Mohari-Omnam acquire Hotel Bauer in Venice

VENICE, Italy – After much speculation, the fate of the luxury Hotel Bauer in Venice now appears to be clear as Mohari Hospitality and its strategic partner in Europe, Omnam Investment Group, have announced the acquisition of the famed property with plans to complete the transformation along with newly named operator Rosewood Hotels & Resorts.

Previous reports had LVMH close to acquiring the hotel, but Bloomberg reported in late July that sources said Mohari was in exclusive talks to buy the property for $335 million.

In April, reports surfaced that Swiss-German group Schoeller had taken control of the iconic hotel from troubled Austrian group Signa, which bought the Bauer in 2020 and closed it in 2022 to complete a major renovation. However, when Signa reported went into insolvency in 2023 worked refurbishment work stopped on the property. Other reports suggested as part of Signa’s restructuring plan, it sold the Bauer to U.S. manager King Street Capital Management.

Mohari and Omnam would not confirm the name of the seller, the price paid or offer to Hotel Investment Today any additional color about the deal, but it now has the opportunity to pick up the pieces and complete the restoration.

“Our vision at Mohari is to establish a portfolio of unparalleled luxury hospitality destinations defined by iconic locations, heritage value, and exceptional guest experiences. The legendary Bauer Hotel fits perfectly within our vision,” Mark Scheinberg, founder and principal of Mohari Hospitality, said in a statement. “The Bauer is truly irreplaceable, prominently situated in the beautiful city of Venice. We are proud to have the opportunity to preserve and elevate this extraordinary jewel of a property, honoring its legacy while transforming it to become one of Europe’s most distinguished hotels.”

The Bauer joins Mohari’s growing collection of luxury European assets, following the company’s recent acquisition of a historic Parisian property, which is set to become a luxury hotel, and its previous flagship investment in the Four Seasons Hotel in Madrid.

Mohari and Omnam were advised on the acquisition by Kryalos SGR, DLA Piper, Deloitte, Eastdil Secured, CBRE and Cushman & Wakefield.