Apex Alliance, a property management firm, completed the acquisition of Grand Hotel Gardone, a five-star hotel, for €45m. “The acquisition of Grand Hotel Gardone, together with solid partner and investor Pavăl Holding, is a momentous event for our company. Alongside the Hampton by Hilton hotel under construction in Venice, this marks our second hotel development in Italy. Following the planned reconstruction and conversion of the hotel into a prestigious 5-star international brand establishment, this destination will transform into a flagship hotel in the region. We intend to preserve the invaluable heritage of the place while introducing luxurious indulgence that offers high-end services, enhanced facilities, and breath-taking views of Lake Garda, which are highly favoured by both foreign guests and Italians alike. With its renovated private shoreline, the hotel will undoubtedly contribute to the region's development, stimulate tourism, and attract new future investments,” Vytautas Drumelis, Apex Alliance Partner.