Austrian investment firm Signa Group has selected Rosewood Hotels & Resorts hotel chain to manage the Hotel Bauer in Venice.
The property will undergo renovation work, which will see improved catering areas, as well as a luxury retail offering and a new wellness area, aiming to become the biggest and best-in-class in Venice.
Signa bought the hotel from US hedge fund Elliott Management and its co-investment partner Blue Skye Investment Group in June 2020.
CBRE advised Signa on the deal.
What They Said
Giordano Nicoletti, head of operator selection EMEA, CBRE, said: “This deal is confirmation of the significant interest from hotel chains for the Italian Market, especially those operating in the ultra-luxury segment. We believe this trend is set to continue thanks to the high room rates achievable in numerous locations across the country, the low penetration of international brands and the resilience shown by the luxury segment”.