Pygmalion Capital Advisors, a London-based investment firm, has acquired a portfolio of two hotels in Florence. The value of the transaction has not yet been revealed.
The portfolio consists of 333 rooms in total and includes the 212-key Hilton Florence Metropole and the 121-key Hilton Garden Inn Florence Novoli.
The two hotels, both of which will keep the Hilton brand, have been acquired as a portfolio of NPL.
Pygmalion closed its Pygmalion European Opportunistic Hotel Fund II last February of the current year.
In Florence, the assets transacted are the only two Hilton Group properties under the “Hilton” and the “Garden Inn” brands (both by Hilton). The hotels are managed through an MCA.