Venice San Marco, Italy
Opening
1790
Acquisition
2021
ROOMS
184
lettable area
10,000 sqm
Operator
Bonvecchiati SpA
The Hotel
Situated 150m from Piazza San Marco in the heart of Venice, the Bonvecchiati Ensemble, comprising the Hotel Bonvecchiati and the Palace Bonvecchiati hotel, is perfectly situated in what is a globally established tourism destination and UNESCO World Heritage site. The asset has a long-standing trading history as an independent, family owned quality upscale hotel.
Due to its scale and prime location with direct access by gondola or boat and conveniently located on one of the main pedestrian arteries connecting Piazza San Marco and the equally famous Rialto bridge, the hotel benefits from international demand and offers full service facilities of an upscale hotel including its own canal side terrace restaurant.
The Investment Strategy
- Acquired in 2021 by the ECE European Lodging Recovery Fund
- Significant value creation plan via a “manage-to-core” strategy under implementation:
- Reconfiguration of the buildings to create one single hotel connected on all floors with a single identity, a consolidated back-of-house and new central entrance via the historic courtyard
- Comprehensively renovate front- and back-of house areas including upgrading technical installations, giving consideration to ESG requirements
- Reposition the hotel in the upper-upscale lifestyle segment, a USP in the Venice market for a hotel of this size.
- Transfer the business operations to an internationally branded hotel tenant ensuring professional management, global distribution and income security for the Fund
Address:
Calle Goldoni, 4488
30124 Venezia
Italy
