Jones Lang LaSalle Hotels has been awarded for its part in last year‘s sale of the Four Seasons Milan. The award presented at the International Hotel Investment Forum in Berlin recognised the landmark sale of the prestigious Italian hotel which achieved a world record value of €1.87 million per room. The property was sold on behalf of Quinlan Private to Statuto group for €220 million. Jones Lang LaSalle Hotels advised the vendor, Quinlan Private.
Roberto Galano, Head of Jones Lang LaSalle Hotels in Italy who worked on the deal said: "We have been advising on this hotel for the last ten years so we have a great knowledge and understanding of this first class asset. The deal appears to be a win-win for both vendor and purchaser with Quinlan acquiring the asset for circa 175 million in November 2002, representing 1.5 million per room and selling it for 1.87 million per room some three years later, an excellent return on investment. With an initial yield of 5.0%, this would appear to be a good initial income return for a 'Trophy Asset' and it will no doubt continue to see capital appreciation. The purchase fits well within the Statuto Group which also owns the legendary Hotel Danieli in Venice."
Source: Jones Lang LaSalle