Manuel Lao, ex-owner of the Cirsa gambling group, is opting for the hotel market and is betting on the recovery of the sector after the tsunami caused by Covid.
- The new group will have an investment capacity of more than 100 million euros.
- Growth will combine the asset light and asset heavy model to reach a portfolio of 20 hotels in 5 years.
The investment holding company Nortia Capital and hotel group Pulitzer have partnered to create a company specialising in urban boutique hotels that will operate under the Pulitzer brand.
Pulitzer Group currently manages three hotels, located in Barcelona (2) and Paris, and expects to reach a portfolio of 20 urban 4- and 5-star hotels with around 1,500 beds under management in 5 years. The current portfolio includes the Hotel Pulitzer Barcelona, one of the city’s most internationally renowned hotels, whose terrace was recently selected by “Time Out” magazine as one of the 10 best terraces in the world.
Nortia and Pulitzer intend to expand their business model, based on hotels with a sophisticated luxury concept, a carefully designed interior and a personalised service, in prime locations in the main national (Madrid, Malaga, Valencia, Seville, Bilbao, Palma) and European cities (London, Rome, Lisbon, Paris). These are some of the cities where it plans to open hotels in the coming years, and it already has several projects in advanced negotiations that it expects to close soon.
The group is firmly committed to sustainability and technology in its hotels, with the aim of meeting the new needs of travellers and improving their experience.
The group’s growth project will combine the ‘asset light’ model (focused on asset management without ownership of the asset) and the ‘asset heavy’ model (combining ownership and management), for which they propose different partnership formulas with the main funds, socimis and family offices.
Through this transaction, Nortia Capital, Manuel Lao’s investment holding company, is strategically positioned to develop a benchmark chain in the hotel sector with Pulitzer Group, a family company with a long history in the sector, which has a team with extensive experience in large international hotel groups in the luxury sector.
“We are delighted with this new partnership with Nortia, which will allow us to advance in our growth plans. At the same time, we are committed to maintaining all the values of the Pulitzer brand and our track record of excellence in serving our customers,” explains Luis Roig, the company’s new president.
With this investment, Nortia Capital broadens its investment scope, reinforcing its interest in the hotel sector, in addition to its investments in other sectors such as infrastructure (KC Impact), renewable energy, nursing homes (Health Activos), offices and logistics (Merlin Properties), sustainable food (McWin Food Ecosystem Fund), among others.