Paval Holding, the investment vehicle controlled by Romanian brothers Dragoş and Adrian Pavăl, -founders of DIY retailer Dedeman- in partnership with Lithuanian hotel operator Apex Alliance, acquired the 5-star hotel complex Waldhaus Flims Wellness Resort in Switzerland for an undisclosed amount, the Swiss municipality of Films said. CBRE Switzerland assisted the seller in this transaction.
Located in Flims-Laax, a popular ski resort in the largest hotel park of Switzerland, the Waldhaus Flims Wellness Resort was built in 1877 and completely renovated in autumn 2016. This landmark property boast six distinct buildings, including The Grand Hotel, The Villa, The Pavilion, and the award-winning 3000 m² Waldhaus Spa, encircled by calming parkland and mountains. The resort also features tennis courts, event spaces and diverse dining options.
With this acquisition, Paval Holding will mark its second high-profile international investment, after buying the historic Grand Hotel Gardone in Italy in 2023. Meanwhile, Apex Alliance has a portfolio of 17 hotels across Europe, representing international brands such as Hilton, Marriott and Radisson as an official franchisee. In 2021, Apex Alliance opened its fifth hotel in the Romanian capital Bucharest, following an investment of €42 million.
The buyers have announced plans for improvements to the iconic resort in the picturesque Swiss Alps with the goal of re-opening it as a luxurious 5-star property and welcoming its first guests as soon as next year. The new investment plan will enhance the resort’s facilities. Waldhaus Flims Wellness Resort is planned to feature 143 rooms and suites, each designed to offer spectacular views and meet the demands of sophisticated travelers.
“As long-term investors, we greatly appreciate the historical significance of the property and its breathtaking natural surroundings. Our goal is to preserve these unique elements while carefully renewing the resort to offer our future guests an outstanding experience, always respecting the hotel’s roots and its importance to the region,” said Dragoș Pavăl, President of Pavăl Holding.
“Acquiring the Waldhaus Flims Wellness Resort is a significant milestone for Apex Alliance. This landmark property will not only strengthen our presence in the European hospitality market, but also set a new standard for luxury and excellence in the Swiss Alps” added Vytautas Drumelis, Partner at Apex Alliance.
Apex Alliance Hotel Management, one of the Apex Alliance group’s companies, has been announced as the official hotel operator. The company’s portfolio will include 19 hotels by Q1 2025, with two new hotels scheduled to open in Venice (Italy) and Tallinn (Estonia).