Already well established in the City of the Doges via his Lvmh group with several assets (Cipriani hotel, Dfs luxury department store and Venice-Simplon-Orient-Express train), billionaire Bernard Arnault is said to have expressed an interest in the Venetian Bauer hotel. The hotel had previously belonged to the Signa real estate group, which was in the process of being dismantled following its bankruptcy.
For Bernard Arnault, all roads lead to…Venice!
According to Bloomberg, the founder of the Lvmh group is one of the candidates for the takeover of the Hotel Bauer, an emblematic 5-star establishment in the City of the Doges.
The hotel on the Grand Canal, dating back to 1880, was one of the many assets of the Austrian Signa group, which has been forced to dismantle since its bankruptcy in December 2023.
Last April, Signa Prime Selection AG, the real estate group’s subsidiary, had initially reached an agreement with Schoeller, a German family-owned industrial group, to sell it (among other things) the Hotel Bauer.
Numerous candidates for the takeover
However, the announcement of the transaction alerted King Street Capital Management. Signa’s creditor, this hedge fund has exercised its rights to take control of the asset.
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Read also > POMELLATO SUPPORTS THE RENOVATION OF A VENETIAN PALACE-MUSEUM
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