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http://www.traveldailynews.com/pages/show_page/18783 printed on Thursday, November 20, 2008

Molinaro Koger closes multi-million transaction for resort in Sardinia
Acting on behalf of LB FV LLC, a subsidiary of Lehman Brothers, hotel real estate advisory, brokerage, and capital markets firm Molinaro Koger (MK) sold the 758-room, beach-front Forte Village Resort in Sardinia. Forte Village was purchased by Italian private real estate fund, FIMIT sgr for €312 million.

“This was a rare opportunity to acquire one of the world’s leading resorts at a time when new markets are opening up for Sardinia in northern and eastern Europe,” said Eric Kudlak, managing director, Europe, Molinaro Koger, who structured the sale.

In the past five years, Forte Village has experienced exceptional increases in ADR of 15.8 percent and in RevPAR of 3.3 percent. Italians account for 44 percent of guests, with more than 50 percent repeat business. Visitors from the United Kingdom account for 21 percent of total demand, a figure forecast to increase due to an increased number of direct flights.

There are a limited number of luxury hotels on the island, with the majority found in the north, at least four hours from Forte Village. According to Smith Travel Research, the resort has consistently out-performed competitor hotels in occupancy, ADR and RevPAR. Rania Deimezi - Monday, July 02, 2007