TH Group mark a new phase for the Italian hospitality company with the future management of Palazzo Selvadego in Venice. Through an agreement with Generali Real Estate, the group will enter the international luxury segment for the first time. Moreover, the announcement arrives shortly after TH Group revealed a €13 million co-investment project with Cdp Real Asset for the redevelopment of TH Ostuni.

Located near Piazza San Marco and the Grand Canal, Palazzo Selvadego has represented Venetian hospitality for centuries. The property dates back to the late 1200s and historically hosted one of the city’s most famous inns. Today, the hotel operates as a four-star property with 31 rooms. However, TH Group plans to reposition the asset within the luxury market through a major redevelopment strategy.

The renovation project will expand the property by nearly 300 square meters while reducing the number of rooms to 25. Consequently, the hotel will offer more exclusive spaces and higher service standards. In addition, the company plans to connect the property with leading international luxury distribution networks. Therefore, the project aims to increase global visibility and attract premium travelers to Venice.

According to TH Group president Graziano Debellini, luxury hospitality represents a natural evolution for the company’s growth strategy. Furthermore, Venice plays a central role because it remains one of the world’s most important luxury tourism destinations. As a result, Palazzo Selvadego could become the foundation for future upscale developments across Italy.

At present, TH Group include a portfolio of 30 properties and approximately 5,800 rooms nationwide. Nevertheless, the Venice project clearly signals a stronger ambition to compete within the international high-end hospitality sector.