Located on the island of Tronchetto in the Venice lagoon, the hotel will aim to achieve LEED sustainability certification, using low-emission materials and promoting behaviour with reduced environmental impact.

The group’s fifth property in the Veneto region, B&B Hotel Venezia will consist of 406 standard double, superior double and multiple rooms, featuring private bathroom, free Wi-Fi, 42-inch flat-screen TV with Chromecast, mini-fridge, safe and adjustable air conditioning.

The hotel will comprise two separate blocks, with 226 parking spaces in the basement, also equipped with charging stations for electric cars, reception, a luggage storage area, a meeting room for up to 100 people and a fibre connection up to 300 Mbps.

There will be restaurants and bars on the ground and third floors.

Valerio Duchini, CEO and president of B&B Hotels Italia, said: ‘B&B Hotel Venezia will be the last hotel that the municipality of Venice has allowed to open, after the decision to block all hotel licences. Entering the lagoon market with what will be one of the largest hotels in Europe and the largest in Italy represents a fundamental step in the expansion plan of the B&B Hotels Group, which confirms itself as one of the most solid players in the sector in the value-for-money segment. This operation is a further sign of the strength of the real estate and hotel segment, a driver of investments and new developments in Italy.’

Paolo Rella, CEO and managing director of Blue Sgr, added: ‘We are proud to be working with B&B Hotels. The fund already has five hotels, four of which with B&B Hotels, and we are sure this is a partnership that will continue over time. We believe a lot in this sector, suffice it to say that 10% of real estate investments in Italy target the hotel industry.’

The project is the result of a partnership with Blue Sgr through closed real estate investment fund Fondo Lagune Pasithea, promoted by Batipart Immo Europe, which finalised the acquisition of a 13,000 m2 plot of land.

B&B Hotels Italia, part of the French hotel chain owned by Goldman Sachs with more than 650 hotels in Europe and worldwide, has 58 hotels in Italy.