Essendi refocuses its hotel portfolio to strengthen its European footprint
Essendi, a leading owner and operator in the hospitality sector, announced the sale of five hotels located in Buenos Aires and Mendoza to ISWM. The transaction aligns with the company’s asset management strategy launched in 2021, designed to concentrate its portfolio on Europe’s most profitable markets.
With this transaction, 96% of Essendi’s hotel portfolio is now located in Europe, marking a turning point in the geographical distribution of its assets.
The company aims to strengthen the profitability and value of its portfolio, primarily focused on the economy and midscale segments, in line with its new strategic plan unveiled alongside its recent rebranding.
Over the past few years, Essendi has implemented a transformation plan to streamline and enhance its portfolio. Recent milestones include:
the opening of TRIBE Krakow Old Town in Poland
the acquisition of ibis Edinburgh Centre South Bridge in the UK
and the renovation of Novotel Zurich Airport Messe in Switzerland
These actions reflect the group’s intention to focus its investments on European assets with strong operational potential and to rely on established brands. Essendi had already carried out a similar operation last year involving a portfolio of hotels already located in Brazil.
Despite this divestment, Essendi continues to hold assets in Chile, Colombia, Mexico, and Peru.
The group is currently reviewing investment proposals for these properties, signaling a potential continuation of its portfolio optimization process in Latin America.