Worldwide: The Reuben brothers and Baglioni Hotels & Resorts have entered into a strategic partnership to roll out Baglioni-branded hotels worldwide, following the Reuben’s acquisition of the Baglioni Hotel Luna in Venice.
The hotel dates from the 12th century and is one of the oldest in Venice. It’s a five-star, 93-room property located 50 meters from Piazza San Marco.
The transaction has taken place alongside a strategic partnership between the Reubens and Baglioni to facilitate the rollout of Baglioni-branded hotels around the world. The expansion will be managed and developed by Patrimonia Real Estate, who originated and assisted the Reubens on the transaction.
Part of the agreement between the Reubens and Baglioni will see the sale and leaseback of the Baglioni Hotel Luna, marking the second investment in Venice for the brothers. They also own the Palazzo Experimental, a boutique property on the Giudecca canal.
Refurbishment work has already begun on Baglioni Luna, with a goal of opening during the summer.
Jamie Reuben said: “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.”
Guido Polito, CEO of Baglioni Hotels & Resorts, added: “Baglioni is proud that an important investor such as [the] 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 acquisition of Baglioni Luna is the latest addition to the Reuben’s existing pipeline of hotel investments and developments in Europe. These include Capri and Rome in Italy, Verbier in Switzerland, and the soon to launch Mondrian Shoreditch in London, UK.
Over in the US, the Reuben’s also recently acquired The Surrey Hotel in New York’s Upper East Side.
Baglioni Hotels & Resorts, founded by Roberto Palito in 1974, is an independent luxury Italian hospitality brand with hotels in Rome, Venice, Florence, Punta Ala (Tuscancy), London and the Maldives.