L+R Hotels to acquire Hotel Excelsior Venice from COIMA.

L+R Hotels, a private real estate and leisure investment firm, agreed to acquire Hotel Excelsior Venice from COIMA, a real estate investor. Financial terms were not disclosed. “The sale of the Hotel Excelsior represents an important milestone in the financial restructuring plan of the Lido di Venezia II Fund, executed by COIMA. Through a programme of restoration and redevelopment, the hotel has been revitalized and will remain an important historical and cultural landmark on the Venice Lido. We will now focus on completing the plan for the regeneration of the Hotel Des Bains, which is such an important part of the Venetian cultural heritage,” Manfredi Catella, COIMA Founder and CEO.