MILAN — Despite the global macroeconomic challenges, the appetite for luxury hospitality is not waning. If the latest acquisition by Mohari Hospitality is anything to go by, Italy remains a key destination.
The Mohari Hospitality group has acquired the Bauer Hotel in Venice, a significant addition to its growing European portfolio, “underscoring its commitment to building a collection of luxury properties with irreplaceable heritage and unique cultural resonance,” the company said in a statement.
Mohari made this latest acquisition alongside its strategic partner in Europe, Omnam Investment Group, a leading real estate investment and development group that specializes in high-end hospitality, Mohari said. The property will be reimagined together with Rosewood Hotels & Resorts.
The amount of the transaction was not disclosed. The company could not be reached for comment.
In 2022, Mohari and Omnam forged a joint venture “to increase the impact of developments in luxury hospitality, food and beverage and leisure throughout Europe, harnessing the full potential and unique strengths of each group,” according to the website.
Mohari’s investments include Tao Hospitality Group and Riviera Dining Group, as well as the Four Seasons Madrid, 1 Hotel Toronto, Andaz and the Ritz-Carlton Yacht Collection. Omnam’s portfolio includes the Four Seasons Puglia, Baccarat Hotel Florence, the Edition Lake Como and the Kimpton Post in Rotterdam.
Mohari was founded in 2017 by investor Mark Scheinberg. Before Mohari, Scheinberg cofounded and served as chief executive officer of online poker company PokerStars, which became the world’s largest online poker business before being sold in 2014.
In October, Mohari Hospitality and Omnam Investment Group, along with Pharrell Williams, revealed the acquisition of the historical property formerly known as the Hôtel Saint-James & Albany, situated in the 1st arrondissement of Paris.
The Bauer Hotel is located in the heart of Venice and considered one of the city’s architectural treasures, and a landmark of the late 19th-century Venetian medieval mannerism movement. The property is positioned on the Grand Canal in the historic San Marco district, just steps from the Piazza San Marco. Under its new ownership the property will undergo an extensive restoration.
“Our vision at Mohari is to establish a portfolio of unparalleled luxury hospitality destinations defined by iconic locations, heritage value and exceptional guest experiences. The legendary Bauer Hotel fits perfectly within our vision,” Scheinberg said. “The Bauer is truly irreplaceable, prominently situated in the beautiful city of Venice. We are proud to have the opportunity to preserve and elevate this extraordinary jewel of a property, honoring its legacy while transforming it to become one of Europe’s most distinguished hotels.”
