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Club Med Pragelato in the Milky Way ski region sold to HSBC Assurances Vie

  • Recreaction Srl completed the sale of the Club Med Pragelato, one of the group’s leading mountain resorts located in the Via Lattea, (Milky Way) one of Europe’s most extensive ski regions.
  • JLL’s Hotels & Hospitality Group acted as exclusive advisor of Recreaction Srl.

Recreaction Srl completed the sale of the Club Med Pragelato resort to HSBC Assurances Vie for around €50 million. 

This transaction is a testament to the fact that the right products with strong covenants continue to attract institutional capital.  The Club Med Pragelato opened in 2012, following the conversion of an existing upscale resort to new generation 4-Trident Club Med specifications.  The Club Med Pragelato is a finely appointed 234-unit resort-style hotel and accommodated over 20 chalets.  The resort features a broad selection of food & beverage and leisure facilities, as well as boasting a dedicated gondola connecting the resort to the Via Lattea ski region, making it a ski-in, ski-out experience. 

Mark Shaw, Director of Recreaction Srl, “We are extremely pleased to have secured a long-term institutional investor for this new 4-Trident Club Med mountain resort.  The strength of Club Med as an all-inclusive hotel operator and the new long-term lease agreement is an attractive investment for an institutional investor, such as HSBC.”

Roberto Galano, head of JLL’s Hotels & Hospitality Group Italy, “This transaction underpins the importance of providing the market with the right product and that Italy continues to attract international investor interest.  Italy is one of the world’s most visited tourism destinations and our hotel market has registered robust increases in demand and trading performance in the past few years.  With quality hotel trading fundamentals returning to pre-crisis levels and international tourism growing steadily, we expect increasing interest in hotel investments in Italy”.


Notes to editors:

Recreaction Srl – Is part of the investment portfolio of Finlaggan Limited - a specialized asset management company with a particular focus on acquiring or developing hotel and hospitality real estate projects. Finlaggan asset manages and operates the projects on its sole behalf and for third party investors.

HSBC Assurance vie –  HSBC Assurance vie is the insurance arm of HSBC Holdings Plc.  HSBC is one of the world's largest banking and financial services organisations. With more than 6,300 offices in both established and emerging markets, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfill their hopes and realise their ambitions. We serve around 54 million customers through our four Global Businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. Our network covers 75 countries and territories in Europe, the Asia-Pacific region, the Middle East, Africa, North America and Latin America.

JLL – JLL’s Hotels & Hospitality Group serves as the hospitality industry’s global leader in real estate services for luxury, upscale, select service and budget hotels; timeshare and fractional ownership properties; convention centers; mixed-use developments and other hospitality properties. The firm’s 300 dedicated hotel and hospitality experts partner with investors and owner/operators around the globe to support and shape investment strategies that deliver maximum value throughout the entire lifecycle of an asset. In the last five years, the team completed more transactions than any other hotels and hospitality real estate advisor in the world totaling nearly US $36 billion, while also completing approximately 4,000 advisory, valuation and asset management assignments. The group’s hotels and hospitality specialists provide independent and expert advice to clients, backed by industry-leading research.  For more news, videos and research from JLL’s Hotels & Hospitality Group, please visit: or download the Hotels & Hospitality Group’s iPhone app or iPad app from the App Store.