Azora, a Madrid-based European private equity real estate manager, completed the acquisition of Bluserena, a resort operator in Italy, from the Maresca family for $281m. "This transaction reconfirms Azora's conviction in the long terms prospects for the European leisure market and our belief that there is also significant pent-up demand for leisure travel due to COVID which will lead to a strong recovery in the market as vaccination programmes continue to progress across Europe. The acquisition of this major Italian operator is part of our commitment to the European hotel sector and particularly to the Italian market, as one of the most popular holiday destinations in the Mediterranean, backed both by strong domestic demand and growing international tourism in regions such as Puglia, Sicily and Sardinia," Concha Osácar, Azora Co-Founding Partner.