Fund of Andrey Yakunin will invest €150 million in hotel construction in Italy

Fund VIY Greater Europe Hospitality Fund plans to invest in reconstruction of the medieval Antognolla estate in the Italian Umbria more than €150 million, told “Vedomosti” representative of the Fund.

The representative of Venture Investments & Yield Management (VIYM), which manages the Fund, said that the Fund has acquired a majority stake in the company that owns the reconstruction of the manor. According to the website VIYM, one of the founders of the company is Andrey Yakunin, son of the former President of Russian Railways. On closing of the transaction knows a consultant who works in Umbria and one of the partners VIYM, write “Vedomosti”.

From a report in 2015, which results in data publishing, it follows that the Fund has bought a 12.5% owner of the project of reconstruction of the transaction (value 10.7 million). Reconstruction of the estate, with a castle of the XI century suggests its restoration and modernization. It is planned to make the Golf course with a Spa complex, swimming pools, tennis courts, conference facilities and restaurants on an area of 560 hectares.

In addition, the Fund plans to invest in the construction of a 5-star hotel with 76 rooms and residential complex on 77 houses that will manage the international operator. The Foundation’s representative refused to give his name, but the publication said that, according to the report for 2015, it is said that this operator should be Four Seasons. A request to the company remained unanswered.

Andrey Yakunin, who passed the comment through his representative, has called the concept of Antognolla is unique because “it will be one of the first hotels in Europe, combines a hotel and residential complex managed by an international operator.

VIYM, the representative explained that recently in Umbria growing segment of luxury hotels with hotel market in Italy more resilient during the economic downturn compared to other European countries.