The story of Venice’s Bauer gets a new twist as it passes into the hands of the Schoeller Group.
Schoeller is a Swiss-German group
A few weeks ago news appeared in local newspapers that King Street Capital Management, the main financier of the collapsed Austrian group Signa, had taken control of the Bauer Hotel, with the intention of putting it on the market soon. Now Italy’s leading financial daily Il Sole 24 Ore reports that the hotel has passed into the hands of the Swiss-German group Schoeller, along with two other Bolzano assets, the Walther Park and the Viva Virgolo company, already owned by Signa.
The sale is subject to approval by banks and regulators
The sale, the details of which were not disclosed, is subject to approval by banks and regulators and is expected to close in the coming months. In 2020 Signa had bought the Bauer, a luxury hotel overlooking the Grand Canal, obtaining a €135m loan from Raiffeisen to finance its renovation. But work stopped at the end of last year when Signa's collapsed.
