Luxury hotel chain Belmond puts Masseria Le Taverne in Ostuni up for sale

Another major deal could soon be on the cards in the luxury hotel property market. The bidding process for the acquisition of Masseria Le Taverne, Belmond’s resort in Ostuni – one of the most exclusive properties in the Apulian hospitality sector – has now entered its decisive phase. According to market sources, Belmond – the high-end hospitality company controlled by luxury giant LVMH – has reportedly appointed Cushman & Wakefield to handle the sale of the property.

The property adviser is reportedly now in the process of selecting investors interested in a deal which, according to initial valuations, could be worth between 50 and 60 million euros. The sale is said to be taking place through an off-market process that has already attracted potential buyers. Expressions of interest have not been long in coming: there are reportedly at least twenty bids on the table from funds and international operators in the luxury hospitality sector, confirming the growing appeal that Puglia continues to hold for investors in the sector.

Acquired by Belmond in 2021, Masseria Le Taverne marked the company’s entry into and first investment in Puglia. The property is situated in the district of the same name, between the historic centre of Ostuni and the seaside resort of Rosa Marina. Formerly owned by the family of Umberto Veronesi, the project involved transforming the farmhouse into one of the first ultra-luxury resorts on the Ostuni coast, with the creation of around 20 suites. The complex comprises a historic tuff building dating back to the 17th century and an estate of around 25 hectares, featuring Mediterranean gardens and centuries-old olive groves.

The location is one of the asset’s key strengths: a short distance from both the sea and the White City. The profile of interested investors suggests that the property will retain its focus on high-end hospitality, in line with the repositioning that has taken place in the area’s accommodation sector in recent years. According to sources close to the matter, the sale is not driven by any issues with the asset itself, but by a strategic decision: Masseria Le Taverne does not, in fact, fully fall within the scope of Belmond’s core investment portfolio.