Prodea Investments and Invel Real Estate have acquired the Hotel Bellevue Cortina d’Ampezzo in Italy for a major redevelopment opportunity ahead of the 2026 Winter Olympics.
The 6-storey building, currently partly hotel and partly private residences located in the centre of the skiresort of Cortina d’Ampezzo, is being acquired by Prodea (75%) and Invel Real Estate (25%), through its discretionary Eudora Fund LP, for a total purchase price of around €49 million.
Prodea and Invel intend to spend round €25m refurbishing the hotel, turning it into a five-star luxury property, 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 well-known ski resort in the heart of northern Italy.
What they said
Chris Papachristophorou (managing partner and 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 in a statement: “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..”