Andorra • Luxembourg • Spain
About us
BOSCALT is a real estate private equity firm investing in hotels across major European cities. The firm creates substantial value by combining hospitality, real estate, corporate finance and sustainability expertise. BOSCALT Partners is the investment adviser to the BOSCALT Hospitality Fund.
BOSCALT Hospitality Fund is a Luxembourg based RAIF-SICAV. The fund is focused on the upscale to luxury segment of the hotel market, in prime locations of key European cities, requiring a high level of hospitality expertise and resources to deliver long-term value.
Strategic partnership with Edmond de Rothschild
STRONG PARTNERSHIP
Unique partnership leveraging on Edmond de Rothschild’s Private Equity expertise and the BOSCALT Partners’ investment track record in luxury hospitality.
200+ Years
EXPERIENCED TEAM
Established team with recognized international experience in hospitality, real estate, sustainability and financial management.
9 investments
TRACK RECORD
Reputable track record of 9 upscale to luxury hotels in a geographically diversified European portfolio.
The first fund raised EUR 153M of equity and invested EUR 313M in 9 hotel assets across Europe.
Team
Jaume Tàpies
Founding Partner & CEO
30+ experience in hotel management, real estate development, and financial investment, including 8 years as international Chairman of Relais & Châteaux.
Liza masÍas
Founding Partner & COO
20+ years of experience in the management, marketing and financing of international hotels, including 12 years as Business Development Director for Inkaterra Hotels.
Miguel Gonzalez
Partner & CFO
15+ years of extensive experience in the finance industry (investment funds, depositary and banking) in Luxembourg, Latin America and the USA.
Simón Castellá
Managing Partner & CIO
17+ years as Real Estate investment professional including Deutsche Bank,
Lehman Brothers and Banco Sabadell.
Carolina thiede
Partner | Communications & Investor Relations
15+ year experience in corporate communications,
marketing, investor relations and relationship management.
INÉS CHAMARRO
Partner Legal
20+ years of experience in corporate law, acquisitions in hospitality as well as real estate investment and finance transactions.
Strategy
What does Boscalt do and where?
What kind of hotels does Boscalt look for and where?
Market intelligence
In-house
Detailed analysis of target cities and markets
Analysis of specific target city sub-cycles to spot arbitrage opportunities
Identify investment opportunities that fit the strategy
Continual monitoring of target cities through BOSCALT City Attractiveness Index
Hospitality database
Complete list of all the major hotels in Europe updated quarterly
Detailed information on hotels in target cities
Specific market intelligence on independently owned hotel
Database of financial information relating to thousands of European hotel companies
In-house
Detailed analysis of target cities and markets
Analysis of specific target city sub-cycles to spot arbitrage opportunities
Identify investment opportunities that fit the strategy
Continual monitoring of target cities through BOSCALT City Attractiveness Index
Hospitality database
Complete list of all the major hotels in Europe updated quarterly
Detailed information on hotels in target cities
Specific market intelligence on independently owned hotel
Database of financial information relating to thousands of European hotel companies
Industry Knowledge
network
Pipeline
Proactive fieldwork
Regular visits to target cities
Identification of likely targets
Long standing network of industry players including hotel owners, industry advisors, lawyers and financial institutions
Regular events to maintain relationships with long term potential vendors
Target asset
Focus on underperforming assets
Assets requiring CapEx injections
Independent owners and small corporations that are willing sellers
Family ownership structures with succession issues
Owners in financial distress
Pipeline
Proactive fieldwork
Regular visits to target cities
Identification of likely targets
Long standing network of industry players including hotel owners, industry advisors, lawyers and financial institutions
Regular events to maintain relationships with long term potential vendors
Target asset
Focus on underperforming assets
Assets requiring CapEx injections
Independent owners and small corporations that are willing sellers
Family ownership structures with succession issues
Owners in financial distress
Selecting
Screening
Valuation of the existing business model
Evaluation of operator and brand
Assessment of current sales and marketing strategies
Analysis of operations efficiency
Assessment of real estate utilization, efficiency and obsolescence
Evaluation of sustainability
Strategy definition
Selection of the most suitable operator, brand and type of management contract
Identification of a sales and marketing strategy
Projection of cash flows
Identification of scope, amount and timing of the required CapEx
Definition of sustainability program
Screening
Valuation of the existing business model
Evaluation of operator and brand
Assessment of current sales and marketing strategies
Analysis of operations efficiency
Assessment of real estate utilization, efficiency and obsolescence
Evaluation of sustainability
Strategy definition
Selection of the most suitable operator, brand and type of management contract
Identification of a sales and marketing strategy
Projection of cash flows
Identification of scope, amount and timing of the required CapEx
Definition of sustainability program
Acquiring
Deal structuring
Complete due diligence
Perform detailed negotiation including earn-out structures or options (put, call, etc.)
Set-up efficient company and tax structures
Leverage negotiations and hedging strategies
Acquisition
Execution of SPA
Execution of operator and branding agreements
Execution of re-financing
Take-over
Deal structuring
Complete due diligence
Perform detailed negotiation including earn-out structures or options (put, call, etc.)
Set-up efficient company and tax structures
Leverage negotiations and hedging strategies
Acquisition
Execution of SPA
Execution of operator and branding agreements
Execution of re-financing
Take-over
Creating Value
Branding and marketing
Implementing new brands
Advising and validating marketing plans
Supporting operators to define commercial strategies
Maximizing revenue management
Capital expenditure
Defining the necessary upgrades to fit the operator brand standards
Controlling developments and CapEx budgets
Administering reserves
Optimizing property management
Operations
Implementing new operators and processes
Ensuring compliance of lease and management agreements
Enhancing human capital
Driving improved productivity, performance, streamlining cost and maximizing revenue
Reviewing, challenging and approving operating budgets
ESG
Diagnosing the environmental, economic and social sustainability impact
Implementing improved environmental footprint and social impact targets assuring a net economic benefit
Deploying plans and metrics
Monitoring performance
Branding and marketing
Implementing new brands
Advising and validating marketing plans
Supporting operators to define commercial strategies
Maximizing revenue management
Capital expenditure
Defining the necessary upgrades to fit the operator brand standards
Controlling developments and CapEx budgets
Administering reserves
Optimizing property management
Operations
Implementing new operators and processes
Ensuring compliance of lease and management agreements
Enhancing human capital
Driving improved productivity, performance, streamlining cost and maximizing revenue
Reviewing, challenging and approving operating budgets
ESG
Diagnosing the environmental, economic and social sustainability impact
Implementing improved environmental footprint and social impact targets assuring a net economic benefit
Deploying plans and metrics
Monitoring performance
What
LUXURY ★★★★★
UPPER-UPSCALE ★★★★
UPSCALE ★★★
Where
Focus exclusively on prime locations in key European cities.
ESG
Responsible Investment
BOSCALT is an Article 8 hospitality Private Equity and Real Estate Fund in accordance with the SFDR (Sustainable Finance Disclosure Regulation). Such assets provide essential services and need to address the various environmental and social considerations of the communities they serve. We ensure that our stakeholder ́s expectations of well-designed infrastructures that optimize benefits and mitigate adverse effects on their environment, are aligned with ESG risk management and financial performance. This lays the foundation of the environmental and social management system (ESMS) that is put in practice.
Sourcing, Screening and Due Diligence
Evaluation of Environmental policies, potential environmental liabilities and decontamination
Workforce evaluation and definition of a transition action plan for existing workforce
Corporate Management assessment and anticorruption practices evaluation.
Operations:
Refurbishment
Eco-design of the building: selection of low environmental impact materials, enabling optimization of usage and quantities
Ensure selection of subcontractors enforcing socially responsible practices
Supply chain risk management for construction materials
Operations:
Hotel Management
Energy management: type of energy consumed, autonomous building, energy performance, waste management; optimization of samples (3R)
Decent living wage thanks to their work: stability, sufficient hours, decent salary, health and safety, equal treatment, freedom of association, social dialogue, no forced labor
Customer satisfaction and complaint management; Supply chain risk management for consumables, integration within community: mobility and accessibility
ESG
Responsible Investment
BOSCALT is an Article 8 hospitality Private Equity and Real Estate Fund in accordance with the SFDR (Sustainable Finance Disclosure Regulation). Such assets provide essential services and need to address the various environmental and social considerations of the communities they serve. We ensure that our stakeholder ́s expectations of well-designed infrastructures that optimize benefits and mitigate adverse effects on their environment, are aligned with ESG risk management and financial performance. This lays the foundation of the environmental and social management system (ESMS) that is put in practice.
Sourcing, screening
and due diligence
Evaluation of Environmental policies, potential environmental liabilities and decontamination
Workforce evaluation and definition of a transition action plan for existing workforce
Corporate Management assessment and anticorruption practices evaluation.
OPERATIONS:
REFURBISHMENT
Eco-design of the building: selection of low environmental impact materials, enabling optimization of usage and quantities
Ensure selection of subcontractors enforcing socially responsible practices
Supply chain risk management for construction materials
OPERATIONS:
HOTEL MANAGEMENT
Energy management: type of energy consumed, autonomous building, energy performance, waste management; optimization of samples (3R)
Decent living wage thanks to their work: stability, sufficient hours, decent salary, health and safety, equal treatment, freedom of association, social dialogue, no forced labor
Customer satisfaction and complaint management; Supply chain risk management for consumables, integration within community: mobility and accessibility
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