Israeli Firms Expand Rome Hotel Investments with Major Acquisitions
Translated & summarized from Ynet by baba
Israeli company White City Buildings Group has acquired two buildings in Rome for approximately 50 million euros to convert into luxury hotels, and sold two other upgraded properties. These deals are part of a larger trend of Israeli investment in Rome's hotel market, with chains like Isrotel and Fattal also making significant acquisitions and renovations. The company's CEO highlighted their strategy of creating value through property enhancement and expressed optimism about the Italian market.
The story in 6 lines · by baba
- White City Buildings Group acquired two Rome buildings for conversion into luxury hotels, investing around 50 million euros.
- The company also sold two previously upgraded properties in Rome for an undisclosed sum.
- These transactions are part of a broader wave of Israeli investment in Rome's hotel sector.
- Isrotel and Fattal hotel chains are also actively expanding their presence in the Italian capital.
- White City Buildings Group CEO Oren Pascal cited value creation through property enhancement as their core strategy.
- The Israeli investments are occurring within a larger context of international capital flowing into Rome's hospitality market.
Israeli real estate company White City Buildings Group (WCG) has announced four new transactions in Rome, totaling approximately 130 million euros. The deals include the acquisition of two buildings in central Rome, slated for conversion into luxury hotels, and the sale of two previously acquired and upgraded properties. One newly purchased building, a 6,000-square-meter former private school in the Prati neighborhood near Piazza del Popolo, will be transformed into a four-star hotel. The second acquisition, a 3,000-square-meter property near the Spanish Steps and Via Condotti, will undergo renovation to become a five-star hotel. The planned investment for these two properties is around 50 million euros.
WCG also completed the sale of two upgraded assets. The first is the Tonolo project, a former office building between Piazza Navona and the Pantheon, sold to Spain's Room00 hotel group and Italy's Kryalos investment fund for conversion into a 45-room hotel. The second sale is the Razella project, a 2,500-square-meter building near the Trevi Fountain, acquired from former Italian footballer Francesco Totti and partners. This property, previously intended as a 42-room five-star hotel, will now become a four-star hotel with approximately 52 rooms under its new owner, international hotel group H10.
These transactions add to a significant wave of Israeli investment in Rome's hotel market. Hotel chains such as Isrotel and Fattal have been active, with Isrotel acquiring the historic Savoy Hotel for 70 million euros and working on another project, La Scrofa. Fattal, through its Leonardo chain, has added the Leonardo Boutique Hotel Rome Monti and is renovating the former Cicerone hotel. WCG CEO Oren Pascal stated that these deals exemplify their strategy of creating value through property enhancement and expressed confidence in the Italian hotel market, noting further expansion plans in Milan, Venice, and other Italian cities.
This Israeli expansion is part of a broader trend of foreign investment in Rome's hospitality sector, with international funds and investors also competing for prime city center properties. Israeli companies have been drawn to Rome's historic buildings in sought-after tourist locations and the potential to convert residential and office spaces into hotels.
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