Travel
Billionaire Arnault Said to Join Race for Signa’s Venice Hotel
- King Street is leading the sales process for Hotel Bauer
- Bids of more than €275 million submitted for Signa crown jewel
Billionaire Bernard Arnault has joined the chase to purchase a storied Venice hotel, one of the trophy assets put on the market in the messy fallout from the implosion of Rene Benko’s Signa Group.
The Hotel Bauer, located on the Grand Canal, was one of the crown jewels of the Austrian mogul’s real estate empire. Despite its prime location and a history dating to 1880, the sales process has been caught up in Signa’s complex creditor entanglements.