Prodea and Invel acquire a hotel in Cortina, Italy for €49 million.

PRODEA Investments and Invel Real Estate announce the acquisition of the Hotel Bellevue Cortina d’Ampezzo in Italy for its complete redevelopment in preparation for the 2026 Winter Olympics.

This six-storey building was acquired by Prodea in 75% and Invel (through the “Eudora fund LP”) in 25% for a total price of approximately €49 million.

Currently operating as part hotel facilities and part private residences, it is located in the center of the Cortina d’Ampezzo ski resort.

Prodea and Invel intend to completely renovate the property, which is estimated to cost around €25 million, creating a five-star luxury hotel with a capacity of up to 100 rooms, before the start of the Olympic Games. The addition of internationally recognized restaurants will enrich the experience as well as the palette of food and beverage options and establish the hotel as a culinary benchmark in Cortina.

Cortina, also known as the “Queen of the Dolomites”, is a world-renowned ski resort in the heart of Northern Italy, which attracts high-quality tourism and ski fans from all over the world.

Mr. Christoforos Papachristoforou (Founder and CEO of Invel and Executive Chairman of the Board of Directors and Chairman of the Investment Committee of Prodea) and Mr. Aris Karytinos (CEO of Prodea and member of the Investment Committee) stated:

“This investment confirms our expertise and enables us to secure valuable assets and create value.

The hospitality industry in Greece, Cyprus and Italy remains a focus of investment for Prodea and Invel and we are now presented with the remarkable opportunity to develop a new luxury hotel in the heart of Cortina d’Ampezzo, ahead of the 2026 Winter Olympics.”