CBRE have advised on the JV made by Palladium Group (Palladium Italia and Papillon SA) and Serenissima Partecipazioni on the sale of the Venice Murano luxury hotel scheme to Langham Hospitality Group.
"Venice is one of the best performing markets in Europe and a prime location for luxury hotel brands to be placed. We are honoured to have advised Palladium Group and Serenissima Partecipazioni on this deal and have the opportunity to enable Langham to open another flagship hotel in Europe with this iconic urban resort in Venice."
Francesco Calia, Head of CBRE Hotels Italy | CBRE Italy
Langham Hospitality Group encompasses a family of distinctive hotels under The Langham Hotels and Resorts and Cordis brands with more than 30 projects currently either confirmed or in developed stage of negotiation from Asia, Europe and North America to the Middle East. The Group takes its name from the legendary Langham in London, which was widely recognized as Europe’s first Grand Hotel.
"We are pleased that Langham have decided to invest in Italy. This is further proof of the ongoing appeal of the Italian real estate hospitality market"
Domenico Basanisi, Director of Investment Properties CBRE Hotels Italy | CBRE Italy
This new hotel scheme in Venice - a brownfield redevelopment of an ancient glassmaker - is scheduled to be completed and opened in 2022. The Resort will have around 140 rooms plus all the facilities needed for a 5-star luxury positioning including two private lagoon docks, as well as charming pedestrian access from the Rio dei Vetrai - the high street of Murano’s glass artists.
Vendors were advised by Macchi di Cellere Gangemi law firm. The team was led by Bruno Gangemi with Valentina Spinelli and Matteo Patrignani.
Langham was advised by Chiomenti law firm. The team was led by Marco Nicolini with Vincenzo Collura and Silvia Colomba.