Generali RE acquires the Novotel Tower Bridge London and makes its debut in the UK hospitality sector

Generali Real Estate Sgr Spa has completed the acquisition of the Novotel Tower Bridge London through the Generali Real Estate Umbrella Fund – Hospitality Europe Fund, a sub-fund of a pan-European fund incorporated under Luxembourg law specialising in hospitality assets and managed by Generali Real Estate Spa Sgr, acting as investment manager. Following this transaction, Generali Real Estate’s pan-European hospitality portfolio stands at approximately one billion euros.

Located in the heart of the City of London, at 10 Pepys Street and just a stone’s throw from Tower Bridge, the Novotel Tower Bridge London – a 4-star hotel with 203 rooms – also offers a full range of facilities, including a restaurant and a dedicated wellness area, which further enhance its appeal to a wide range of guests.

The property is fully in line with Generali Real Estate’s strategy in the hospitality sector, which focuses on upscale, upper-upscale and luxury properties in major European gateway cities. Generali Real Estate’s hospitality platform comprises a portfolio of 4- and 5-star properties in prime central locations in Milan, Rome, Madrid, Paris, Prague, Venice, Lyon – and now London.

“We are delighted to add the Novotel Tower Bridge London to our portfolio,” said Gabriella Pelosi, Head of Hospitality Sector and Portfolio Management at Generali Real Estate Sgr Spa. London is one of the most liquid and resilient gateway markets globally, and this acquisition provides a solid foundation for the continued growth of our hospitality platform, further expanding its geographical reach beyond our current footprint in Italia, Spain, France and the Czech Republic. “The asset aims to generate recurring income for our investors, with attractive potential for capital appreciation, supported by its strategic location and strong market positioning.”