Mohari Hospitality has announced the acquisition of the historic Bauer hotel in Venice in partnership with Omnam Investment Group for a price believed to be around €300 mln.
Hotel Bauer is located in the heart of Venice and is considered one of the city’s architectural treasures, embodying Venetian medieval Mannerism of the late 19th century. The property is located on the Grand Canal, in the historic San Marco district, just steps from the famous Piazza San Marco. Under its new ownership, the property will undergo an extensive restoration to recapture its grandeur as a symbol of Venetian elegance.
The property was sold by owner King Street through Eastdil Secured. King Street took over the asset earlier this year after previous owner Signa went into administration.
'Our vision for Mohari is to build a portfolio of unparalleled luxury hotel destinations, defined by iconic locations, heritage value and exceptional guest experiences. The legendary Bauer Hotel perfectly embodies this vision,' said Mark Scheinberg, founder and director of Mohari Hospitality. 'The Bauer is truly irreplaceable and sits in a prominent position in the beautiful city of Venice. We are proud to have the opportunity to preserve and elevate this extraordinary jewel, honoring its legacy and transforming it into one of the most prestigious hotels in Europe.'
Rosewood Hotels & Resorts will cooperate in designing and restoring the asset.
Mohari and Omnam were advised by Kryalos SGR, DLA Piper, Deloitte, Eastdil Secured, CBRE and Cushman & Wakefield.
