Construction start for €45 million-repositioning of historic Bonvecchiati hotel ensemble in the heart of Venice
The redevelopment works for the landmark Hotel Bonvecchiati in Venice have commenced: Over the next two years, the project partners ECE Real Estate Partners, SORAVIA, and denkmalneu, will create a high-end 5-star lifestyle hotel with 168 rooms that is located just off St. Marks Square in the heart of the lagoon city and will operate under the exclusive Only YOU brand of the internationally active Palladium Hotel Group.
The comprehensive hotel project will be realised by upgrading the existing, previously independently managed Bonvecchiati and Palace Bonvecchiati 4-star hotels, into one single, contemporary, and opulently designed hotel as part of an extensive reconfiguration and repositioning. The owners, a joint venture led by the ECE Lodging Recovery Fund managed by ECE Real Estate Partners, together with the real estate and hospitality expert SORAVIA as well as denkmalneu, are investing around €45 million in the repositioning works of the historic hotel property. The opening is planned for spring 2026.
A thorough revitalization just off the world-famous St. Marks Square
The two historic hotels Bonvecchiati and Palace Bonvecchiati will be combined through the redesign of the ground floor and will offer a great variety of gastronomic offers in the future, inviting passers-by, locals and hotel guests alike. Closed street fronts and net curtains will be a thing of the past; instead, a diverse range of in- and outdoor restaurants, bars, cafés and even a bakery will cater to the discerning guests throughout the day.
The extended and thorough planning ensures a final product that is sympathetic to and reflective of its the San Marco surroundings and delivers true added value for the city of Venice and its visitors: The historic courtyard, which currently houses technical facilities, will be restored to its Venetian style and will form the main entrance as well as an idyllic oasis for hotel guests away from the hustle and bustle of the quarter. The varied gastronomic offerings will provide a welcome addition to the local scene, and the hotel’s upgrade will support the city of Venice’s efforts to attract more high-end tourism.
With Lazaro Rosa Violán, an internationally renowned interior designer is responsible for the design of the future 168 hotel rooms as well as the public facilities, creating a design cosmos that combines the location in the Venice lagoon, the history of the Bonvecchiati, which dates back to the 1780s, and a contemporary touch.
Ascan Kókai, Principal at ECE Real Estate Partners: “The total investment volume of almost €150 million in the future Only YOU Hotel Bonvecchiati Venice exemplifies the strategy of the hotel fund managed by ECE Real Estate Partners, which focuses on outstanding locations in growth markets and an active value-add strategy.”
Erwin Soravia, CEO of SORAVIA: “For years, SORAVIA has been focusing on a consistent diversification strategy and growth in the booming hospitality sector. Including investments, the SORAVIA portfolio now comprises more than 6,300 hotel rooms in Austria and internationally, with a further 5,500 hotel rooms under development. The Hotel Bonvecchiati is one of our most important hotel developments. By carefully preserving the architectural heritage while integrating modern luxury standards, this project creates exceptional experiences for our guests. This is in line with our standards for modern lifestyle hotels.”
Thomas Scherer, CEO of denkmalneu: “The redesign and repositioning of the historic Hotel Bonvecchiati requires the highest level of expertise in project development, mindful revitalization and modern hospitality needs. We are delighted that the joint implementation of this international flagship project with ECE Real Estate Partners and SORAVIA has begun.”