Sep 2026
Invel Real Estate and YellowSquare power-up platform expansion with four new locations across Italy
Milan, 24 September 2026 – Invel Real Estate, a leading player in the real estate private equity market, and YellowSquare, one of Europe’s fastest-growing urban hospitality operators, have accelerated the growth of their joint platform across Italian gateway cities.
New acquisitions in Bologna, Milan and Venice, representing a combined investment in excess of €75 million, are joined by a landmark long-term lease in Naples. Together, the four assets will take the YellowSquare platform to approximately 3,300 beds. Works are already underway in Bologna and Naples, while Milan and Venice are set to follow shortly, marking one of the most significant steps yet in further consolidating YellowSquare’s position as one of Southern Europe’s leading hybrid hospitality platforms.
This growth builds on the strategic joint venture between Invel and YellowSquare, launched in January 2025, which set the foundations for the platform’s ambitious expansion plan. Having grown to approximately 1,200 beds across existing operational assets in Rome, Milan, Florence and Athens, YellowSquare has now taken its most significant expansion step to date. This momentum is underpinned by strong operational performance: on-the-books revenues across YellowSquare’s Italian properties are currently running approximately 6% ahead of the same period last year. Including the contribution from YellowSquare Athens, the Group is forecasting year-on-year revenue growth of approximately 24% – reflecting strong demand across both leisure and community-driven hospitality segments.
Bologna — Via Montebello
In Bologna, one of Italy’s most vibrant university and cultural cities, Invel has completed the acquisition of a new asset at Via Montebello, where works have already commenced. The project will contribute to the ongoing regeneration of the surrounding area and will deliver approximately 5,000 sqm. of mixed-use space by the end of 2027. The property will combine accommodation with co-working, staff housing, food and beverage, and community spaces accessible to both guests and locals.
Milan — Via Melchiorre Gioia
Invel has completed the acquisition of a new asset at Via Melchiorre Gioia in Milan, Italy’s largest and most dynamic urban market. The property, spanning approximately 6,000 sqm., is expected to open in 2028. The asset will be developed and operated under the YellowSquare concept, reinforcing the platform’s presence in a city where demand for modern, design-led hospitality and flexible accommodation continues to outpace supply.
Venice — Via Fratelli Bandiera
Invel has completed the acquisition of the former Officine Galileo complex in Via Fratelli Bandiera, Venice Marghera, marking a further milestone in the expansion of the joint platform.
The project spans ca. 7,000 sqm. and will combine accommodation with food and beverage, co-working, event and community spaces designed for both travellers and local residents.
Located at the mainland gateway to Venice, the new YellowSquare will extend the platform into one of Europe’s leading international destinations while contributing to the continued transformation of Marghera into a more connected and vibrant urban district.
Naples — Palazzo della Zecca
YellowSquare has signed a long-term lease agreement for the former Palazzo della Zecca, a landmark heritage asset of significant historical and architectural value located in the Pendino district, in the heart of Naples.
The redevelopment initiative was developed by YellowSquare in collaboration with Naples-based architect Diego Marotta and will transform the ca. 5,000 sqm. property into a contemporary urban piazza featuring accommodation, co-working areas, event spaces and a communal kitchen, with a courtyard and rooftop terrace open to both travellers and the local community.
Gabriele Magotti, Chief Investment Officer, Invel Real Estate, said:
“Today’s announcement reflects the momentum we have built since launching our partnership with YellowSquare and reinforces our conviction in building scalable, vertically integrated platforms at the junction of real estate and operations. Hybrid hospitality is a prime example of this thesis: it is not simply about owning buildings, but backing the right concept and the right team, with a genuine ability to blur the line between travellers and locals. We are building a platform with real scale and genuine operational excellence at its core, and we are thrilled with both the pace of growth and the quality of the assets we are assembling.”
Fabio Coppola, Founder & Chief Visionary Officer, YellowSquare, said:
“People often describe YellowSquare as a hostel brand, but it’s not a simple hostel. For us, hospitality means creating places where people who would never normally meet can share experiences, ideas and opportunities, much like the piazzas that have always anchored Italian cities. Every YellowSquare starts with a building, but our ambition is for it to become part of the social fabric of the city. Together with Invel, we are building much more than a hospitality platform: we are creating a network of contemporary piazzas across Europe.”
