Tuscany National Resort & Club

                      Cortona, Italy

 

 

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Industry

Real Assets

Company Type

Real Assets

Size

$20 Million

Investment Type

Equity

Overview

Park Street Tuscany is seeking $20 million to acquire and further develop the Tuscany National Resort & Club, a resort property in Cortona Italy, in the Tuscany Region of Italy (made famous by Under the Tuscan Sun). The Resort is surrounded by the vineyards, the Tuscan landscape and the golf course (Tuscany National will be an 18-hole championship golf course designed by Gary Player Design)

Opportunity

  • Acquiring and operating a quality resort/golf destination in Italy which is one of the most visited countries in the world with more than sixty-eight million annual visitors – over 22 million of those visitors go to the Tuscany region

 

  • Italy has a tremendous opportunity for growth in golf. Only 256 golf courses for a population of approximately 60 million, or about one golf course per 250,000 residents (the US has one golf course per 23,000 residents)

 

  • Italy has had very high barriers to development due to authorities that do not want to disturb history, and the variables in development permissions from local mayors and regional governments.

 

  • These development barriers will, in the view of management, be accretive to the resort’s value over time

Solution/Strategy

Acquire, reposition, and actively manage the project to reposition, stabilize occupancy and produce long-term growth.    

The sponsors expect to affiliate the property with Preferred Hotels & Resorts (“Preferred”) to become part of Preferred’s iconic 650 worldwide independent hotel and resort destinations across over 85 countries


The resort will be a boutique luxury destination attracting travelers from all over the world, as well as the local Italian population

Management

MIKE FROST – Co-Founder & Co-CEO

Founded Buena Vista Hospitality Group in 1986. BVHG has grown into one of the leading hospitality and golf management companies worldwide, providing development services, as well as pre-opening, marketing and consulting services, for over fifty projects. These projects range from luxurious convention and meeting destination resorts, urban commercial resorts, hotel condominiums, beach front resorts, spa and golf resorts to residential golf communities. Was one of the Principals of Shimberg, Kennedy and Frost (“SKF”) and headed the company’s hotel group, acquiring, managing and developing properties. SKF acquired its first hotel in 1975 which was the Hotel Royal Plaza on leased land in Walt Disney World. The success of the Royal Plaza was instrumental in the Walt Disney Company granting group a new land lease in 1979 for the development of the first new hotel inside Walt Disney World since the original group of hotels. This hotel became the 1028 room Buena Vista Palace Resort & Spa.  Led the team in joint venture with Equitable Life over the 20 years of ownership.

SCOTT BROWN – Co-Founder & Co-CEO

Prominent figure in hotel development since 2005. Strategic mindset and talent for cultivating strong partnerships with leading hotel brands. Astute analysis and rigorous research efforts culminated in a highly successful partnership with Hyatt for inaugural hotel ventures. Skillfully navigating the challenging landscape of the 2008 financial crisis. Under steadfast leadership, Park Street expanded its portfolio in California. During the downturn, strategically restructured Park Street, merging it with a top-tier general contractor renowned for excellence in full-service and select-service hotel construction, as well as luxury multi-family residential development. The company has become a successful development, construction, and management business.

Learn More About Park Street Tuscany

Thank you for your interest in Park Street Tuscany.

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CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

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