Eagle Hills Venice Hotel Renovation | Abu Dhabi Investment
Abu Dhabi’s Eagle Hills is injecting €200 million into the renovation of Venice‘s historic Grand Hôtel des Bains, signaling a strong vote of confidence in the luxury hospitality sector and bolstering UAE-Italy ties. This strategic Abu Dhabi investment, spearheaded by Mohamed Alabbar, aims to restore the iconic destination to its former glory, with COIMA SGR handling debt acquisition and project financing. The project marks a significant expansion for Eagle Hills, known for its portfolio of high-end hotels, and aligns with COIMA’s focus on urban regeneration. Learn how this collaboration aspires to revive a landmark that once attracted European elites. News Directory 3 reports on the revitalization efforts, including enhancements to the surrounding beachfront and park. Discover what’s next …
Eagle Hills Invests in Grand Hôtel des Bains Renovation in Venice
Abu Dhabi-based Eagle Hills is partnering with an investment group to undertake a €200 million ($215 million) renovation of the historic Grand Hôtel des Bains in Venice, Italy. The move signifies growing confidence in Italy’s tourism sector and strengthens UAE-Italy relations.
COIMA SGR, a leading Italian real estate investment firm, finalized an agreement to acquire 100% of the debt on the Grand Hôtel des Bains, paving the way for its restoration. the project will be financed through the COIMA Des Bains Fund, backed by the COIMA ESG City Impact Fund and Eagle Hills.
The COIMA ESG City Impact Fund includes investors such as Cassa forense, ENPAM, Inarcassa, and Intesa Sanpaolo. Eagle hills’ investment marks a strategic expansion into Italy, focusing on reviving iconic destinations through luxury hospitality. The Grand Hôtel des Bains will join Eagle Hills’ portfolio of over 90 luxury hospitality properties.
Mohamed Alabbar leads Eagle Hills, which owns and operates more than 35 hotels across Europe, the Adriatic, the Middle East, and Africa. Notable assets include the restored bristol Hotel in Belgrade, Serbia.
The COIMA ESG City Impact Fund focuses on urban regeneration, including projects like the Porta Romana Railway Yard redevelopment and the 2026 Winter Olympics Athletes’ Village. Entrepreneur Federico Marchetti, founder of YOOX Net-A-Porter Group, has also invested in the COIMA Des Bains Fund.
The fund acquired a €54 million ($58.1 million) loan against the hotel from Intesa Sanpaolo and Altea SPV. This allows COIMA to invest approximately €200 million ($215 million) in restoring the Grand Hôtel des Bains, which has been closed since 2010. The redevelopment includes enhancements to the surrounding park and beachfront.
Opened in 1900, the Grand Hôtel des Bains was a luxurious retreat frequented by Europe’s elite. Thomas Mann’s stay in 1911 inspired his novella “Death in Venice,” and the hotel later featured in the 1971 film adaptation.Previous redevelopment plans were abandoned in 2010.
COIMA and Eagle Hills will coordinate with Venice’s authorities to finalize the restoration program, aiming to restore the hotel’s historical character and position it as a high-end resort, boosting luxury hospitality in the region.
Mohamed Alabbar, chairman and founder of Eagle Hills, said, “This is more than a restoration – it is a revival of European legacy through modern excellence…bringing our experience in luxury hospitality to one of the most symbolic hotels on the continent.”
Manfredi Catella,COIMA founder and CEO,said,“The Grand Hôtel Des bains is a symbol of Venice recognized around the world and a treasured part of Italy’s cultural heritage…We will promptly begin working with venice’s public institutions to put a programme in place that restores the Des Bains to its rightful place on back on the global tourism map.”
What’s next
COIMA and Eagle Hills may open the fund to further investors to support broader regeneration across the Lido di Venezia,home to the Venice Film Festival,further enhancing Venice’s appeal as a top tourism destination.