Investment Process
Our process ensures that every Euro of mezzanine capital is protected by a 30% equity cushion and backed by the global management power of Tier-1 hotel brands.
Investment Lifecycle
Disciplined execution from origination to exit.
Platform & Capital Readiness
Fund governance, AIFM oversight, LP capital, IC framework, advisor & brand partnerships.
Sourcing & Origination
Off-market branded hotel opportunities sourced via GP network, brands, lenders.
Pre-IC Screening
Initial underwriting, brand fit, capex vs ADR uplift, exit feasibility assessment.
Underwriting & Structuring
Mezzanine structuring ≤65% LTV, ≥30% sponsor equity, downside protection mechanisms.
Due Diligence
Legal, financial, tax, technical, ESG & PIP audits conducted with tier-one advisors.
Brand & Financing Lock-In
Signed brand agreements, PIP scope confirmation, senior debt approvals.
Closing & Capital Deployment
SPV-level execution, security package finalization, controlled capex drawdowns.
Active Asset Management
CAPEX oversight, brand activation, ADR & NOI optimization, ESG execution.
Stabilization & Value Harvest
Post-refurbishment stabilization, refinancing readiness assessment.
Exit & Liquidity
Refinancing, secondary sale, or portfolio exit within 5–7 year horizon.
Risk Framework
SPV-Level Discipline
Investments directly at SPV level ensuring full transparency, ring-fencing, and clear alignment of cash flows.
Defensive Asset Profile
Primary focus on 3★ and 4★ branded hotels with lower fixed costs, strong domestic demand, and flexible pricing.
Prime Locations Only
Investments limited to established or high-growth urban and leisure locations with proven demand drivers.
Geographic Diversification
Portfolio diversification across Romania and select CEE markets, mitigating country-specific risks.
Branded Operator Requirement
Mandatory operation by international brands providing operational expertise and global distribution.
ESG as Value Creation
Discover how ESG measures create measurable economic value in our portfolio.
View ESG