Boutique 30-key mountain lodge at the gateway to Andorra's only UNESCO biosphere reserve, blending contractual income with equity upside.
The opportunity
This project in Ordino is a 30-key boutique mountain lodge positioned at the gateway to the Ordino-Arcalís ski area and Andorra's only UNESCO biosphere reserve. The concept pairs traditional Pyrenean architecture with a refined hospitality programme — destination restaurant, library bar, treatment suite, and ski-in / ski-out access. The hold structure delivers contractual income during the construction phase and equity upside on exit through either institutional sale or refinance at stabilised operating yield.
Why invest
Ordino is Andorra's quietest, most exclusive parish — preferred by international residents seeking discretion and natural surroundings over the busier southern resorts. Hospitality supply at the boutique end remains thin, and the UNESCO designation creates a natural development cap that protects existing operators from over-supply. The combination of construction-phase coupon income and a clear stabilised-yield exit makes this an attractive blended structure.
Deal strengths
Capital deployment
Timeline
Architect due diligence completed
Q1 2026Investor financing open
Q2 2026Financing closed & capital deployed
Q1 2027Project execution
Q1 2027 – Q3 2028Project completion / stabilization
Q4 2028Investor exit & capital return
Q2 2030Liquidity
Primary exit is a trade sale to an institutional hospitality investor in years 4–5, post 12-month stabilisation. A refinance at stabilised yield is held as an alternative path to return investor capital while retaining residual equity.
Compliance & structure. Investment is made via an Andorran SPV with Equity Partners as asset manager. All foreign investment approvals, KYC, AML, and source-of-funds checks are handled by Equity Partners prior to capital call.