Investment

Reuben Brothers continue European expansion with Venice acquisition

Private equity and real estate investors Reuben Brothers announced the acquisition of historic luxury hotel Baglioni Luna in the centre of Venice.

The deal is part of a strategic partnership with Baglioni Hotels & Resorts, the Italian luxury hospitality brand founded by Roberto Polito, to facilitate the rollout of Baglioni-branded hotels around the world. The expansion will be managed and developed by Patrimonia Real Estate, who also originated and assisted the Reubens on the transaction.

The acquisition continues the expansion of Reuben Brothers’ portfolio of hospitality investments and developments, which currently includes properties in Italy, Switzerland, the UK (including the Mondrian Shoreditch and Curtain Members’ Club in London), the US. The portfolio also includes a number of properties from a joint venture with the Pacha Group (Ibiza, Capri, Mykonos) announced a year ago.

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. 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”.

Guido Polito, Ceo of Baglioni Hotels & Resort, adds “Baglioni is proud that an important investor such as Reuben Brothers has seen the potential of the Baglioni brand in the luxury hotel market and has showed a strategic alignment with us regarding the future development in Italy and internationally”.

The Italian market is proving attractive to hotel investors, as shown in Questex’s latest Hospitality Investor Sentiment Assessment, in which Rome became the 3rd most attractive city for hotel investments in Q4 2020, alongside Italy becoming the 3rd most attractive country for hotel investments, replacing Germany.