Bain Capital and Omnam Group Sell Lake Como EDITION Hotel to Sansiri Capital in Trophy Hospitality Exit

LONDON — Bain Capital and Omnam Group have agreed to sell The Lake Como EDITION to Sansiri Capital, completing a full-cycle repositioning of a 19th-century lakeside palazzo in Cadenabbia, Italy, into one of the country's newest five-star hospitality destinations. The transaction, announced Sept. 3, 2026, is expected to close within the next several weeks, subject to customary closing conditions and required third-party approvals.

Sansiri Capital is the hospitality trophy-asset investment arm of Sansiri Public Company Limited, a Thai real estate developer with more than 40 years of operating history. The acquisition represents Sansiri's strategic entry into European luxury hospitality.

A Distressed Asset Transformed

Bain Capital and Omnam Group acquired the property — formerly known as the Hotel Britannia Excelsior — in October 2021 under a fund managed by Kryalos SGR. The historic palazzo sits at Via Regina 41, 22011 Cadenabbia di Griante, on the western shore of Lake Como, directly opposite Bellagio and approximately one hour from Milan and Malpensa International Airport.

Redevelopment began in April 2022. The partners reduced the former hotel's room count from nearly 300 keys to 148 larger rooms and suites and added a new spa and wellness building, a floating outdoor pool, a beach club, and an expanded food-and-beverage offering. The property achieved LEED Gold certification during the process. The Lake Como EDITION opened in March 2026 as part of Marriott International's EDITION Hotels portfolio.

The redevelopment brought together an international roster of collaborators: Neri&Hu led the interiors alongside De.Tales; Michelin-starred chef Mauro Colagreco shaped the culinary programming across four venues; The Longevity Suite developed the wellness programming; and art was curated by Visto. Marriott International operates the property under the EDITION brand.

What the Sellers Said

Ali Haroon, a Partner and Head of Europe Real Estate for Bain Capital, said the transaction illustrates the firm's approach to the region. "We focus on sectors supported by long-term structural demand and opportunities where our capital, local relationships and hands-on capabilities can fundamentally transform an asset," Haroon said. "Together with Omnam, we have taken a highly underinvested property in an irreplaceable location and created a contemporary luxury destination for the international market."

Rafael Coste Campos, a Partner on the Bain Capital Europe Real Estate team, pointed to the timing of the original acquisition. "The Covid dislocation gave us a rare window to acquire exceptional properties in supply-constrained European leisure destinations, including Lake Como," Coste Campos said. "Backed by conviction in the demand/supply imbalance and strong secular tailwinds, we bought at the point of maximum uncertainty and built a trophy asset at a good basis. Together with our partners at Omnam, we executed full-cycle: new operator, full repositioning, heavy capex, culminating in a record sale for the brand."

Robert Mangan, an Operating Partner at Bain Capital, added: "Bringing together Marriott's EDITION brand and an exceptional group of partners has allowed us to realize that original vision and create an asset that is genuinely differentiated within the Lake Como market."

David Zisser, CEO and Founder of Omnam Group, described the project as an ambitious undertaking from the outset. "Our vision was to take a remarkable historic property in one of the world's most iconic destinations and give it new relevance through architecture, design and hospitality, while remaining deeply connected to the character of Lake Como," Zisser said. "The completion of this transaction is a significant milestone for Omnam and a testament to the strength of our development approach, while marking the beginning of an exciting new chapter for The Lake Como EDITION."

Sansiri's European Expansion

For Sansiri Capital, the acquisition is framed as a key step in the company's "New S-Curve" strategy, which targets ultra-luxury trophy assets in gateway cities and high-demand leisure destinations. Napat Thavisin, President of International Operations at Sansiri Public Company Limited and Managing Director of Sansiri Capital, said the deal strengthens the firm's financial resilience and diversifies risk across its global hospitality portfolio.

"We remain focused on ultra-luxury trophy assets in gateway cities and high-demand leisure destinations — markets characterised by robust demand and inherently constrained supply," Thavisin said. "This disciplined capital-allocation approach is designed to maximise long-term shareholder value."

Thavisin noted that Sansiri's international track record includes The Manner SoHo in New York and its involvement in the growth of Standard International prior to that brand's acquisition by Hyatt Hotels Corporation. The firm said it intends to continue pursuing trophy-asset investments in premier leisure and gateway destinations worldwide through Sansiri Capital.

Market Context and Broader Implications

The Lake Como transaction is structured as a rapid stabilization-and-exit: Bain Capital and Omnam acquired the asset in late 2021, completed a comprehensive redevelopment, opened the hotel in March 2026, and are now monetizing the repositioned property within months of its debut. The original investment thesis centered on strong international leisure demand, limited five-star supply on the lake, and significant barriers to new waterfront development — conditions that remain intact.

Italy ranks as the most attractive destination in Europe for hotel investment in 2026, according to Cushman & Wakefield, which assigned the market an attractiveness score of 4.2 out of 5 and found that 86% of investors expect to deploy capital equal to or greater than 2025 levels. Broader European hotel fundamentals remain supportive for upper-upscale and luxury assets, with CBRE projecting RevPAR growth of approximately 1% to 3% across the continent in 2026, with luxury properties retaining stronger pricing power in gateway and destination markets.

The sale also reflects Bain Capital's active posture in European hospitality. The firm invested in Les Hôtels de Paris, a portfolio of 18 hotels concentrated in the French capital, in September 2025, and sold the 181-room Cora Resort and Spa in Greece to Fattal Hotel Group in January 2026. Bain also agreed to acquire the 957-key Pullman Paris Montparnasse in 2025, reinforcing its strategy of targeting large, differentiated hospitality assets in supply-constrained European markets.

For Omnam Group, the Lake Como exit comes as the firm advances a pipeline of projects in Florence, Venice, Puglia, and Sicily, each focused on repositioning distinctive properties into lifestyle destinations. The group's existing portfolio includes Four Seasons Puglia.

Sources

Bain Capital Real Estate — Official Announcement