SHOWCASE #2 · TROPHY HOSPITALITY & HISTORIC REDEVELOPMENT OM · Milan / Lake Como Corridor & Historic European City Centers

Historic European Palazzo → 42-Key Relais & Châteaux Boutique Hotel & Spa OM

Replaces a static 48-page JLL/CBRE PDF Offering Memorandum with an interactive 3-Act architectural cutaway: animated Neoclassical limestone facade stroke reveal, 3-level vertical peel-back (Subterranean Roman Vault Thermal Spa → Piano Nobile Michelin Courtyard & Suites → Rooftop Orangerie & Penthouse), and live RevPAR/Cap-Rate sensitivity cards.

↗ Launch Full-Screen Live Reference ⚡ Commission a Similar 3-Act Deal Room ← Back to Studio Overview

Switch Live 3-Act Showcase:

SHOWCASE #2 · TROPHY HOSPITALITY & HISTORIC REDEVELOPMENT OM ↗ Open Live Reference Deck

Historic European Palazzo → 42-Key Relais & Châteaux Boutique Hotel & Spa OM

42 Keys / 5,400 m²

17th-CenturyListed Palazzo Conversion

€690 ADR / 74% Occ

Stabilized Year-3 Luxury Comp Set Benchmark

18.4% IRR / 2.1x EM

5-Year Value-Add Business Plan (55% LTV)

4.65% Exit Cap

Prime European Trophy Hospitality Yield

ACT I & II · 3D-TO-SVG LINE ART (img/house.py) & FLOOR-BY-FLOOR CUTAWAY CLICK ANY FLOOR LEVEL

ACT II · ACTIVE FLOOR CUTAWAY INSPECTOR

01 · Vaulted Cellars & Ground Courtyard: Thermal Spa & Michelin Brasserie

1,850 m² · Restored Brick Groin Vaults + Cloister Garden - €4.2M Annual F&B + Non-Resident Membership Spa Revenue

17th-century subterranean stone vaults converted into a 900 m² hydrotherapy circuit and hammam, paired with an all-season glass-roofed central courtyard restaurant.

✅ F&B Seating: 110 indoor/courtyard covers + private wine cellar dining room
✅ Spa Economics: 180 local private members at €4,500/yr + hotel guest yield
✅ Heritage Tax Credit: 35% statutory historic facade & structural restoration credit

ACT III · REGIONAL CATCHMENT, DEMOGRAPHIC & FINANCIAL DATA ANNEX (A1–A12) Audited Census, Eurostat & Cap-Rate Underwriting Cards

ANNEX A1

5-Year Sources & Uses + Debt Sizing Waterfall

€24.0M acquisition + €14.5M hard/soft CapEx & FF&E, financed at 55% LTC green renovation facility (Euribor + 245 bps).

ANNEX A2

Luxury Comp Set ADR & RevPAR Penetration Matrix

Benchmarked against 6 prime 5-star lifestyle properties trading at €660–€820 ADR and 71%–78% occupancy.

ANNEX A3

Soprintendenza Heritage Approval & 18-Month Gantt

Complete structural, MEP, and heritage conservation sign-off secured; 18-month construction schedule to soft opening.

ANNEX A4

Exit Valuation Sensitivity (4.25% – 5.25% Cap Rate)

At Year-5 stabilized NOI of €3.12M, a 4.65% exit cap yields €67.1M gross asset value (2.14x equity multiple).