BNP Paribas REIM and QC Spa of Wonders launch hospitality partnership

BNP Paribas REIM and QC Spa of Wonders have partnered to expand in the wellness and hospitality sector.

Vincenzo Nocerino

BNP Paribas REIM manages approximately €1 bn in European real estate assets in the sector, particularly resorts and outdoor hospitality through its Plein Air Property Fund 1.
QC Spa of Wonders currently operates 12 spas and hotels and plans four new openings in Italy.
The collaboration centres around the Spa Property Fund (SPAPF), a real estate fund managed by BNP Paribas REIM Luxembourg, with QC Spa of Wonders as the exclusive operator.
SPAPF recently acquired a property in Milan to transform into a spa and hotel managed by QC Spa of Wonders, building on its initial purchase of the QC Terme San Pellegrino property.
SPAPF's objective is to establish a platform specializing in spas and spa-hotels exclusively leased to QC Spa of Wonders. The fund invests in both existing properties and properties slated for repositioning, supporting QC Spa of Wonders' growth strategy.
With around €120 mln in assets acquired and planned investments, SPAPF aims to build a portfolio valued at €300 mln.
QC Spa of Wonders has become a significant investor in SPAPF, which is now open to other professional investors interested in the hospitality sector.
Francesco Varni, CEO & Corporate Activities and Development of QC Spa Of Wonders, said: "After extensive research conducted with our partners at White Bridge Investment, we believe we have found the ideal partner to support and accelerate our growth in Italy and throughout Europe. We are leaders in a dynamic and rapidly growing market, and we firmly believe in the appeal of Spa Property Fund to a wide range of investors."
Vincenzo Nocerino, global CIO of BNP Paribas REIM, added: "We are thrilled to partner with QC Spa of Wonders, a leading player in the spa and wellness hospitality sector. We strongly believe in the fundamentals and growth of the sector, as experience-based consumption, especially post-pandemic, is increasingly favored by consumers. We are confident this strategy will be attractive and appreciated by many other investors."