Global hotel chain Starwood Hotels & Resorts has sold to Italian investment fund EstCapital Sgr a 400-room hotel portfolio including the two famed Lido hotels in Venice, the Grand Hotel Des Bains and the Hotel Excelsior. According to several Italian media, Estcapital emerged ahead of two international investors as the favourite candidate for the 100-year old hotel sites. About twenty parties manifested interest for the hotels in the first stage of bidding.
Premium subscriber content – please log in to read more or take a free trial.
