Des Bains Venice has entered a new phase of redevelopment, with safety works starting in early September ahead of the hotel’s planned reopening in 2030. The historic property on Venice Lido has remained closed since 2010, but construction now marks a concrete step towards its revival.

The hotel’s owner, the De Bains fund, is jointly held by Coima SGR’s Impact fund and Eagle Hills, the Abu Dhabi-based real estate investment and development company. Meanwhile, the ownership structure is preparing to select an operator for the property. The process attracted 17 potential operating companies, with four candidates now on the shortlist.

The selected operator will position the hotel in the luxury segment. In addition, the future concept may include ancillary residential components linked to hospitality. The operator selection should conclude by the end of 2026. After that, the ownership will finalise the interior design team from a shortlist of six firms.

The redevelopment follows a long restructuring process. In June 2025, Coima reached an agreement with the lending banks to acquire 100% of the hotel’s financial debt. The transaction involved approximately €54 million and allowed the property to achieve full debt restructuring.

Moreover, the project follows the failure of an earlier residential conversion plan promoted by Est Capital. The hotel closed in 2010, and the stalled redevelopment left the historic property unused for more than a decade.

Now, the new works aim to restore Des Bains Venice and return it to the high-end hospitality market. The project also forms part of a wider urban regeneration strategy in Venice Lido, with the future operator expected to enhance both the hotel offer and its wider hospitality potential.

Coima’s Impact fund remains focused on urban regeneration projects across Italy. Through strategic partnerships and co-investments, the fund has mobilised around €5 billion in capital with Italian and international institutions.