PERIAL Asset Management completed the acquisition of Almar Jesolo Resort & Spa from Castello.

PERIAL Asset Management, a real estate fund management company, completed the acquisition of Almar Jesolo Resort & Spa, a luxury resort & spa in Venice, from Castello, an investment management company. Financial terms were not disclosed . "This transaction illustrates our confidence in the hotel sector, which is returning to its pre-crisis levels and is benefiting from the "revenge travel" trend. Almar Jesolo is also a recent property with high quality facilities and a recognised local operator with a secure long-term lease. In addition, a plan to reorganise the building has already been agreed, which will increase the building's capacity and thus increase the occupancy rate and the associated return," Laurent Boissin, PERIAL Asset Management, Deputy Managing Director in charge of Fund Management.