London-based private-equity firm Global Hospitality Investment Group announced it has completed the issue of €96 million ($109 million) of senior secured notes to refinance the 93-room Rome Edition, which is owned by Italian hotel firm Gruppo Statuto.
The financing permits Gruppo Statuto to refinance its existing development loan on the hotel, which opened in July 2023.
The Rome-based owner acquired the Marriott International-operated and -branded hotel in October 2023 for €245 million, or €2.5 million per key, from London-based Orion Capital Partners.
GHIC said in a news release that the “new facility provides the necessary long-term financial stability to optimise The Rome EDITION’s operations and maximize its market value.”
James Gibbs, GHIG’s managing director and head of Europe, said “this flexible financing solution is designed to ensure the continued success of such a trophy property in one of Europe’s leading leisure markets.”
His colleague, Sebastien Gottraux, vice president, said the transaction is GHIG’s “first deal in Italy after many years of exploring the market for the right opportunity.”
The deal is the second major refinancing for a Rome hotel in 2025.
In February, Luxembourg-based Boscalt Hospitality secured a €111.2 million loan to renovate the former Hotel Majestic Rome.
The hotel, which Boscalt acquired in June 2022, will be rebranded as the Baccarat Hotel Rome and have a new room count of 87.