Manager Orienta Capital announced the acquisition of a hotel in Porto for its Hostel Experience Europe fund.
The building in question is classified as a UNESCO World Heritage Site and has a total of 2,700 square meters and a capacity for 200 beds. As of January 2022, it will be managed by The Central House brand.
Currently, Orienta Capital has a total of 2,090 under management. The acquisition is part of the Hostel Experience Europe fund's strategy, which intends to invest 120 million euros over the next 5 years, namely in the acquisition of land, properties for rehabilitation, turnkey projects or complete companies.
The idea is to own a total of 10 to 15 tourist developments, projects that are an alternative to the financial markets and «provide profitability for investors, while contributing to the economic development of the area in which they are located».