A new fund to be registered in the Isle of Man is hoping to spend half a billion euros on luxury hotels across Europe and America.
Waldeck Capital has launched the Global Hospitality Recovery Fund and is looking for institutional and individual investors.
To minimise risk, Waldeck says the fund will raise capital in a number of currencies to create a balanced portfolio of assets.
It hopes to buy its first hotel either at the end of this year or early next year.
The fund will be registered in the Isle of Man as a Private Discretionary Fund.
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