Seeking beachfront or direct water-access hotels suitable for repositioning into an upper-upscale lifestyle resort with strong F&B and wellness components. Assets must offer genuine waterfront positioning and the ability to create a destination F&B concept (beach club / rooftop / terrace). Locations of Interest: - Spain (Balearics, Costa del Sol) - Portugal (Algarve, Cascais, Silver Coast) - Italy (Sardinia, Italian Riviera) - France (Côte d'Azur) - Greece Keys: 50–90 — Minimum room size 24 sqm Investment Size: €40M–€100M Asset Requirements: - Direct beach / waterfront access - Outdoor areas essential - Beach club / F&B outlet potential - Wellness space feasible (spa, gym, sauna) - Architecturally strong or reposition-able - Prefer operational but underperforming assets - Deal Type: Value-add acquisition (light or full repositioning)