Certosa Capital Strategy
Selected assets in Italy's protected markets
Certosa gives U.S. private investors a disciplined route into Italy's most distinctive hospitality destinations. Through its local network, it places the right operator in each property.
Irreplaceable value, built in sequence
Every opportunity follows a defined four-stage process, from origination to a stabilized asset, giving investors a consistent framework across markets and structures.
Access
Relationships across Italy's target markets surface opportunities early, which improves Certosa's entry basis and keeps its options on structure open.
Irreplaceable value, built in sequence
Every opportunity follows a defined four-stage process, from origination to a stabilized asset, giving investors a consistent framework across markets and structures.
Access
Relationships across Italy's target markets surface opportunities early, which improves Certosa's entry basis and keeps its options on structure open.
Irreplaceable value, built in sequence
Every opportunity follows a defined four-stage process, from origination to a stabilized asset, giving investors a consistent framework across markets and structures.
Access
Relationships across Italy's target markets surface opportunities early, which improves Certosa's entry basis and keeps its options on structure open.
Irreplaceable value, built in sequence
Every opportunity follows a defined four-stage process, from origination to a stabilized asset, giving investors a consistent framework across markets and structures.
Access
Relationships across Italy's target markets surface opportunities early, which improves Certosa's entry basis and keeps its options on structure open.
Irreplaceable value, built in sequence
Every opportunity follows a defined four-stage process, from origination to a stabilized asset, giving investors a consistent framework across markets and structures.
Access
Relationships across Italy's target markets surface opportunities early, which improves Certosa's entry basis and keeps its options on structure open.
Certosa’s mandate
Our strategy at a glance
Assets
Established luxury hotels, resorts, villas, and hospitality-led buildings
Assets
Established luxury hotels, resorts, villas, and hospitality-led buildings
Markets
Seven protected destinations, from Cortina to Sicily
Markets
Seven protected destinations, from Cortina to Sicily
Markets
Seven protected destinations, from Cortina to Sicily
Entry
Off-market, through direct relationships
Entry
Off-market, through direct relationships
Value Creation
Operator selection, capital investment, revenue management, and distribution
Value Creation
Operator selection, capital investment, revenue management, and distribution
Value Creation
Operator selection, capital investment, revenue management, and distribution
Structures
Full ownership, joint venture stakes, and long-term leaseholds
Structures
Full ownership, joint venture stakes, and long-term leaseholds
Development
Opportunistic and ground-up, with permits already in place
Development
Opportunistic and ground-up, with permits already in place
Development
Opportunistic and ground-up, with permits already in place
Target markets
Enduring demand in a mature market
Structurally limited supply
Heritage law, geography, and zoning safeguard the value of established assets.
Structurally limited supply
Heritage law, geography, and zoning safeguard the value of established assets.
Structurally limited supply
Heritage law, geography, and zoning safeguard the value of established assets.
Scarce luxury inventory
Demand for five-star hospitality exceeds the rooms available, leaving space for new luxury properties.
Scarce luxury inventory
Demand for five-star hospitality exceeds the rooms available, leaving space for new luxury properties.
Scarce luxury inventory
Demand for five-star hospitality exceeds the rooms available, leaving space for new luxury properties.
Demand already proven
Overnight stays have risen year after year in each of Certosa's target markets.
Demand already proven
Overnight stays have risen year after year in each of Certosa's target markets.
Demand already proven
Overnight stays have risen year after year in each of Certosa's target markets.
A clear catalyst
Major events and office-to-hotel conversions give these markets fresh momentum.
A clear catalyst
Major events and office-to-hotel conversions give these markets fresh momentum.
A clear catalyst
Major events and office-to-hotel conversions give these markets fresh momentum.
8th
largest economy in the world, with €2.1 trillion in GDP
€2.5B
invested in Italian hospitality in 2025, up from €1.4B in 2023
Source: Cushman & Wakefield, Italy Hospitality Marketeat
62
UNESCO World Heritage Sites, more than any other country