Sixth Street and Riller Capital: The Funds Buying Trophy Hotels, Luxury Resorts and Hospitality Platforms

Why this dossier matters for the hotel investment market

Something highly relevant is happening in the international hotel investment market: major institutional capital is no longer simply buying hotels. It is buying value-creation platforms.

These investors are not looking only for real estate. They are looking for assets capable of generating returns through a combination of property value, operations, branding, technology, debt structuring, capital expenditure, repositioning, revenue management and exit strategy.

This is the framework through which the cases of Sixth Street and Riller Capital should be understood.

Sixth Street is a global private capital platform, with more than $130 billion in assets under management and committed capital according to its most recent communications. Riller Capital, by contrast, is a specialist hotel-focused investment boutique, with more than $1.5 billion under management and over 70 hotels within its stated investment perimeter.

They are two very different players.

Sixth Street brings capital, structure, financial flexibility and the ability to invest across the entire capital stack. Riller brings hotel expertise, operational asset management, brand knowledge, execution capability and a specialist focus on improving hotel performance.

Their partnership on transactions such as Seattle Marriott Waterfront, The Clancy in San Francisco and Park Hyatt Beaver Creek Resort & Spa sends a clear signal: in the hotel sector, the most sophisticated institutional capital increasingly looks for partners capable of transforming an asset, not merely acquiring it.

For the Italian market, this is a central issue. Many hotels have potential, but not all have the structure, data, governance, brand, management and industrial plan required to attract international investors. The Sixth Street–Riller case shows what professional capital is really looking for when it evaluates hospitality assets.

For further analysis on hotel valuation, management, revenue management, distress, asset enhancement and hospitality development, readers can also consult the hotel guides by Roberto Necci, the Investimenti Alberghieri blog and the news/blog section of Investhotel.

Executive summary

Sixth Street and Riller Capital represent two complementary models of hotel investment.

Sixth Street is flexible institutional capital: large scale, global reach, real estate expertise, growth equity capabilities, private credit, asset-based finance and hybrid structures. In hospitality, it invests both in physical hotel assets and in technology platforms connected to the sector, such as Guesty and Stayntouch.

Riller Capital is the operational specialist: a hotel-focused firm founded in 2019, with a model built around acquisitions, repositioning, renovation, asset management, revenue improvement and value creation at the individual hotel level.

The most interesting interpretation is this: Riller is not Sixth Street’s competitor. It is its operational complement. Sixth Street has the capital. Riller has the hotel depth. Together, they can address situations in which the hotel is not merely a property to be acquired, but a business to be improved.

Recent transactions point to four main strategic directions:

1. Urban recovery hotels, such as The Clancy in San Francisco.

2. Waterfront and upper-upscale assets, such as Seattle Marriott Waterfront.

3. Trophy resorts with high barriers to new supply, such as Park Hyatt Beaver Creek.

4. Hospitality technology platforms, such as Guesty and Stayntouch.

The message for the Italian market is clear: the modern hotel investor does not buy only rooms, walls and location. It buys transformation potential.

The central question: why are funds returning to hotels?

Hotels are complex assets. They are not passive real estate.

A long-let office building can be assessed mainly through rent, lease duration, tenant quality and yield. A hotel, by contrast, is an operating business inside a real estate asset. Its value depends on many variables:

• rooms revenue;

• ADR;

• occupancy;

• RevPAR;

• F&B revenue;

• ancillary revenue;

• labour costs;

• energy costs;

• distribution channels;

• OTA commissions;

• brand;

• management contract;

• capex;

• online reputation;

• seasonality;

• local market dynamics;

• leisure, corporate, group and MICE mix;

• capital structure;

• exit strategy.

This complexity discourages generic investors, but attracts specialist ones. Where there is complexity, there is also the possibility of generating alpha.

A hotel bought badly can destroy capital. A hotel bought well, managed better and correctly repositioned can produce a much greater increase in value than a traditional real estate asset.

This is where Sixth Street and Riller come in.

Sixth Street: flexible capital applied to hospitality

Sixth Street is a global investment platform founded in 2009. The firm operates across several areas: real estate, direct lending, growth, public markets, insurance solutions, asset-based finance and opportunistic strategies.

This structure matters because it allows Sixth Street to avoid rigid thinking.

A traditional investor may ask: “Should we buy this hotel or not?”

An investor such as Sixth Street can ask more sophisticated questions:

• should we enter through equity?

• should we finance the transaction?

• should we structure preferred equity?

• should we create a joint venture?

• should we invest in the technology platform serving the hotels?

• should we acquire the asset below replacement cost?

• should we back a specialist operator?

• should we enter a distressed or dislocated market phase and wait for recovery?

This approach is particularly well suited to the hotel sector, where value often depends on the structure of the transaction itself.

In hospitality, Sixth Street does not appear to limit itself to acquiring stabilised assets. Its most interesting transactions fall into three categories:

1. opportunistic or value-add acquisitions of physical hotel assets;

2. investments in resorts or trophy assets that are difficult to replicate;

3. investments in software platforms linked to hospitality.

This combination makes Sixth Street an investor worth watching closely, because it does not interpret the hotel as an isolated asset, but as part of a broader ecosystem.

Sixth Street’s main hospitality transactions

The publicly identifiable transactions show a progressive strategy.

The sequence is meaningful.

Sixth Street initially entered hospitality through platforms such as Airbnb. It then invested in European hotels, hospitality software and, more recently, accelerated into physical hotel assets in the United States.

The 2025-2026 acquisitions suggest growing conviction around hotels as an asset class: Fairmont Dallas, Seattle Marriott Waterfront, The Clancy and Park Hyatt Beaver Creek represent four different expressions of the same theme.

A hotel may be urban, leisure-driven, resort-based, luxury, value-add or technology-enabled. But the logic remains the same: invest where capital, structure and management can generate value.

The decisive concept: buying below replacement cost

One of the most important concepts in this analysis is replacement cost.

Replacement cost is the amount required today to recreate an equivalent asset. In the case of a hotel, it includes:

• land acquisition or land availability;

• design;

• permits;

• construction;

• mechanical and technical systems;

• furniture, fixtures and equipment;

• brand standards;

• development timeline;

• financing costs;

• planning and entitlement risk;

• pre-opening costs;

• operating ramp-up.

Buying a hotel below replacement cost means acquiring an asset for less than it would cost to build it today.

This can be a major advantage, but only if the asset is recoverable.

A hotel may be priced below replacement cost because the market is depressed, because the seller needs liquidity, because the debt burden is excessive, because capex is required or because the destination is temporarily out of favour.

The key is to understand whether the discount is an opportunity or a signal of structural risk.

In Sixth Street’s case, the thesis appears to be this: acquire quality assets in situations where the price reflects market fear more than the hotel’s long-term value potential.

This is a typical sophisticated-investor approach. They do not necessarily chase “easy” assets. They look for assets that are complex, but readable.

The Clancy, San Francisco: urban recovery and calculated risk

The Clancy, an Autograph Collection hotel in San Francisco, is one of the clearest examples of the Sixth Street–Riller strategy.

San Francisco has been one of the most debated US hotel markets in recent years. Corporate demand has changed, remote work has reduced certain flows, the urban core has faced reputational challenges and the recovery has not been linear.

For many investors, that would have been a reason to avoid the market. For a contrarian investor, it can become a reason to enter.

The Clancy can be read through three levels of investment thesis.

1. Real estate thesis

The asset is located in a global city, in a meaningful urban location, with features that would be difficult to replicate at current costs. If acquired at a basis below replacement cost, it offers an implicit layer of protection.

2. Market thesis

Despite its recent challenges, San Francisco remains a market with potential linked to technology, tourism, conventions, business travel, urban leisure and international demand.

3. Operational thesis

Value does not depend only on the city’s recovery. It also depends on the ability to improve revenue, costs, positioning, distribution channels and product perception.

This is where Riller comes in.

Sixth Street can assess the macro, real estate and financial risk. Riller can work on the hotel as an operating machine. The combination reduces the risk of approaching the asset through a purely financial lens.

Park Hyatt Beaver Creek: when scarcity becomes value

Park Hyatt Beaver Creek Resort & Spa reflects a different investment logic.

This is not an urban recovery play. This is a trophy resort play.

A luxury resort in a premium ski destination has very different characteristics from an urban hotel:

• limited supply;

• high barriers to entry;

• location that is difficult to replicate;

• high-spending leisure demand;

• group and incentive potential;

• international brand;

• high ADR;

• ancillary revenue;

• experiential value;

• long-term patrimonial appeal.

In this type of asset, scarcity is an integral part of value.

It is not enough to ask how much the hotel earns today. The real question is how difficult it would be to create a comparable product in the same market.

When the answer is “very difficult”, the asset acquires a defensive quality. It may still move through economic cycles, but it remains rare.

For Sixth Street, Park Hyatt Beaver Creek represents an investment in a premium product. For Riller, it represents a sophisticated operating platform: every improvement in ADR, ancillary revenue, seasonal management, positioning and cost control can materially affect value.

Seattle Marriott Waterfront: waterfront positioning and upper-upscale demand

Seattle Marriott Waterfront is another important piece of the strategy.

Waterfront hotels often have distinctive characteristics:

• recognisable location;

• leisure appeal;

• corporate component;

• group potential;

• visibility;

• physical barriers to replication;

• stronger pricing power than secondary assets.

The value of a waterfront hotel is not only in the room. It is in the experience, the view, the location and the identity of the place.

In a city such as Seattle, the asset can capture corporate, leisure, cruise-related, event and international demand. The presence of Marriott as brand and manager is also important, because it reduces commercial risk and provides global distribution infrastructure.

For Sixth Street and Riller, Seattle Marriott Waterfront confirms the intention to focus on assets with a clear story: not commodity hotels, but properties with elements of uniqueness.

Fairmont Dallas: the potential value of historic urban hotels

Fairmont Dallas belongs to another category: a large, recognisable urban hotel with relaunch potential.

Hotels of this type can be complex. They have significant scale, large fixed costs, often substantial capex requirements and a strong dependence on the health of the urban market.

But they can also offer meaningful upside.

If acquired at attractive values, they can benefit from:

• recovery in urban demand;

• brand relaunch;

• targeted refurbishment;

• improved commercial mix;

• rate repositioning;

• better use of meeting and event spaces;

• greater operating efficiency.

Once again, the hotel cannot be read only as a real estate asset. It must be read as an operating platform.

Porto Cervo: why the Italian case is strategic

The transaction involving the former Hotel Le Palme in Porto Cervo is particularly relevant for Italy.

Costa Smeralda is one of the strongest luxury markets in the Mediterranean. High-quality hotel assets are scarce, difficult to replicate and connected to an international customer base with substantial spending power.

Sixth Street’s interest in this type of project confirms that Italy remains extremely attractive to international capital, but under specific conditions.

Sophisticated investors look for:

• iconic locations;

• assets with repositioning potential;

• international demand;

• high-quality operators;

• scarce product;

• potential for ADR growth;

• coherent capex requirements;

• clear governance;

• professional documentation;

• credible exit potential.

Italy’s problem is not lack of appeal. The problem is often lack of structure.

Many Italian hotels are located in extraordinary destinations, but are not prepared for dialogue with funds, international family offices, operators or private equity platforms. Solid business plans, reliable data, GOP analysis, benchmarking, capex plans, brand scenarios and professional valuations are often missing.

Any hotel owner seeking to attract capital must change perspective: the hotel should not be presented as “a beautiful property in a good location”, but as a structured investment case.

On these topics, the hotel guides by Roberto Necci provide useful insight for owners, investors and operators seeking to understand how hotels are valued, managed and enhanced.

Guesty and Stayntouch: why software is part of the hotel investment strategy

The most modern aspect of Sixth Street’s strategy is its exposure to hospitality software.

Guesty and Stayntouch are not hotels. They are technology infrastructure.

Guesty operates in property management for short-term rentals and hospitality. Stayntouch is a cloud-based PMS for hotels.

Why are they relevant in a dossier on hotel investment?

Because the modern hotel is increasingly a technology-driven machine.

A contemporary hotel depends on:

• PMS;

• channel manager;

• booking engine;

• CRM;

• revenue management system;

• business intelligence;

• payment systems;

• operational automation;

• online reputation;

• digital distribution;

• guest data;

• integration between departments.

Investing in the platforms that serve hotels means investing in the infrastructure layer of hospitality.

It is an intelligent strategy because it allows participation in the sector’s growth without necessarily taking direct real estate risk on every individual asset.

In other words, Sixth Street does not look only at hotels as properties. It also looks at the tools that allow hotels to operate, sell, manage and grow.

That is a major difference from a traditional real estate investor.

Riller Capital: hotel specialisation as a competitive advantage

Riller Capital is a very different type of company from Sixth Street.

Founded in 2019 by Suril Shah, it presents itself as a real estate private equity firm focused on hotels. Its model is vertical, operational and specialist.

Riller states that it has more than $1.5 billion under management and over 70 hotels. But the most interesting point is not only scale. It is the nature of the strategy.

Riller focuses on:

• operational improvement;

• renovation;

• repositioning;

• adaptive reuse;

• new development;

• ground leases;

• sale-leasebacks;

• asset management;

• revenue management;

• construction and design.

This reflects an owner-operator culture rather than a passive investment approach.

In the hotel sector, that makes a major difference.

A generic investor may look at price per key, cap rate, RevPAR and location. A specialist investor also looks at what happens inside the hotel:

• is staffing correctly sized?

• is revenue management effective?

• is the brand appropriate?

• can the management agreement be improved?

• does the capex generate a return?

• are OTAs weighing too heavily on profitability?

• does F&B create value or absorb margin?

• is the corporate/leisure mix right?

• is online reputation limiting ADR?

• can the product be sold to a higher-value segment?

These are operational questions, but they determine financial value.

Riller Capital’s hotel transactions

The publicly identifiable transactions show an interesting progression.

This trajectory shows a move from branded select-service transactions to larger, more complex and more institutional assets.

The first visible partner is KKR, one of the world’s leading investment platforms. Riller then becomes a partner to Sixth Street on higher-end transactions.

The signal is clear: the market recognises Riller as an operational specialist that can be used by large capital providers.

The role of Riller’s management team

One of Riller’s most relevant features is the profile of its management team.

Suril Shah and Akshay Goyal come from high-level institutional hotel and real estate backgrounds, particularly within the Starwood ecosystem. This matters because, in the hotel sector, the credibility of the team is critical.

A fund or capital platform does not choose an operating partner simply because it has a strong presentation. It chooses that partner because it believes the team can:

• source transactions;

• negotiate with sophisticated sellers;

• understand the real quality of a hotel;

• estimate capex accurately;

• engage with international brands;

• manage operators;

• improve performance;

• protect capital;

• prepare the exit.

Riller appears to have built its positioning precisely around this role: to be the hotel-specialist partner for larger capital providers.

Why Sixth Street and Riller work together

The relationship between Sixth Street and Riller is interesting because it does not appear to be a one-off.

The transactions involving Seattle Marriott Waterfront, The Clancy and Park Hyatt Beaver Creek suggest a repeated partnership. This points to a replicable model.

The division of roles appears logical.

Sixth Street brings:

• institutional capital;

• underwriting capability;

• financial flexibility;

• credibility with sellers and lenders;

• access to complex structures;

• portfolio-level perspective.

Riller brings:

• hotel knowledge;

• operational asset management;

• income statement analysis;

• performance improvement capability;

• relationships with brands and operators;

• execution control.

In the hotel sector, this combination is powerful.

Capital without operational expertise risks buying badly or managing poorly. Operational expertise without capital risks being unable to access the best opportunities. Together, they can compete for assets that require both financial strength and hotel intelligence.

Sixth Street vs Riller Capital: direct comparison

The conclusion is clear: Sixth Street and Riller should not be viewed as equivalent investors.

Sixth Street is a capital platform. Riller is a hotel expertise platform.

Value is created through their combination.

What these investors really look for in a hotel

The Sixth Street–Riller case helps explain what hotel investment funds look for when analysing a transaction.

They are not simply looking for “a good hotel”. They are looking for an asset with a clear thesis.

The questions that matter are these.

1. Is there a discount to potential value?

Can the hotel be acquired at an attractive price relative to its stabilised value or replacement cost?

2. Is there an operational lever?

Can ADR, occupancy, RevPAR, GOP or value per key be increased?

3. Is there a real estate lever?

Is the asset rare, well located, expandable, transformable or difficult to replicate?

4. Is there a brand lever?

Could a brand change, upgrade or new management agreement increase value?

5. Is there a capex lever?

Are the required investments proportionate to the expected return?

6. Is there an exit?

Can the hotel be sold to a core fund, a REIT, a family office, an operator or an international investor?

This is the mindset of the professional investor.

Operational box: what Italian hotel owners should learn

An Italian hotel owner seeking to attract capital must prepare the hotel as an investment dossier.

At minimum, the following are required:

• clear financial statements;

• recast income statement;

• historical revenue and cost data;

• ADR, occupancy and RevPAR;

• GOP and margins;

• historical capex and required capex;

• planning and zoning status;

• real estate documentation;

• any lease or management agreements;

• competitive analysis;

• market benchmarking;

• five-year business plan;

• repositioning assumptions;

• analysis of current and potential value;

• exit strategy for the investor.

Those who present only “number of rooms, location and asking price” are not speaking the language of institutional capital.

Those who present a clear plan, solid data and a credible value-creation thesis can attract more qualified investors.

The issue of hotel valuation

A hotel valuation cannot be reduced to price per square metre.

This is one of the most common mistakes in the Italian market.

A hotel must be valued by considering:

• earnings capacity;

• quality of revenue;

• sustainability of costs;

• competitive positioning;

• operating risk;

• required investment;

• potential GOP improvement;

• real estate value;

• attractiveness to investors and operators;

• debt structure;

• exit scenario.

The value of a hotel is not only what it produces today. It is what it can produce after a rational intervention on product, management, brand and market positioning.

For this reason, hotel valuation is central in private equity hospitality transactions. An investor does not buy the past. It buys a reasoned projection of the future.

On these issues, the hotel guides by Roberto Necci offer useful support for understanding hotel management, valuation, revenue management, distress and strategic development.

The role of debt in hotel investments

Debt is one of the most delicate elements in any hotel transaction.

A hotel may appear attractive operationally, but become fragile if the financial structure is wrong.

The hotel sector has more volatile cash flows than other real estate asset classes. Demand can change quickly. Costs can rise. Capex can be underestimated. Ramp-up can take longer than expected.

For this reason, leverage must be sustainable.

In more complex transactions, the capital structure may include:

• senior debt;

• mezzanine financing;

• preferred equity;

• joint venture equity;

• seller financing;

• capex facilities;

• refinancing after stabilisation;

• hybrid structures.

Sixth Street has an advantage precisely because it understands multiple parts of the capital stack. It can think as an equity investor, a credit investor, a JV partner or a structured finance provider.

In hospitality, this flexibility is highly valuable.

Future opportunities for Sixth Street and Riller

Looking at recent transactions, several future directions can be identified.

1. Urban hotels in dislocated markets

Markets with temporarily weak demand but solid fundamentals can offer opportunities for contrarian investors.

2. Luxury resorts

Premium leisure assets, ski resorts, waterfront resorts and iconic destinations will continue to attract capital if characterised by limited supply.

3. Southern Europe

Spain, Italy, Greece and Portugal remain highly attractive markets for international hospitality capital, especially in the leisure and luxury segments.

4. Assets requiring repositioning

Undermanaged, undercapitalised or poorly branded hotels can offer significant upside.

5. Hospitality technology

Software, PMS, revenue tools, property management platforms and distribution systems will remain strategic areas.

6. Operating joint ventures

The combination of institutional capital and specialist partners is likely to become increasingly common.

Why Italy should pay close attention to these models

Italy is one of the strongest tourism markets in the world, but it does not always convert that advantage into efficient capital attraction.

The problem is not demand. The problem is often the organisation of supply.

Many Italian hotels have:

• outstanding locations;

• valuable properties;

• history;

• recognisability;

• international potential.

But they also have:

• family management that is not fully professionalised;

• weak reporting;

• deferred investment;

• weak branding;

• inefficient distribution;

• improvable margins;

• suboptimal debt;

• succession challenges;

• lack of an industrial plan.

For an international fund, these elements can be either an obstacle or an opportunity.

They become opportunities when there is room to intervene with capital, management, branding and a value-creation plan.

They become obstacles when data, ownership clarity, governance and pricing realism are missing.

The risk of overvaluing one’s own hotel

One of the most common problems in Italian hotel transactions is the gap between the seller’s asking price and the value an investor can recognise.

The owner often values the hotel on the basis of:

• emotional value;

• historical cost;

• location;

• generic potential;

• personal expectations;

• unverified comparables.

The investor, by contrast, values it on the basis of:

• current income;

• normalised income;

• required capex;

• operating risk;

• cost of capital;

• expected return;

• exit value;

• alternative opportunities available in the market.

If these two views do not converge, the transaction will not close.

The Sixth Street–Riller case shows that sophisticated investors look for value, but they do not accept weak narratives. They want numbers, scenarios, measurable risk and a credible path to value creation.

The real lesson: the hotel is an industrial platform

The most important point in this dossier is that the hotel must be treated as an industrial platform.

It is not only a building. It is not only a contract. It is not only a destination.

It is a system in which the following interact:

• capital;

• management;

• product;

• people;

• technology;

• brand;

• distribution;

• market;

• finance;

• reputation.

Investors such as Sixth Street and Riller look precisely at this system.

When the system is inefficient but improvable, opportunity emerges. When the system is confused, opaque or unmanageable, risk emerges.

This distinction is fundamental for anyone seeking to sell, buy, finance or reposition a hotel.

Implications for investors, owners and operators

For investors

Hospitality can offer attractive returns, but it requires specific expertise. Generic real estate logic is not enough.

For owners

Preparing a hotel for sale or for the entry of capital means building a professional investment dossier, not simply publishing a real estate fact sheet.

For operators

The growing presence of institutional capital creates opportunities for management companies, consultants, revenue managers and asset managers capable of producing measurable results.

For the Italian market

The challenge is to move from a patrimonial culture to an industrial culture of the hotel.

Connection with the Italian hotel investment ecosystem

The Sixth Street–Riller case fits perfectly within the themes covered by the Investimenti Alberghieri blog: hotel value, funds, transactions, acquisitions, distress, asset management and sector transformation.

For those who want to explore further cases, opportunities and hospitality market dynamics, it is also useful to consult the analysis published in the news/blog section of Investhotel, which offers an additional observatory on hotel operations, news and market trends.

The hotel guides by Roberto Necci instead allow readers to go deeper into managerial and strategic topics: hotel valuation, revenue management, operations, business distress, organisation, sale processes and development.

These three levels — investment analysis, market observation and management guides — are complementary. Together, they make it possible to read the hotel not only as real estate, but as a business, a patrimonial platform and a financial asset.

Methodological note and sources of the dossier

This article is structured as an analytical dossier based on public information, corporate communications, disclosed hotel transactions, investor-stated data and analysis of the main hospitality transactions attributable to Sixth Street and Riller Capital.

Data on AUM, committed capital, hotels under management, deal size, operating partners, brands and transactions should be understood as publicly available information or data stated by the relevant parties in the communications reviewed.

Where sources do not publicly disclose elements such as exact ownership stakes in joint ventures, limited partners, detailed vehicle structures, equity allocation or expected returns, those elements should be considered not publicly available.

The value of this dossier therefore does not lie in claiming to reconstruct every confidential detail of the transactions, but in interpreting the strategic model: how these investors move, what assets they seek, what risks they assume, what role they assign to operations and what the Italian market can learn from these transactions.

CTA: when a professional view of a hotel asset is required

The Sixth Street and Riller transactions show that the value of a hotel does not depend only on location, but on the ability to convert that location into sustainable economic performance.

For owners, investors, funds, family offices, operators and stakeholders interested in hotel transactions, a professional assessment of the asset is essential.

Hotel Management Group supports consulting, advisory, development, value enhancement, repositioning and strategic analysis projects in the hospitality sector, with an integrated approach combining hotel management, investment, revenue, organisation and value creation.

A hotel may have a good location and still not yet be a good investment. It may have potential and still not yet be financeable. It may have value, but still not be readable for institutional capital.

The difference lies in data, method, strategy and execution capability.

Conclusion: capital buys the future, not the past

Sixth Street and Riller Capital are interesting not only because of the transactions they have completed, but because of what they represent.

They represent a new phase in hotel investment, in which institutional capital seeks complex but transformable assets. Hotels acquired not because they are perfect, but because they can be improved. Temporarily dislocated markets with recoverable fundamentals. Resorts that are difficult to replicate. Technology platforms serving the hospitality sector. Operating partners capable of turning a business plan into measurable results.

The message for the Italian market is very clear.

Hotels will not always be valued only for what they have been. They will be valued for what they can become.

But only if that potential is demonstrable, measurable and manageable.

Capital buys the future, not the past.

And the future of a hotel depends on the ability to combine real estate vision, hotel management, capital, technology and industrial discipline.

Those who learn to speak this language will be able to attract investors, enhance assets and participate in the new season of hospitality investment.

Those who continue to describe the hotel merely as “walls and location” risk seeing its real value expressed by someone else.

Roberto Necci - r.necci@robertonecci.it