Some hotels do not just host history, they become part of it. Grand Hotel Gardone opened its doors on the shores of Lake Garda in 1884 and went on to welcome Winston Churchill, Gabriele d'Annunzio and William Somerset Maugham through its halls. More than a century later, that same Belle Époque landmark is entering its most ambitious chapter yet, backed by an investment of over €60m from Paval Holding, the Romanian group controlled by brothers Dragos and Adrian Paval, founders of DIY retailer Dedeman.
The late 19th century building is protected by Italian heritage authorities, meaning its historic facade and architectural detailing will be preserved intact, while the interiors are 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, with the hotel targeting a 2027 reopening on a site totalling roughly 16,700 m², of which around 14,000 m² is built.
The project is a joint venture between Paval Holding and Lithuanian hospitality group Apex Alliance, which together acquired the hotel in 2023 and now count the Gardone renovation among the most significant international undertakings in their respective portfolios. On completion, the property will operate as LXR Hotels & Resorts, Hilton's collection of independent luxury properties, marking the brand's entry into Italy.
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. The bigger shift, though, is operational: rather than the seasonal model that has defined the property for decades, the hotel will run year-round, a change expected to generate at least 80 permanent jobs and extend demand for local suppliers well beyond the summer peak.
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, putting two of the world's biggest hospitality groups on course to plant competing luxury flags on neighbouring Italian lakes within the same window, a signal of just how sharply international capital is now converging on this stretch of northern Italy. 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", with the redesign 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.
People mentioned:
- Dragos Paval – Co-founder, Paval Holding; founder, Dedeman
- Adrian Paval – Co-founder, Paval Holding; founder, Dedeman
- Karina Paval – Vice President, Paval Holding
- Igor Rebosio – Co-founder and Design Director, De.Tales
- Giuseppe Varsavia – Co-founder and Managing Director, De.Tales
Image Source: De.Tales
Companies mentioned:
- Paval Holding – Romanian investment vehicle of the Paval family; lead investor in the renovation
- Apex Alliance – Lithuanian hotel development and management group; co-owner and project partner
- LXR Hotels & Resorts – Hilton's luxury independent hotel collection; future operating brand
- De.Tales – Milan-based architecture and design studio, leading the renovation concept
