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4-Star Hotel is up for auction in Città Studi in Milan

Hotel Dieci is up for auction in Milan, in the Città Studi district, a 4-star hotel with 29 keys. With an auction base of EUR 3.0 million (approx. 100 thousand per key) and a minimum bid of EUR 2,25 million (approx. 75 thousand per key). The building is spread over 4 levels and covers a total of 850 square meters and, in addition to the 29 keys, has a conference room, a bar and a restaurant. The hotel, rented by a third party operator, has seen a gradual growth in its turnover in recent years (CAGR + 2.3% in the 2012-2019 period). The turnover, downsized by -79% in 2020, recorded a slight recovery in performance in 2021. The date of the asset’s ban is set for 09/22/2022.

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