Goldman Sachs AM acquires FTC Hotels

EU: The real estate business within Goldman Sachs Asset Management has acquired the lifestyle hotel franchise collection company FTC Hotels for an undisclosed sum.

FTC Hotels owns two brands: Casa Cook and Cook’s Club. The portfolio comprises 16 properties located in the Mediterranean and the Red Sea. 

Casa Cook first launched in 2016 with Casa Cook Rhodes. Since then, the collection has grown to include five boutique resorts with three in Greece and two in Egypt.

Cook’s Club is an urban lifestyle hotel brand with 11 properties in operation. The hotels are located in Turkey, Greece, Egypt, Spain and Bulgaria. 

The investment from Goldman Sachs will accelerate expansion across Europe for both brands.

Alessandro Dassi, managing director of Casa Cook and Cook’s Club, said: “This is an exciting time for both brands and is a move which will enable them to continue to improve the holiday experience of our guests. The investment by Goldman Sachs is a testament to the strength of our brands and unique proposition in the growing lifestyle resort market segment. Together we will further unlock business value and take the brands to the next level.”

Nabil Aquedim, managing director at Goldman Sachs Asset Management, added: “This investment aligns with our strategy to build a portfolio of differentiated hotels and resorts across the Mediterranean. We look forward to working with Alessandro and his team to continue to grow the brands they created across Europe.”

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