Corum Asset Management has bought the newly built Tribe Milan Malpensa hotel from Foruminvest for an undisclosed amount.
The Tribe hotel, with its 240 rooms, is located next to the international terminal of Malpensa Airport (Milan) and is fully leased to Amapa Group for an initial term of 30 years.
What they said
Mélanie Ballu, investment director Corum: "This Core investment fits seamlessly with our long-term strategy and is benefitting from a promising hotel market trends following recovery after Covid. This hotel is an opportunity for diversification of our portfolio in compliance with our in-house ESG criteria. The transaction with Foruminvest was very successful.”
Ezio Romani, CEO Gruppo Amapa: “We already notice that the Tribe brand is highly appreciated by our customers, not least because of the design and the associated service. The occupancy in first the 8 months of operations is above our expectations. After having experienced the cooperation with Foruminvest and the success of the hotel we would like to explore, together with Foruminvest, other opportunities in the Italian market.”
Marco Mutti, managing director Foruminvest IT: “The turnkey development of this Tribe hotel is a perfect example of our hotel strategy; vibrant locations, attractive brands and experienced tenants. This appeals greatly to investors in the hotel sector. This second sale to Corum stands to confirm the successful relationship that started with the sale by our Dutch headquarters of Ibis Styles at Rotterdam Ahoy.”
David Ermia, CEO Foruminvest Group: “Foruminvest has its roots in retail developments and realized leading projects in that sector in Europe for decades. In recent years, the focus has been shifted towards developing hotel projects. The experiences in retail projects have proven to be very valuable for the hotel sector. Foruminvest aims to become one of the important players in Europe in the hotel real estate sector, with the new developments of a 4* Ruby hotel in Rotterdam (Netherlands) and the ultra-luxury 5* hotel at Lake Como (Italy) being good examples of what is in the pipeline.”