The Omnan Group has hired Eastdil Secured to find finance for the Westin Excelsior hotel in Rome, CoStar News can reveal.
The Israeli investor is looking to finance a sum of €350 million to €400 million, which includes the acquisition price and capex. Omnan Group bought the property from Qatar’s Katara Hospitality earlier this year.
The Westin Excelsior, Rome is one of the city’s most iconic palaces on the legendary Via Veneto. It is nestled between the Spanish Steps and the Borghese Gardens & Gallery. The 5-star hotel features 281 rooms and 35 Signature Suites, including one of the most spectacular suites in Europe the Villa La Cupola over two floors, with breathtaking views of the city.
In the same area, the Omnan Group, together with King Street Capital Management and Kryalos, developed the first W hotel in Rome. Omnan and King Street Capital announced the sale of the hotel in November to a joint venture between Canada’s CPP Investments and Hamilton Pyramid Europe.
The three teamed up in 2017 to acquire two office building and convert them into a luxury hotel with 162 rooms, 48 private balconies, terraces on the top floor and a rooftop bar and swimming pool.
The Omnan Group did not respond to a request for comment by the time of publication.