Venice is becoming an increasingly popular destination for luxury hotel chains thanks to a combination of factors. The city attracts millions of tourists each year, with international events such as the Biennale and the Venice Film Festival, creating a constant demand for exclusive properties. Many historic hotels are undergoing renovations and enhancements, offering personalized luxury experiences. Large international chains see Venice as a strategic location for consolidating their presence in the luxury market, while the stable and prestigious real estate market, with restrictions on new construction, makes investments in historic hotels particularly attractive. In short, Venice combines high-end tourism, unique heritage, and real estate opportunities, thus attracting an increasing amount of luxury hotel investments.
Mohari Hospitality and Omnam Investment Group recently completed a major transaction for the Bauer Hotel in Venice.: A financing of 280 million euros This will serve both to refinance the seller's loan and to finance the renovation of the hotel, one of the city's most iconic buildings. The transaction was led by a group of Italian banks and marks a significant step in the hotel's transformation.
Behind the scenes, Mohari was able to rely on financial advice from LUMI Asset Management, while DLA Piper handled all legal, tax, and due diligence matters for both Mohari and Omnam. The creditor consortium was advised by McDermott.
SICAF investment company is born
A key element of this transaction is the creation of Bauer SICAF, a new fixed-income investment company that now owns the hotel. This structure allows Mohari and Omnam to combine their expertise in the luxury and hospitality sectors to restore the Bauer and its historic buildings to their original splendor. Bauer SICAF also owns the neighboring Residenza Grunwald. Thanks to green financing of over €250 million from Italian banks, the company is poised to revitalize both buildings, reaffirming their importance as symbols of excellence in Venetian hospitality.
Mark Scheinberg, founder of Mohari, says their vision is to build a portfolio of luxury destinations based on iconic locations, heritage and memorable experiences.The Bauer Hotel perfectly embodies this vision,” he explains. “Completing this refinancing is a pivotal moment in our journey to restore the Bauer to its position among Europe's most prestigious hotels, honoring its history and preparing it for an extraordinary future in the heart of Venice.”
Restoration already started
Restoration work has already begun: the main design teams have been appointed, and the main contractor is already on site. This marks the beginning of a new chapter for this symbol of the lagoon city.
A little about Mohari and Omnam
Mohari Hospitality, founded in 2017 by Mark Scheinberg, is an international group specializing in luxury properties and lifestyle hospitality. Its portfolio includes destinations in Europe and the Americas and iconic brands such as Four Seasons Madrid, Ritz-Carlton Reserve, Andaz Resort & Residences, 1 Hotel Toronto, and the Ritz-Carlton Yacht Collection. Mohari also owns Tao Hospitality Group, a global leader in restaurants, nightlife, and entertainment.
Omnam, founded in 2011 by David Zisser, focuses on creating hotels that reflect their time and place. The group works on innovative design, project management, creative financing, and sustainability. Its projects include Four Seasons Puglia, Baccarat Hotel Florence, Edition Lake Como, and Kimpton POST in Rotterdam. Omnam collaborates with institutional partners across Europe, transforming historic buildings into timeless luxury destinations.
