Business

LVMH is said to be in line to buy the legendary Hotel Bauer in Venice

By Eva Morletto01 juillet 2024

Built in 1880 on the Grand Canal in Venice, the Hotel Bauer, formerly owned by the bankrupt Austrian group Signa, is reportedly up for sale for €275 million. LVMH is said to be close to signing the deal.

The historic Hotel Bauer, built in 1880 and idyllically situated directly on the Grand Canal, is said to be for sale for €275 million (Shutterstock)

The hotel business is becoming increasingly attractive to major luxury groups. According to Bloomberg, LVMH and its hotel segment could acquire the Hotel Bauer in Venice, Italy. The deal would be managed by King Street Capital Management.The historic Hotel Bauer, built in 1880 and idyllically situated directly on the Grand Canal, is reportedly for sale for €275 million. This offer is currently being evaluated by the real estate investment bank Eastdil Secured and by King Street, the alternative asset manager founded in 1995 that manages over 25 billion dollars on an institutional platform covering multiple segments of the public and private markets.

If the deal goes ahead, it would be an extremely important acquisition for Bernard Arnault's empire. The LVMH group already owns another historic address in the city of the Doges: the Hotel Cipriani.The luxury tourism segment is becoming increasingly important for the French group. LVMH recently concluded a partnership with Accor to boost the potential of Orient Express train travel. At the same time, the Bulgari chains and Cheval Blanc hotels are growing and developing to satisfy the most demanding customers. Back in 2018, LVMH acquired the Belmond hotel chain for €3 billion. In doing so, the group brought back to life a number of historic establishments in Europe, such as the Hotel Timéo in Taormina, Sicily.

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