Beach Point Capital Lends $190 Million to Boost Cipriani's Global Luxury Hospitality Growth
In a significant move for the luxury hospitality industry, Beach Point Capital Management LP has facilitated a massive $190 million financing for Cipriani, aiding their expansion efforts across the globe. This financial backing is instrumental as Cipriani embarks on the ambitious journey of developing various high-profile properties, one of which is the Cipriani Resort, Residences, and Casino in Punta del Este, Uruguay, a project projected to exceed $500 million.
Cipriani, an internationally recognized hospitality brand, boasts an array of luxury establishments, including exclusive restaurants, private clubs, landmark event venues, hotels, and residences located in famous cities such as Venice, New York, London, and Dubai. Notably, the Punta del Este project will feature a luxurious oceanfront resort complete with a hotel housing 64 suites initially, with plans to add another 120 suites in the subsequent phases. The project will also include 68 residential units, the first Cipriani Casino, a private beach club, and high-end boutiques, enhancing the allure of this exquisite location.
Michael Haynes, Beach Point's Head of Private Credit, expressed enthusiasm regarding the partnership with Cipriani's team, stating that the financing was uniquely tailored to meet their capital requirements and support the brand's growth, reflecting their strength in the luxury market. He emphasized Beach Point's extensive experience in the hospitality sector and their creativity in structuring this deal to cater to Cipriani’s ambitious plans.
CEO Giuseppe Cipriani highlighted the importance of this partnership, indicating the financing will play a pivotal role in accelerating Cipriani's expansion endeavors. He praised Beach Point’s collaborative approach and sector expertise, which he believes makes them the perfect financial partner for the company during this transformative phase, particularly for the Punta del Este project set to welcome guests next year.
Beach Point Capital is known for its multi-strategy investment approach, focusing on private equity, credit, real estate, and structured products. As of March 31, 2025, the firm managed approximately $19.3 billion in assets under management (AUM) for primarily institutional clients. Headquartered in Santa Monica, California, Beach Point has additional offices in New York, London, and Dublin.
On the other hand, Sparta Capital Management Ltd, a co-managing entity of the funds involved in this loan, specializes in various investment strategies, holding approximately $550 million in AUM as of March 31, 2025. Their involvement signifies a strong financial backing for Cipriani's expansive plans.
Cipriani's history dates back to May 13, 1931, when Giuseppe Cipriani opened Harry’s Bar in Venice — an establishment that has become a national landmark and a favored haunt for a diverse clientele, from Hollywood stars to royalty. This rich heritage of over 90 years has seen the Cipriani family transform into a globally recognized hospitality brand, characterized by their dedication to service excellence, quality, and simplicity.
The company continues to flourish, expanding its footprint with new locations in prime urban environments, adding to its portfolio of upscale restaurants and luxury venues worldwide, including upcoming projects in Batumi, Georgia, and other cities around the globe. Their commitment to timeless values has enabled them to maintain a distinctive identity while fostering growth within the highly competitive luxury hospitality market.
Cipriani, an internationally recognized hospitality brand, boasts an array of luxury establishments, including exclusive restaurants, private clubs, landmark event venues, hotels, and residences located in famous cities such as Venice, New York, London, and Dubai. Notably, the Punta del Este project will feature a luxurious oceanfront resort complete with a hotel housing 64 suites initially, with plans to add another 120 suites in the subsequent phases. The project will also include 68 residential units, the first Cipriani Casino, a private beach club, and high-end boutiques, enhancing the allure of this exquisite location.
Michael Haynes, Beach Point's Head of Private Credit, expressed enthusiasm regarding the partnership with Cipriani's team, stating that the financing was uniquely tailored to meet their capital requirements and support the brand's growth, reflecting their strength in the luxury market. He emphasized Beach Point's extensive experience in the hospitality sector and their creativity in structuring this deal to cater to Cipriani’s ambitious plans.
CEO Giuseppe Cipriani highlighted the importance of this partnership, indicating the financing will play a pivotal role in accelerating Cipriani's expansion endeavors. He praised Beach Point’s collaborative approach and sector expertise, which he believes makes them the perfect financial partner for the company during this transformative phase, particularly for the Punta del Este project set to welcome guests next year.
Beach Point Capital is known for its multi-strategy investment approach, focusing on private equity, credit, real estate, and structured products. As of March 31, 2025, the firm managed approximately $19.3 billion in assets under management (AUM) for primarily institutional clients. Headquartered in Santa Monica, California, Beach Point has additional offices in New York, London, and Dublin.
On the other hand, Sparta Capital Management Ltd, a co-managing entity of the funds involved in this loan, specializes in various investment strategies, holding approximately $550 million in AUM as of March 31, 2025. Their involvement signifies a strong financial backing for Cipriani's expansive plans.
Cipriani's history dates back to May 13, 1931, when Giuseppe Cipriani opened Harry’s Bar in Venice — an establishment that has become a national landmark and a favored haunt for a diverse clientele, from Hollywood stars to royalty. This rich heritage of over 90 years has seen the Cipriani family transform into a globally recognized hospitality brand, characterized by their dedication to service excellence, quality, and simplicity.
The company continues to flourish, expanding its footprint with new locations in prime urban environments, adding to its portfolio of upscale restaurants and luxury venues worldwide, including upcoming projects in Batumi, Georgia, and other cities around the globe. Their commitment to timeless values has enabled them to maintain a distinctive identity while fostering growth within the highly competitive luxury hospitality market.
Topics Entertainment & Media）
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