029 Group SE: Limestone Capital Adds Luxurious Sardinian Resort to Portfolio

On March 5, 2024, 029 Group SE, a pioneering hospitality and lifestyle platform, announced that Limestone Capital AG, a portfolio company specializing in alternative asset management within the hospitality and travel sectors, has expanded its Italian presence. The acquisition of a high-end resort hotel in Costa Smeralda, Sardinia, marks a significant enhancement to its burgeoning collection of four hotels across Italy. This strategic move underscores Limestone's dedication to generating value by elevating the property to a contemporary 5-star Aethos hotel, with a focus on improving operational efficiency and profitability.

The resort, slated to open in May 2024, will operate under the Aethos brand, inviting guests to a private retreat within the Mediterranean. It will feature 63 rooms and suites, and its design harmoniously integrates cultural and natural elements, offering amenities such as freshwater pools, a gym, and a culinary experience by ZAÏA Sardinia that merges Mediterranean and Middle Eastern tastes. Wellness and adventure activities will further enrich the guest experience. Astet Studio, based in Barcelona, will oversee the interior design, aiming to respect the original Costa Smeralda architecture while infusing it with a modern, sophisticated aesthetic.

Benjamin Habbel, CEO of Limestone Capital, highlighted this acquisition as a pivotal expansion into Italy, enhancing their European portfolio with another luxurious asset. Jeff Coe, Co-founder of Limestone Capital, also expressed confidence in the European leisure market's long-term potential, emphasizing the acquisition's alignment with their strategic goal of catering to the high demand for leisure travel while demonstrating commitment to Europe's hotel industry.