Main Photo: The Excelsior Venice Lido Hotel
Date: July 2020
Location: Lido of Venice, Italy
Name: The Excelsior Venice Lido Hotel
No. of Keys: 196, including 23 suites
Seller: TBA…The hotel has been owned by parent, L&R Hotels since 2016.
Buyer: The Excelsior Venice Lido Resort is the first property located outside of the UK to join the Iconic Luxury Hotels portfolio.
Belonging to the hotel investment and management company L+R Hotels, which owns more than 90 hotels with a total of approximately 17,000 rooms, Iconic Luxury Hotels is starting to grow internationally with a new hotel in Venice.
The property is located on the Lido of Venice, an island stretching over a dozen kilometres, between the island of the historic centre of Venice and the Adriatic Sea, marked in particular by the presence of the beach, the Palace of the Cinema, and a Casino.
The hotel offers 196 rooms including 23 suites, a restaurant and 3 bars. Since 1932 it has hosted the Venice Film Festival, the oldest film festival in the world, every year in September.
Petra Deuter, Executive Director of Iconic Luxury Hotels, said: “L+R Hotels is very pleased to announce that Iconic Luxury Hotels is going international this year with the inclusion of Hotel Excelsior Venice Lido Resort in Italy and hotels in Greece and the USA in 2021. We have ambitious plans for international growth and it’s an honour to welcome these hotels to start that journey. Over the next few years we will see our collection continue to grow worldwide as we further our reputation for sustainable hospitality – preserving the life of historic buildings like Hotel Excelsior – and creating memorable travel experiences. Each of our properties has its own stories, traditions and personality.”
The Venice hotel, with 196 rooms, has been part of the L&R portfolio since 2016. Then, L&R took an equity stake alongside Italian asset manager Coima, buying into a EUR120m restructuring of the Lido di Venezia fund.
Coming in 2021, there will be a newly completed resort on the Greek island of Mykonos, working with local partner Intrakat on a project said to cost €80m. A 71-room luxury hotel plus a dozen residential villas are planned, on an expansive 100 acre site.
The Mykonos project is one of three that L&R is involved with in Greece. In 2017, L&R bought the Amanthus hotel on Rhodes, now refreshed as the Rhodes Bay Hotel and part of L&R’s resort collection. And in mid-2019, it acquired the Titania hotel in central Athens, in a deal reportedly worth more than €50m.
In Florida, Iconic is aiming to open the Palm House, a property that L&R snapped up in mid-2019 in a US$40m deal, as a standing unfinished project. Originally planned as a 79-unit condo hotel, the development had been held up with legal wrangles relating to its previous ownership.
THPT Comment: L&R have owned the hotel for a while, and thus they are re-branding it into their Iconic Luxury Hotels brand. A fab hotel, for this fab hotel brand.
First Seen: Hospitality-on
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