Reuben Brothers has completed the acquisition of Capri’s first and oldest property, Hotel La Palma. 

The private equity and real estate investment firm confirmed it plans to extensively refurbish the 72-room hotel “to enhance both the charm and level of luxury offered by this historic establishment”.

The acquisition also includes renowned nightclub La Taverna Anema e Core, which has reportedly hosted celebrities including Beyonce, George Clooney and Jennifer Lopez.

It’s the latest addition to Reuben Brothers’ pipeline of hotel investments and developments in the UK and Europe, which include London, Ibiza, Venice and Verbier.

Last October, the firm acquired a historic property in the centre of Rome in conjunction with Corinthia Hotels and, last week, the 30-bedroom La Residence in Kalafatis Bay, Mykonos. 

“By acquiring Hotel La Palma we are delighted to add such an iconic property to our growing hotel portfolio so soon after our acquisitions in Rome, Mykonos and Ibiza,” said Jamie Reuben, a principal at Reuben Brothers.

“We aim to restore and enhance this wonderful hotel to be perfectly positioned to provide guests an exceptional Capri experience.”