Reuben Brothers has marked another milestone in their hospitality collection by acquiring one of the most historic and iconic hotels in the centre of Venice, the Baglioni Luna.
The c. 90,000 SQF asset 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.
The 5-star 93-room hotel is located 50 meters from Piazza San Marco, in the historic centre, directly facing San Giorgio Island and moments away from the main historic and artistic attractions of Venice.
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 leaseback 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 already started with the goal of opening the renovated Baglioni during summer.
The acquisition is the latest addition to Reuben’s existing pipeline of hotel investments and developments in Europe, including properties in Capri and Rome in Italy and Verbier, Switzerland. In London, the company is represented by the “In & Out Club” on Piccadilly, Great Marlborough St. in Soho and the soon to be launched Mondrian Shoreditch and Curtain Members’ Club. In the US the Reubens’ also recently acquired The Surrey Hotel, the iconic property on New York’s Upper East Side.
The expansion will be managed and developed by Patrimonia Real Estate, who also originated and assisted the Reubens on the transaction.
Jamie Reuben says, “The acquisition of one of the leading luxury hotels in Venice plays perfectly into our wider strategy and complements our existing portfolio which now also includes the famous La Palma Hotel in Capri. The investment further underlines our belief in the strength of the Venice market. We are also pleased to work with Baglioni Hotels in developing their brand into new markets”.
