CBRE Appoints Domenico Basanisi as Director, Hotels, Milan
CBRE, the leading global real estate advisor, can today announce the appointment of Domenico Basanisi, Director, to its Hotels team in Milan.
Domenico joins the business from Accor where he was previously Development Manager, responsible for hotels development, asset management and acquisitions stretching across Italy, Greece and Israel.
His role at CBRE will see him focussing on transactions, operator selection and new business. Domenico will directly respond to Francesco Calia, Head of Hotels, Italy, acting as a vital conduit across our 100 strong EMEA team.
Domenico’s will be a fantastic asset to the team. In response to the demand and trading performance of the Italian hotels market, our team in Italy is now over double the size it was a year ago. Domenico is joining at an exciting point in our growth and brings with him his knowledge working with one of the best hotel operators in the world.
I am delighted to be transferring my experience to a team with a great track record, a healthy pipeline of client activity and strong network across EMEA. I am confident the team’s strength and vision will play a leading role in the Italian hotels market over the forthcoming years.
This appointment comes at a time when Italy’s hotels deal volumes have started to gain momentum – Q3 volume have reached €570 million, €20 million above the total year investment volume recorded in 2014. The investment market in 2015, as well as in the past five years, has been dominated by trophy asset transactions (80% of investments).
In this scenario, main investors were represented by Middle East sovereign funds, private equity funds, owner operators and HNWIs. North-American opportunistic capital are starting to favour Italy over Spain, in particular the strong tourism locations of Venice and Rome where robust trading performance has been underpinned by increasingly mobile North American, Northern European and Asian travel markets. Italy has become a main target also for Asian investment funds, looking for prime opportunities in main Italian getaway cities.