Goldman Sachs Asset Management has bought FTC Hotels, the lifestyle hotel franchise collection company which owns the Casa Cook and Cook’s Club brands.
They have been acquired for an undisclosed consideration from Fosun Tourism Group, which acquired them along with the Thomas Cook brand in 2019.
The Casa Cook and Cook’s Club brands feature 16 franchised properties across in the Mediterranean and Red Sea.
Goldman Sachs said its investment will “accelerate” expansion across European destinations, “while remaining loyal to the brands’ founding ethos of creating individual and unique places united by signature luxe-minimalist design and laid-back spirit”.
Launched in 2016 with Casa Cook Rhodes, the Casa Cook collection features five properties, three in Greece – Mykonos, Samos and Rhodes – and two in Egypt – El Gouna and North Coast.
Cook’s Club is aimed at “millennials and cosmopolites who prioritise good times and quality experiences with friends”. It has 11 hotels in Turkey, Greece, Egypt, Spain, and Bulgaria.
Alessandro Dassi, the brands’ managing director, said: “This is an exciting time for both brands and is a move which will enable them to continue to improve the holiday experience of our guests.
“The investment by Goldman Sachs is a testament to the strength of our brands and unique proposition in the growing lifestyle resort market segment.
“Together we will further unlock business value and take the brands to the next level.”
Nabil Aquedim, managing director at Goldman Sachs Asset Management, added: “This investment aligns with our strategy to build a portfolio of differentiated hotels and resorts across the Mediterranean.
“We look forward to working with Alessandro and his team to continue to grow the brands they created across Europe.”
Pictured: Casa Cook Kolymbia Rhodes