Mohari Hospitality has acquired the iconic Bauer Hotel in Venice. The acquisition of the luxury hotel marks a significant addition to Mohari’s luxury portfolio in Europe.
Mohari partnered with Omnam Investment Group, its strategic partner in Europe, for the acquisition. With more than a decade of experience in Italy and Europe, Omnam is a real estate investment and development group specializing in transformative hospitality and invests and develops historic and complex projects.
Considered to be one of Venice’s architectural treasures, the Bauer Hotel sits on the Grand Canal in the historic San Marco district, steps away from the Piazza San Marco. The hotel showcases late 19th-century Venetian medieval design elements and will undergo extensive restoration under its new ownership.
The transformation will be led in collaboration with Omnam and Rosewood Hotels & Resorts will operate the hotel.
While Mohari hasn’t officially disclosed the purchase price and seller’s details, the company reportedly offered to acquire the hotel for €309 million, outbidding Arnault, the founder of LVMH Moët Hennessy Louis Vuitton SE. King Street Capital had been running the process to sell the hotel, previously belonging to the Signa real estate empire founded by Rene Benko. The hotel was believed to be undergoing renovations that were halted due to a cash crunch at Signa Prime Selection.
“Our vision at Mohari is to establish a portfolio of unparalleled luxury hospitality destinations defined by iconic locations, heritage value, and exceptional guest experiences. The legendary Bauer Hotel fits perfectly within our vision,” said Mark Scheinberg, founder and principal of Mohari Hospitality. “The Bauer is truly irreplaceable, prominently situated in the beautiful city of Venice. We are proud to have the opportunity to preserve and elevate this extraordinary jewel of a property, honoring its legacy while transforming it to become one of Europe’s most distinguished hotels.”
The Bauer Hotel is the latest addition to Mohari’s growing estate of European properties. The company recently acquired a historic Parisian property, which will be converted into a luxury hotel, as well as purchasing the Four Seasons Hotel in Madrid.
Mohari and Omnam were advised on the acquisition by Kryalos SGR, DLA Piper, Deloitte, Eastdil Secured, CBRE, and Cushman & Wakefield.
