Venice. Crack Signa, the luxury Bauer hotel on the Grand Canal sold to the German Schoeller group

VENICE – Crack Signa, the luxury Bauer hotel on the Grand Canal sold to the German Schoeller group. Signa, the Austrian real estate group that declared…

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VENICE – Crack Signa, the luxury Bauer hotel on the Grand Canal sold to the German Schoeller group. Signa, the Austrian real estate group that declared insolvency, has sold three properties in Italy to the Schoeller group, including the famous Hotel Bauer in Venice. The sale, details of which were not disclosed, is subject to approval from banks and regulators and is expected to close in the coming months, Bloomberg reports citing a statement from Signa. The agreement between Signa Prime Selection and the Schoeller group, controlled by the German industrial family of the same name, also includes two commercial projects in Bolzano. Signa had purchased the Bauer, a luxury hotel overlooking the Grand Canal, in 2020 and had obtained a 135 million euro loan from Raiffeisen to finance its renovation. But the works were interrupted at the end of last year due to the Signa crash, extending the reopening time. The Schoeller group had lent Signa 200 million euros a few months before the collapse.

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The Gazzettino

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