The German Schoeller family of industrialists has been approved to take over three projects from the insolvent Signa Prime in Italy. These projects include the renowned 5-star Hotel Bauer in Venice, the under-construction WaltherPark, and the development project Long live Virgolo in Bozen. The contracts for these acquisitions have already been signed, according to Signa Prime’s restructuring manager.
WaltherPark in Bolzano is a city project that includes a shopping center, hotel, apartments, and office space. Construction is progressing rapidly with an opening planned for spring 2025. The Long live Virgolo project involves the acquisition and development of Bolzano’s local mountain, Virgl, which includes a cable car.
The historic Hotel Bauer in Venice, located on the Grand Canal, has undergone significant renovations since November 2022 and will reopen under Rosewood’s management once renovations are complete. This marks a major milestone for Signa Prime as they continue to streamline their portfolio.
The sale of these projects is subject to regulatory approvals but is expected to be completed in a few months. Details about the purchase price have not been disclosed yet. This acquisition by the Schoellers represents a significant investment in Italy’s tourism industry and highlights their commitment to supporting local businesses and communities.
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