L’ austriaca SIGNA , di René Benko , si compera l’ Hotel Bauer a Venezia

The famous Hotel Bauer Palazzo in Venice has a new

owner. At the turn of the year, SIGNA Prime, the flagship of the SIGNA Group, signed

the relevant contracts with the US investment firm Elliott. The closing took place Friday

last week. The parties have agreed not to disclose the purchase price.

“With the acquisition of the historic Hotel Bauer Palazzo in an absolutely prime location

in Venice, we have added another unique property to SIGNA Prime’s portfolio and are

further expanding our market position as a leading European real estate company,”

said SIGNA’s CEO Christoph Stadlhuber.

“Elliott is delighted to complete the sale of the legendary Hotel Bauer Palazzo to its

new owners SIGNA Prime. This marquee transaction against the backdrop of the current

Covid-19 crisis, showcases the strength of the hotel’s operation and the potential

for future growth. Elliott continues to own the Giudecca asset of the Bauer Hotel


In addition to the property, SIGNA is also taking over the 210-room hotel operation,

which will be continued from the beginning of July at the latest, after the closure due

to the Covid-19 virus. “This long-term commitment serves as a signal of our confidence

in Venice and Italy. Northern Italy is one of Europe’s most important economic and

tourist regions,” said Heinz Hager of SIGNA Italy.

SIGNA already owns and operates a number of exceptional hotels in the luxury sector.

These include, for example, the Park Hyatt Vienna in the centre of Austria’s capital, the

Chalet N in Lech or the outstanding Villa Eden Luxury Resort on the west bank of Lake


Hotel Bauer Palazzo:

The Hotel Bauer on the Grand Canal, a ten-minute-walk from St. Mark’s Square, first

opened its doors to guests in 1880 and can look back on a long history. The owners at

that time were an entrepreneur, Julius Grünwald, and his wife. After Grünwald’s death,

the hotel was sold to the Italian Benatti family in 1930. The hotel was expanded continuously

over the decades that followed.

About SIGNA Real Estate

The SIGNA Group, founded by Austrian entrepreneur René Benko in 1999, is a privately owned

investment company with a focus on the real estate, retail and media sectors. The Group is

one of Europe’s leading real estate investors with a portfolio of unique assets in prime locations.

With a current project volume of 12 billion euros spanning 10 locations in Austria, Germany,

Italy, Switzerland and Luxembourg, the SIGNA Group is one of the most significant real estate

developers. The company is one of the dominant investors in the attractive real estate property

markets in German-speaking cities. In close cooperation with local authorities, SIGNA Real Estate

focuses on sustainable urban development, future-oriented utilisation concepts and

unique architecture. At the beginning of 2019, the SIGNA Group decided to expand its real

estate activities to the US market, and it acquired the legendary Chrysler Building in New York.

Source  : SIGNA Real Estate Management