Historic Venetian hotel set for €45m makeover

ECE Real Estate Partners, Soravia, and denkmalneu are investing €45 mln in the repositioning of the asset which dates back to the 1780s

The new hotel is expected to open in spring 2026, operating under the "Only You" brand of the Palladium Hotel Group, and offering 168 luxurious guest rooms.

The project involves merging the existing 4-star Bonvecchiati and Palace Bonvecchiati hotels into a single, contemporary, and opulent property. This extensive reconfiguration will create a more unified guest experience.

Gone are the closed storefronts; instead, a vibrant mix of indoor and outdoor restaurants, bars, cafes, and even a bakery will be open to both hotel guests and the public.

Ascan Kókai, principal at ECE Real Estate Partners, said: ‘The total investment volume of almost €150 mln 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, commented: ‘The Soravia portfolio now comprises more than 6,300 hotel rooms in Austria and internationally, with a further 5,500 hotel rooms under development. 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.’

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.’

The renovation plans prioritize honoring the hotel's rich heritage and its location in the San Marco district. The historic courtyard will be restored to its Venetian style, while the renowned interior designer Lazaro Rosa Violán will craft the design for the hotel rooms and public areas.