UK: Karma Royal Group has acquired three resort destinations, in the UK, Italy and Greece.
UK: Karma Royal Group has acquired three resort destinations, in the UK, Italy and Greece.
The first property is The St Martins Hotel on St Martins in the Isles of Scilly. The hotel will trade for the remainder of the summer season but will close in October for a renovation which will include interiors by Nicky Haslam, two restaurants, a wine bar, a spa and leisure facilities. Karma hopes to reopen the hotel for the 2015 May bank holiday.
The second acquisition is Borgo di Coleoli in Tuscany, a collection of units in a small hamlet in the Tuscan hills, equidistant from Pisa and Florence and surrounded by vineyards.
Lastly, Karma has reached an agreement with the developer of Vilea resort, in the south-eastern tip of Crete, to acquire the unsold inventory. “This part of the island is both unspoilt and stunning and has beautiful fishing villages, stunning coastline and great food and wine,” the company says.
Karma Royal chairman and CEO John Spence said: “We believe that the destinations will be extremely attractive for both our existing owners and for new clients and give us increased exposure, geographical reach and new marketing platforms. They are also all in Europe and continue our strategy of providing high demand destinations for our Asian owner base and marketing pool.”
www.karmaroyalgroup.com
