Ultima Capital, the Swiss developer of luxury property for ultra high net worth millennials seeking "customised and unique experiences", has been listed on the BX Swiss stock exchange, with some CHF50m of private placements linked to the listing involving some 27 international investors and investment funds.
The company owns a portfolio of 32 hotels, residences, chalets, villas and plots across 12 properties; these are targeting users with services such as health & fitness consultations, butlers and chefs, private drivers, housekeeping and concierge services. The Ultima Collection brand is already operational at the Ultima Gstaad Hotel and the Gstaad Residences and includes other private properties in Schönried, Crans-Montana, Geneva, Megève and Courchevel.
Ultima Capital claims total assets of some CHF682m, and total cash of more than CHF115m.
Co-founder Max-Hervé George said: "Since the project started five years ago, Ultima Capital has grown substantially. Today's listing on BX Swiss, marks an important stage in our development and we are delighted to welcome all our new shareholders. Our strong balance sheet, with a low level of debt of 31%, and our current significant total cash availability of CHF115m will underpin our expansion into new locations."
"Our track record with a strong millennial management team shows that we understand the dynamics of this fast-evolving sector. The growth potential for the luxury hospitality market is significant, and we are at the forefront of several major trends that are currently reshaping the sector."
Co-founder Byron Baciocchi added: "Our focus on the wellness segment is also a vital component of our service offer. Ultima's business model reflects today's trends, technologies, brand values, media and the needs of our clients."