The owner of the Hotel Danieli in Venice has secured a €330 million financing package with US investment funds King Street Capital Management and Starwood Capital Group.
Italy’s Statuto Group will use the money to renovate the property.
Some reports suggested that the owners were looking to switch brands or even sell the hotel with Four Seasons taking over from Marriott (the hotel is part of the The Luxury Collection brand) but a recent update suggests this is not the case.