Paval invests in Lake Garda landmark revival
Some hotels do not just host history, they become part of it. Grand Hotel Gardone, a Belle Époque landmark on Lake Garda, is one such hotel. It opened its doors in 1884 and has since welcomed notable guests like Winston Churchill, Gabriele d’Annunzio, and William Somerset Maugham.
The hotel is now entering its most ambitious chapter yet, backed by an investment of over €60m from Paval Holding, a Romanian group controlled by brothers Dragos and Adrian Paval.
Preserving History
The late 19th century building is protected by Italian heritage authorities, meaning its historic facade and architectural detailing will be preserved intact. However, the interiors will be stripped back and rebuilt to meet the standards expected of a modern luxury address.
Renovation work is already underway and is expected to run for 18 to 24 months. The hotel is targeting a 2027 reopening on a site totalling roughly 16,700 m², of which around 14,000 m² is built.
A Joint Venture
The project is a joint venture between Paval Holding and Lithuanian hospitality group Apex Alliance, which together acquired the hotel in 2023. On completion, the property will operate as LXR Hotels & Resorts, Hilton’s collection of independent luxury properties, marking the brand’s entry into Italy.
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Once reopened, Grand Hotel Gardone will offer 160 rooms and suites, two restaurants, two bars, and a spa with indoor and outdoor pools, a fitness centre, meeting facilities, and a ballroom overlooking the lake.
Grand Hotel Gardone’s operational model will also shift, running year-round instead of seasonally. This change is expected to generate at least 80 permanent jobs and extend demand for local suppliers beyond the summer peak.
International Interest
For investors watching Italy’s lake district, the timing is telling. Marriott is converting Bellagio’s former Hotel Grande Bretagle into the first Ritz-Carlton in Italy, also slated for 2026. This puts two of the world’s biggest hospitality groups on course to plant competing luxury flags on neighbouring Italian lakes within the same window.
Karina Paval, vice president of Paval Holding, said the repositioning is designed to make Grand Hotel Gardone “Lake Garda’s first internationally branded luxury hotel”. The redesign is led by Milan-based studio De.Tales, whose founders Igor Rebosio and Giuseppe Varsavia have built the new architectural concept around preserving the hotel’s historic character while introducing a contemporary sense of light and space throughout.
Investors are also looking at other projects, such as a Dublin rental project backed by Standard Chartered.
