pre-Covid values. It's the perfect time to sell." At this time, no further details have been released about the transaction.
