Alternative investment business KSL Capital Partners has expanded its European footprint with the acquisition of the JW Marriott Venice Resort & Spa from Aareal Bank Group, a specialist property bank.
This transaction marks the first equity investment completed by KSL's European Capital Solutions platform, which targets travel and leisure assets with a focus on “high-quality” urban and resort developments in Europe.
Located on its private island, Isola delle Rose, the JW Marriott Venice is a five-star luxury hotel that opened in 2015.
Designed by architect Matteo Thun, the resort features 266 modern rooms and suites, including the Uliveto Retreat.
The property features six restaurants, conference spaces, and claims to have the largest spa in Venice, offering guests a blend of wellness, culinary experiences, and hospitality amidst a backdrop of historic significance.
The resort offers a variety of amenities such as a rooftop pool with views, Mediterranean gardens, a historic church, a kids' club, padel courts, the Sapori Cooking Academy and is pet friendly.
KSL partner Martin Edsinger said: "With its private island setting and strong performance, coupled with Venice's enduring appeal to luxury travellers, the JW Marriott Venice exemplifies the type of irreplaceable real estate we seek to invest in."
"We are excited to further elevate this remarkable resort through thoughtful investment and enhancements that will enrich the guest experience and ensure the JW Marriott Venice continues to stand apart as one of Europe's premier destinations."
Last June, Blackstone Real Estate, part of the global investment company Blackstone, announced the acquisition of Village Hotels from affiliates of KSL Capital Partners.
Furthermore, in the same month, Leonardo Hotels agreed to acquire Zien Group and 12 hotels in the Netherlands from affiliates of KSL Capital Partners and its partner Garden Capital Group.
