ECE Real Estate Partners, SORAVIA and denkmalneu have commenced the €45 million repositioning of the 4-star Bonvecchiati and Palace Bonvecchiati hotels in Venice into one hotel.
The owners, a joint venture led by the ECE Lodging Recovery Fund managed by ECE Real Estate Partners, together with the real estate and hospitality expert SORAVIA as well as denkmalneu, are investing around €45 million in the repositioning works of the historic hotel property. Over the next two years, they will create a 168-room 5-star hotel located off St. Marks Square which will operate under Palladium Hotel Group’s Only YOU brand.
The two hotels will be combined through the redesign of the ground floor which will comprise restaurants, bars, cafes and a bakery. The courtyard, which currently houses technical facilities, will be restored to its Venetian style and will form the main entrance.
The repositioned hotel is scheduled to open in spring 2026.
What they said
Ascan Kókai, principal at ECE Real Estate Partners said: "The total investment volume of almost €150 million in the future Only YOU Hotel Bonvecchiati Venice exemplifies the strategy of the hotel fund managed by ECE Real Estate Partners, which focuses on outstanding locations in growth markets and an active value-add strategy."
Erwin Soravia, CEO of SORAVIA added: "For years, SORAVIA has been focusing on a consistent diversification strategy and growth in the booming hospitality sector. The Hotel Bonvecchiati is one of our most important hotel developments. By carefully preserving the architectural heritage while integrating modern luxury standards, this project creates exceptional experiences for our guests. This is in line with our standards for modern lifestyle hotels."
Thomas Scherer, CEO of denkmalneu added: "The redesign and repositioning of the historic Hotel Bonvecchiati requires the highest level of expertise in project development, mindful revitalization and modern hospitality needs. We are delighted that the joint implementation of this international flagship project with ECE Real Estate Partners and SORAVIA has begun.”