Real Estate
Five-Star Venice Hotel Is a Glimmer of Hope for Signa Prime Creditors
- Creditors scheduled to decide Monday on restructuring plan
- Collapsed Signa needs to sell trophy assets to pay debts
The Bauer Palazzo, Venice.
Photographer: Photographer: Simone Padovani/Awakening/Getty Images
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A five-star hotel in Venice might just be one of the best chances for creditors of its insolvent owner, Signa Prime Selection AG, to recoup some of their losses.
The Bauer Palazzo, located in the heart of the city’s web of canals and due to be managed by Rosewood Hotels, has attracted “high demand” from potential investors, according to a report by the insolvency administrators of Signa’s luxury unit seen by Bloomberg News. The building was under renovation, but work stopped in 2023 as its owner ran out of cash and fell into bankruptcy.