Miami-based investment fund H.I.G. Capital has launched a brand, Ella Hotels & Resorts, which combines several of its affiliates’ hotel industry portfolios. Its initial emphasis is on developing resorts on the Greek islands of Corfu and Rhodes.
The initial value of the new brand is approximately €1 billion ($1.08 billion), according to the firm, which has a global portfolio across all asset classes of approximately $60 billion. The Ella brand starts with 13 hotels representing approximately 4,500 keys.
Through phased development and refurbishment, the “eco-chic” resorts brand plans to open hotels in three other Greek leisure destinations, and look for more opportunities in coastal destinations in southern Europe.
H.I.G. has offices in London, Dubai, Madrid, Milan, Los Angeles, Rio de Janeiro and São Paolo. Its London office operates under the name of H.I.G. European Capital Partners.
In March 2022, H.I.G. provided mezzanine financing of £76 million ($95.55 million) to London-based Shiva Hotels, which at the time had a portfolio that included The Guardsman Buckingham Gate and Middle Eight Covent Garden. Shiva currently is developing its Place III brand, which debuted in September 2023 with its 199-room Bo Tree Hotel in London.
In 2021, H.I.G. Capital bought two hotels in Europe, the former Swissôtel Le Plaza Basel, Switzerland, which is now the 238-room Basel Marriott; and the 170-room Hotel Ullensvang on the fjord of Hardangerfjord, Norway.