Published on : Thursday, February 4, 2021
Reuben Brothers has acquired the Baglioni Luna, one of the most historic hotels in the centre of Venice. The 90,000 square foot property dates from the 12th century and is one of the oldest in Venice, with some of the frescos adorning the San Marco Salon deriving from the students of Venice’s foremost 16th century painter Gianbattista Tiepolo. Baglioni Hotels & Resort was first founded in 1974 by Roberto Polito. The five-star 93-room hotel is located 50 meters from Piazza San Marco, in the historic centre, directly facing San Giorgio Island.
Reuben Brothers and Baglioni Hotels & Resorts entered into a strategic partnership to facilitate the rollout of Baglioni-branded hotels around the world. Part of the agreement foresees the sale and lease back of the iconic Baglioni Hotel Luna which becomes Reuben Brothers’ second hotel investment in Venice, where they also own the recently opened Palazzo Experimental, another boutique property on the Giudecca canal.
Refurbishment works has already begun with the aim of opening the renovated Baglioni during summer. The expansion will be managed and developed by Patrimonia Real Estate, who also originated and assisted the Reubens on the transaction. Jamie Reuben said in a statement that the acquisition of one of the leading luxury hotels in Venice plays perfectly into the wider strategy and complements the company’s existing portfolio which now also includes the famous La Palma Hotel in Capri. He also said that the investment further underlines the belief in the strength of the Venice market and shared that the company is pleased to work with Baglioni Hotels in developing their brand into new markets.