Cedar Capital Partners and L Catterton Real Estate announced the launch of a strategic joint venture to build a leading luxury hospitality platform across Europe and North America.
The partnership will pursue a value-add investment strategy focused on the acquisition, transformation and repositioning of iconic five-star and luxury hotels in prime urban and resort destinations.
The platform is designed to capitalize on strong secular growth in global luxury travel demand and a structural supply-demand imbalance in the high-end hospitality segment. The joint venture aims to assemble a curated portfolio of 10–15 landmark assets.
Mathieu Le Bozec, managing partner and founder of L Catterton Real Estate, said, “We see a compelling opportunity to build a differentiated luxury hospitality platform by combining our deep consumer insight and real estate capabilities with Cedar’s sector expertise. This partnership is well positioned to capitalize on strong tailwinds in global luxury travel and to create significant long-term value through the repositioning of iconic assets in highly sought-after destinations.”
Ramsey Mankarious, founder and chief executive officer of Cedar, added: “We are excited to partner with L Catterton Real Estate to pursue a targeted and scalable strategy in the luxury hospitality sector. With a shared vision and complementary expertise, we believe this platform will enable us to unlock the full potential of unique properties and deliver exceptional experiences for guests in key destinations across Europe and the United States.”
As part of the platform launch, the joint venture has completed its first two acquisitions:
- Garden Beach Hotel, a 177-key beachfront property located in Juan-les-Pins (Antibes, French Riviera). Currently closed, the hotel represents a rare seafront repositioning opportunity and is expected to be redeveloped into one of the Riviera’s flagship luxury destinations.
- Penha Longa Resort, a Ritz-Carlton property, an iconic 204-key luxury resort situated within the Sintra-Cascais Natural Park, approximately 25 minutes from Lisbon Airport. Set across a 220-hectare estate, the property features a broad range of amenities, including two championship golf courses, Michelin-starred dining, an award-winning spa and a country club.
