Goldman Sachs Asset Management has acquired FTC Hotels, proprietor of lifestyle brands Casa Cook and Cook’s Club, for an undisclosed amount.
A sparkling ensemble of luxury lifestyle hotels has embarked on a transformative journey under the wing of Goldman Sachs Asset Management. FTC Hotels, the visionary enterprise behind the distinguished lifestyle brands Casa Cook and Cook’s Club, now thrives under the strategic leadership of Goldman Sachs’s Real Estate division.
This portfolio, boasting 16 franchised properties, is studded across some of the most coveted beachfront and sunny locales in the Mediterranean and Red Sea. The undisclosed investment from Goldman Sachs promises to catalyze their expansion across Europe, steadfastly preserving the foundational ethos of the brands – to conceive and curate unique and captivating retreats bound by their signature luxe-minimalist design and a tranquil spirit.
Casa Cook, synonymous with exceptional boutique resorts, satisfies the tastes of an ever-evolving generation of globe trotters. Each Casa Cook property exudes an individualistic charm, adorned with innovative architecture, tailor-made interiors, and location-centric offerings. Having debuted with Casa Cook Rhodes in 2016, the collection now hosts three additional gems in Greece and a pair of resorts in Egypt.
Meanwhile, Cook’s Club takes aim at millennials and cosmopolitan patrons, promising memorable experiences and quality moments. It stylishly blends modern urban lifestyle elements across its 11 locations in Turkey, Greece, Egypt, Spain, and Bulgaria. The brand distinguishes itself with remarkable cuisine, engaging live DJ sets, and sophisticated contemporary design.
Alessandro Dassi, who manages both brands, sees the Goldman Sachs deal as a golden opportunity to enhance the holiday experience of their guests. According to him, the partnership will leverage the brands’ unique propositions in the ever-expanding lifestyle resort market segment, stating, “This is a pivotal moment for both brands, as this development will enhance the guest experience further.
Echoing Dassi’s sentiments, Nabil Aquedim, Managing Director at Goldman Sachs Asset Management, views the investment as an opportunity to build a diverse portfolio of Mediterranean hotels and resorts. He expressed eagerness to work closely with the FTC team to accelerate the expansion of these established brands across Europe, adding “This investment aligns perfectly with our intent to create a portfolio of unique hotels and resorts across the Mediterranean. We are keen to collaborate with Alessandro and his team to cultivate and expand these brands across Europe.”
In conclusion, this acquisition serves as a powerful testament to the dynamism and adaptability of the luxury hospitality sector. With FTC Hotels – renowned for its unique Casa Cook and Cook’s Club brands – becoming part of Goldman Sachs Asset Management’s real estate portfolio, it heralds an era of exponential growth and development. The undisclosed investment underscores not only the financial credibility of the brands but also a vision for enriching the guest experience by retaining their unique ethos and charm.
Furthermore, the move signifies a promising trajectory for the European luxury hotel industry, suggesting rapid expansion and potential untapped opportunities. This isn’t simply an investment; it’s the intersection of two giants committed to fostering growth in the luxury hospitality landscape while preserving their unique identities.
This symbiotic partnership is set to redefine personalized luxury experiences, diversify the European hospitality offerings, and ultimately pave the way for the future evolution of luxury lifestyle hotels.
Christopher Parr, is the Editor and Chief Content Creator for Pursuitist, and a contributing writer to USA Today, Business Insider — and the on-air host of Travel Tuesday on Live at 4 CBS. He is an award-winning luxury marketing veteran, writer, a frequent speaker at luxury and interactive marketing conferences and a pioneer in web publishing. Named a "Top 10 Luxury Travel Blogger” by USA Today, Parr has also been selected as the official winner in Luxury Lifestyle Awards’ 2023 list of the “Top 50 Best Luxury Influencers and Bloggers in the World.”