Unipol Seeks Buyers for Hotel Chain, Shortlist Includes Three Major American Funds
April 4, 2025 – Milan, Italy – Unipol Gruppo S.p.A., a leading Italian insurance conglomerate, is reportedly preparing to sell its hotel chain, Una Hotels, as part of a strategic reshaping of its portfolio. The move is set to attract considerable attention from major investors, with a shortlist of three prominent American investment firms emerging as potential buyers. The sale, which could be valued at up to €1 billion, has already garnered significant interest from global players in the hospitality and real estate sectors.
According to sources close to the deal, Unipol has enlisted Goldman Sachs to advise on the divestment process. The sale of Una Hotels, which consists of a portfolio of mid-range hotels primarily located across Italy, is seen as a major step in the group’s ongoing focus on its core insurance and financial services operations. Unipol has been gradually shifting away from its non-core assets in recent years, and the potential sale of Una Hotels is seen as a logical next step in this strategy.
The shortlist of potential buyers for the hotel chain includes three well-established American investment firms: Blackstone, Starwood Capital, and Sixth Street. All three firms are recognized for their substantial real estate portfolios, particularly in the hospitality sector, making them strong contenders in the competitive bidding process.
Blackstone – A global leader in private equity and real estate investment, Blackstone is no stranger to large-scale acquisitions in the European hospitality market. The firm’s extensive portfolio includes several high-profile hotel assets across Europe, and it has been actively expanding its investments in the region.
Starwood Capital – Known for its expertise in real estate and hospitality investments, Starwood Capital has a global footprint and is highly regarded for its ability to manage and reposition hotel assets. The firm’s investments span a wide range of hotel types, from luxury to mid-range properties, making it a natural fit for the Una Hotels portfolio.
Sixth Street – A leading investment firm with a strong track record in European hospitality investments, Sixth Street has been active in both debt and equity transactions in the sector. The firm’s interest in Una Hotels reflects its ongoing strategy to capitalize on opportunities in the hospitality market, particularly in Italy, which remains a key destination for both leisure and business travel.
Sources indicate that the process is still in its early stages, with non-binding expressions of interest expected in the coming weeks. Unipol’s decision to explore the sale of Una Hotels is part of its broader efforts to streamline its operations and focus on higher-growth areas of its business. The potential deal would mark a significant reshaping of Unipol’s real estate assets, further distancing the group from its hospitality ventures.
Industry analysts are closely watching the developments, with many viewing the sale as a reflection of the broader trends in the European hotel market. The impact of the COVID-19 pandemic, as well as changing travel patterns and the growing dominance of online travel platforms, has led many hotel owners to reconsider their portfolios and divest non-strategic assets.
While Unipol has not officially confirmed the terms of the sale, the involvement of high-profile American investment firms signals that the Una Hotels chain is likely to attract strong interest from global investors. The final outcome of the sale will depend on the outcome of the bidding process, which is expected to take several months to conclude.
For now, all eyes are on the three American funds in the running to acquire Una Hotels, as the hospitality market looks set for another major reshuffling.
About Unipol Gruppo S.p.A.
Unipol Gruppo S.p.A. is one of Italy’s largest insurance and financial services groups, with a diversified portfolio that includes both insurance and real estate assets. The company has been active in reshaping its business strategy in recent years, focusing on its core insurance operations while divesting non-core assets such as its hospitality properties.
