J44 Hotel Jesolo has entered a sale and lease back agreement with CDP Real Asset, marking a significant transaction in Italy’s luxury hospitality market. Through the deal, the Rizzante family sold the five-star property while retaining long-term operational control. Moreover, the agreement includes a 20-year lease contract with an option for renewal for another two decades.

Cherry Bank supported the operation as financial advisor and assisted throughout the entire process. In particular, the advisor worked on the deal structure, asset evaluation, and development planning. Furthermore, the transaction forms part of the National Tourism Fund managed by CDP Real Asset in cooperation with Italy’s Ministry of Tourism.

Rizz-Immobiliare originally opened J44 Hotel Jesolo at the end of 2020 after investing more than €20 million. The development included both the acquisition of the former Hotel Tahiti site and the construction of the new luxury property. Architects Massimo Magalli and Michela Morsilli designed the hotel, while landscape architect Flavia Pastò curated the vertical greenery concept.

J44 Hotel Jesolo features 75 rooms across six floors, together with a restaurant, spa, rooftop heated pool, and the Tacco 11 bar. Roberto Pellegrini manages the venue, adding another recognizable hospitality element to the project.

At the same time, Jesolo’s luxury hotel market continues to grow strongly. Average daily rates increased from €282 in 2019 to €359 in 2024. Occupancy levels remained stable overall, although they recorded a slight decline. However, RevPAR almost doubled during the same period, rising from €127 to €232. Therefore, the transaction reflects growing investor confidence in high-end hospitality assets along the Venetian coast.