Jan 2025
Invel partners with YellowSquare to expand hybrid hospitality platform in Southern Europe

The joint venture between the two companies aims to invest €200 million, with the goal of reaching more than 5,000 beds under management across Italy, Spain, Greece and Portugal
Milan, 27 January 2025 – Invel Real Estate, a leading player in the real estate private equity market, has formed a strategic partnership with YellowSquare, the pioneering Italian operator in hybrid hospitality with existing properties in Rome, Milan and Florence. Together, the joint venture is aiming to invest €200 million in acquiring, developing, and managing properties across Italy and other key cities in Southern Europe, with a target of managing over 5,000 beds.
The partnership combines Invel’s extensive expertise in real estate investment and asset management with YellowSquare’s innovative approach to community-driven hospitality. Invel boasts a proven track record in the hospitality sector, managing around 2,000 keys in the Mediterranean region through its vertically integrated operating platform specialising in upscale hospitality and premium residential projects.
YellowSquare, with over 20 years of operational experience, has established itself as a leader in blending accommodation with cultural engagement. Its unique model focuses on creating spaces that foster community and connection, making it particularly appealing to young and international travellers. This expertise will be instrumental in developing a network of hybrid hotels (“squares”) that offer authentic, immersive experiences across premier tourist destinations.
This agreement includes the creation of a new investment vehicle, 100%-owned by Invel, that will acquire and develop new assets in Italy, Spain, Greece and Portugal, transforming them into new YellowSquare-managed facilities. Additionally, Invel will subscribe a capital increase in YellowSquare, becoming a key shareholder in the company. The transaction is expected to close by the end of the first quarter of 2025.
YellowSquare closed FY 2023 with over 100,000 guests and €14.4 million in total revenues, with a 37% year-on-year increase. This performance highlights the brand’s sustained growth and the trust it has earned from both domestic and international guests.
‘The agreement with YellowSquare allows us to address the growing demand for hybrid hospitality solutions in South Europe’s leading tourist destinations’, said Gabriele Magotti, Invel’s Chief Investment Officer. ‘This joint venture marks a milestone in our investment strategy for the hospitality sector, aimed at identifying and developing assets capable of meeting the evolving needs of an international and experience-driven clientele. Furthermore, this partnership allows us to combine YellowSquare’s distinctive operational expertise with our real estate development capabilities, laying the foundation for a leading platform in the Southern European market. We are thrilled to embark on this journey with YellowSquare, whose strategic vision and values align closely with our own.’
‘YellowSquare’s expansion represents a necessary evolution to create a modern ‘squares’ network. In order to realise that, we have partnered with Invel, with whom we strategically share our goals and values,’ affirmed Fabio Coppola, YellowSquare’s Co-founder and Chief Visionary Officer. ‘Our goal has always been to create authentic links between travellers and local communities, transforming each property into a real meeting point, a ‘square’ where people can share experiences, work, have fun and feel part of a global community. Thanks to this partnership, we will be able to expand our network, bringing our hybrid hospitality model to new cities and creating new spaces for all guests seeking a travel experience that goes beyond a simple overnight stay’.
The upcoming openings in Turin, Venice, and Bologna – set to be announced in the coming months – will further solidify YellowSquare brand’s presence across Italy.


