Marriott, Leali family enter joint venture for Lefay portfolio

Marriott (MAR) and the Leali family, founders of Lefay, announced their plans to enter into a joint venture to bring the wellness hospitality brand Lefay into the Marriott portfolio. The Lefay portfolio features two resorts in Lago di Garda and Dolomiti Italy. Additionally, the brand’s pipeline includes three properties under development in Tuscany, Southern Italy, and the Swiss Alps. Lefay’s existing and pipeline resorts will operate under long-term hotel management agreements with the new joint venture, to which Lefay will contribute existing brand and intellectual property assets. The Italian real estate assets will continue to be held by the brand’s founders.