Over the past few days, H.I.G. Realty Partners (the real estate investment division of the US-based investment fund H.I.G. Capital), committed to a 2.5M investment project on the inventory expansion of Portopiccolo rental apartments, which will increase to 90 accommodations (from the current 20 available). Besides the quantitative increase, H.I.G. Realty Partners will also invest in an FF&Es overall enhancement and in the enrichment of its family-oriented services.
The units managed in Portopiccolo, considering both the Falisia Resort rooms and the brand-new apartments, will add up to 148. Falisia Resort is a Marriott franchisee (Luxury Collection), which has been experiencing a sustained rise in revenue since 2016, recording a +16% CAGR for the 2016-2019 period.
For the record, on January 2020, H.I.G. acquired the whole real estate complex from Rizzani The Eccher Group, for an estimated value of EUR 150 M.
Falisia Resort performance, Portopiccolo (TS)