PGIM Real Estate has sold a portfolio of premium campsites in Italy to Sandaya, enhancing its European value-add strategy in the open-air hospitality market.
Information on the Target
PGIM Real Estate has successfully divested an open-air hospitality portfolio that encompasses premium 'resort-style' campsites located in the picturesque regions of Veneto and Tuscany, Italy. This strategic move was executed on behalf of PGIM Real Estate's European value-add strategy, marking a significant step in expanding the company’s investment footprint in the hospitality sector.
The portfolio includes three notable campsites in Tuscany—International Camping Etruria, Pianacce Camping Village, and Toscana Bella Camping Village—and one in Veneto, known as Europa Camping Village. Since 2021, PGIM Real Estate has focused on enhancing its portfolio through targeted acquisitions to capitalize on the tourism potential of these two prominent destinations in Italy.
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Industry Overview in Italy
Italy stands as the second largest market for open-air hospitality in Europe, offering extensive opportunities for growth in the tourism sector. The unique appeal of 'glamping' and open-air experiences has garnered
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