Cedar Capital Partners and L Catterton Real Estate (LCRE) have announced the formation of a strategic joint venture to create a luxury hospitality platform across Europe and North America.
The partnership will focus on acquiring, transforming and repositioning five-star hotels in leading urban and resort locations, aiming to build a portfolio of 10-15 landmark properties.
This initiative follows increased global demand for luxury travel and a supply-demand imbalance in the high-end hospitality sector.
The JV has concluded its first two acquisitions as part of the platform launch. These include the 177-room Garden Beach Hotel in Juan-les-Pins (Antibes, French Riviera), currently closed for redevelopment; and Penha Longa Resort, a Ritz-Carlton-managed 204-key property located within Sintra-Cascais Natural Park near Lisbon in Portugal.
Penha Longa Resort spans 220ha, offering two championship golf courses, Michelin-starred dining, spa facilities, and a country club.
LCRE managing partner and founder Mathieu Le Bozec said: “We see a compelling opportunity to build a differentiated luxury hospitality platform by combining our deep consumer insight and real estate capabilities with Cedar’s sector expertise.
“This partnership is well positioned to capitalise on strong tailwinds in global luxury travel and to create significant long-term value through the repositioning of iconic assets in highly sought-after destinations.”
Cedar founder and CEO Ramsey Mankarious said: “We are excited to partner with LCRE to pursue a targeted and scalable strategy in the luxury hospitality sector.
“With a shared vision and complementary expertise, we believe this platform will enable us to unlock the full potential of unique properties and deliver exceptional experiences for guests in key destinations across Europe and the US.”
LCRE invests in landmark hospitality assets worldwide, supporting partners with operational and strategic guidance.
“Cedar and LCRE announce JV for luxury hospitality platform” was originally created and published by Hotel Management Network, a GlobalData owned brand.
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