Greek real estate investor Prodea Investments togther with investment and asset manager Invel Real Estate have acquired the Hotel Bellevue Cortina d’Ampezzo in Italy for €49 mln.
The six-floor building in the centre of the ski resort of Cortina d’Ampezzo, currently split between hotel and private residences, will be redeveloped in time for the 2026 Winter Olympic Games, taking place in Milan and Cortina d'Ampezzo in February 2026.
The transaction was conducted by Prodea (75%) and Invel Real Estate (25%), through the discretionary fund Eudora Fund LP.
Chris Papachristophorou, managing partner and founder of Invel, said: ‘This acquisition is a strong endorsement of our local knowledge and network, enabling us to source unique assets and create value. Our interest in the hospitality sector remains strong for Greece, Cyprus and Italy, where Prodea and Invel have a strong investment focus, and we now have a remarkable opportunity to develop a new luxury hotel in the heart of Cortina d’Ampezzo, ahead of the Winter Olympics 2026.’
The two partners intend to put €25 mln into renovations, creating a five-star luxury hotel with up to 100 rooms.
The food and beverage selection will be upgraded to internationally branded restaurants, establishing the hotel as an F&B destination in Cortina.
Known as the “Queen of the Dolomites”, Cortina is a top-tier ski resort in Northern Italy.
