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Sale on behalf of Salvatore Naldi Group - 2008
Jones Lang Lang LaSalle Hotels was instructed by Salvatote Naldi Group to sell the five-star JW Marriott Tiberio Palace Resort & Spa and the adjacent Residence Tiberio. The complex features 61 rooms and 10 serviced apartments and opened in 2005 after a complete renovation.
A web-based marketing campaign started in Spring 2007 before the credit crunch took place and three offers were received. After the summer the three offers were withdrawn and our mandate came to an end. In November 2007 the Naldi Group asked Jones Lang LaSalle Hotels to renew its mandate.
At the end of December 2007 a buyer, Aled S.p.A., was identified. Aled purchased the hotel for €70M, showing a return of 2.3% on 2007.
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