The 6-storey building, currently partly hotel and partly private residences located in the centre of the ski
resort of Cortina d’Ampezzo, is being acquired by Prodea (75%) and Invel Real Estate (25%), through its
discretionary fund “Eudora Fund LP”, for a total purchase price of c. €49m.
Prodea and Invel intend to undertake a c. €25m deep refurbishment project, delivering a five-star luxury
hotel, with up to 100 rooms, prior to the Games opening. The food and beverage offer will also be
upgraded to internationally branded restaurants, establishing the hotel as an F&B destination in Cortina.
Cortina, also known as the “Queen of the Dolomites”, is a world-renowned ski resort in the heart of Northern Italy, attracting top class international tourism and skiers.
Chris Papachristophorou (Managing Partner & Founder of Invel and Executive Chairman of the Board of Directors and Chairman of the Investment Committee of Prodea) and Aris Karytinos (Prodea’s CEO and member of its Investment Committee) said:
“This acquisition is a strong endorsement of our local
knowledge and network, enabling us to source unique assets and create value. Our interest in the
hospitality sector remains strong for Greece, Cyprus and Italy, where Prodea and Invel have a strong
investment focus, and we now have a remarkable opportunity to develop a new luxury hotel in the heart
of Cortina d’Ampezzo, ahead of the Winter Olympics 2026..”
