KSL takes controlling stake in Italian hotel chain

Lake Como, Italy. Image © Bruce Meier / Unsplash
An affiliate of Investor KSL Capital Partners has acquired a majority interest in Italian-headquartered hotel firm, Sereno Hotels.

Founded over 20 years ago by the Contreras family, Sereno is the owner-operator of ultra-luxury hotel Il Sereno located on the shores of Lake Como, Italy, and its sister resort, Le Sereno on the beach at Grand Cul de Sac on the Caribbean island of St. Barthelemy.

Founding family investment

The Contreras family will remain significant investors in Sereno, and Sereno’s current team will continue to deliver the service for which the company has become known for over the last two decades. The terms of the transaction were not disclosed.

Luis Contreras, Sereno’s founder and CEO, will continue to lead the company.

Accelerate scale

Contreras said: “Sereno Hotels is at heart a family company. Collaborating with KSL empowers us to accelerate our scale, whilst upholding the ideals and standards that have contributed to our success.

“Our joint vision is to create a select few new small and supremely luxurious hotels in unique locations, featuring remarkable design, meticulous detail, and casual yet professional, bespoke services for our guests. With KSL’s strategic advice and financial support, we aim to offer our guests, and our team, exciting new experiences and prospects.”

Next growth journey

Martin Edsinger, principal at KSL Capital Partners, added: “We are thrilled to have the opportunity to partner with Luis and the Contreras family for the next journey of growth for this remarkable business.

“At KSL, we seek to invest in the unforgettable to create the enduring, something which is core to Sereno’s mission. What Luis and his family have created is unparalleled, and we could not be more excited about what the future will bring for Sereno and to work with a partner that shares our vision and values.”

KSL is also investing in other hotel projects across Europe including the refurbishment of the 42-key Wengener Hof in Bern, Switzerland, expected to complete in Q4 this year; and sites for aparthotel brand Locke such as Locke am Platz Zurich, bringing 80 rooms online in Q4 2023, and the 368-key Locke de Santa Joanna Lisbon, coming to the Portuguese capital in Q1 2024.