A new Italian operation for the Palladium Group, is the management of the Bonvecchiati Hotel in Venice.
A 20-year lease to manage the hotel
The Palladium Group, which already operates two resorts in Sicily with a total of 469 rooms, has signed a 20-year lease agreement with the current owner of the hotel which had been acquired for €100 million in 2021.
Turning two old hotels into a single 168-room property
The plans are to reposition the hotel as a 5-star by 2025, and then rebrand it the Only You Bonvecchiati Venice. The project involves an investment of €40 million, which aims among other things turn the 191-room Bonvecchiati Hotel and the 70-room 4-star Bonvecchiati Palace into a single 168-room property on an area of 10,000 sqm. There will also be a large terrace overlooking the canal and a private pier, two restaurants, bars and large communal areas, including a roof-garden.
