Reuben Brothers has acquired one of the vital historic accommodations within the centre of Venice, the Baglioni Luna.
The c. 90,000 sq. foot asset dates from the 12th century and is among the oldest in Venice, with a few of the frescos adorning the San Marco Salon deriving from the scholars of Venice’s foremost 16th century painter Gianbattista Tiepolo.
The five-star 93-room resort is positioned 50 meters from Piazza San Marco, within the historic centre, straight going through San Giorgio Island.
Reuben Brothers and Baglioni Motels & Resorts entered right into a strategic partnership to facilitate the rollout of Baglioni-branded accommodations all over the world.
A part of the settlement foresees the sale and lease again of the long-lasting Baglioni Lodge Luna which turns into Reuben Brothers’ second resort funding in Venice, the place in addition they personal the lately opened Palazzo Experimental, one other boutique property on the Giudecca canal.
Refurbishment works already began with the purpose of opening the renovated Baglioni throughout summer season.
The growth might be managed and developed by Patrimonia Actual Property, who additionally originated and assisted the Reubens on the transaction.
Jamie Reuben defined: “The acquisition of one of many main luxurious accommodations in Venice performs completely into our wider technique and enhances our present portfolio which now additionally contains the well-known La Palma Lodge in Capri.
“The funding additional underlines our perception within the energy of the Venice market.
“We’re additionally happy to work with Baglioni Motels in growing their model into new markets.”
Baglioni Motels & Resort was based in 1974 by Roberto Polito.
