Actively seeking 3- or 4-star hotels in central Lisbon or Athens (also open to Rome and Milan) Open to existing assets or developments completing within 12 months where a forward purchase may be considered. Location: Prime or established central districts only Asset type: 3* or 4* hotel (operational or near-delivery) Yield target: Minimum 6.5% net, subject to asset quality and covenant Deal type: Forward purchase or direct acquisition Only considering credible, well-located opportunities in proven hospitality corridors.