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Lefay Resort & Spa Lago di Garda acquired by Cdp with a sale & lease-back operation

Tuesday, 14 December 2021 14:45

The news was leaked last June but now, according to confidential sources, it is official that the Lefay Resort & Spa Lago di Garda has been sold by Lefay to Cassa Depositi e Prestiti. The transaction is said to be a sale & lease-back operation, with the operator maintaining the management of the complex. The contract is thought to also include a repurchase option after seven years, while the value of the sale of the Lefay Resort & Spa Lago di Garda should be around €59 million, corresponding to some €634,000 per room

Backing for Lefay’s new Montalcino resort in Tuscany 

The transaction is part of Cdp's strategy to back the expansion of Italy's most solid hotel groups. The entry of the new capital will also allow Lefay to contribute to the financing of the restyling of the Lefay Resort & Spa Lago di Garda property, part of which was already carried out at the start of this year, while it is due to be completed in the first quarter of 2022. It’s also said that the new financial resources will go to backing the development of the group's resort in Montalcino, Tuscany which is also scheduled to open next year. Last summer Lefay signed its first management agreement for a complex in Crans-Montana in Switzerland.

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