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News Release

London/Milan

Alliance Hotel Bologna Airport Sold

Appetite for midscale hotel products with potential upside


London/Milan, 24th September 2012 – On behalf of BRE Alliance Hospitality Italy, Jones Lang LaSalle Hotels is pleased to announce the sale of the Alliance Hotel Bologna Airport to Bologna Airport Srl.  The sale underpins the interest of mid-market hotel products whereby direct independent management and marketing can add value.

Giuliano Esposito of Jones Lang LaSalle Hotels, Italy said: “The completion of this sale is an important indicator for Italy’s mid-market hotel sector.  This transaction underlines the sustained appetite for midscale hotel products with potential upside, ideal for domestic operators and investors.  Despite the uncertainties concerning the Eurozone and the perceived country risk attached to Italy, it is the small to medium transactions, which are easier to finance, that will characterise the hotel investment market in Italy in the short to medium term”.
 
The Alliance Hotel Bologna Airport offers 143 guestrooms and is located in a business and commercial district just outside the city centre, catering primarily to business demand.  The transaction comprised the business and real estate.