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Lefay Resort & Spa Lago di Garda has been acquired by CDP 

By Wednesday, 05 October 2022 09:38

The Lefay Resort & Spa Lago di Garda has been acquired by CDP Group for €59 million under a sale and lease back operation. 

The Garda property is to get a facelift

The operation, conducted through the Turismo 2 Fund, was completed last November, but the official confirmation only came a few days ago, with the publication of the supplementary note to the financial statements of the company based in San Felice del Benaco: "The sale price - reads the document reported in the Giornale di Brescia newspaper - includes a condition outlining the execution of certain structural works on the Garda property, as well as the purchase of new furniture."

A new resort in Montalcino in Tuscany

At the same time as the sale, a "leaseback contract for the Gargnano real estate complex was signed for a duration of 30 years (possibly extendable for a further 10 years), reserving the option to redeem the complex after seven years from the effective date of the lease." The capital will enable the Lefay Group to accelerate the development of new projects, including a new resort in Montalcino which the company bought in December for €16.9 million.

Looking to expand abroad

However, the group's aims are not limited to central Italy. In fact president Domenico Alcide Leali also confirmed expansion abroad, through the development of a fee-based model with a management or rental contract. The 2021 budget also shows a recovery in revenues, which went from €25.8 million in 2020 to €33.5 million last year.

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