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Paval Commits €60m to Revive Grand Hotel Gardone

Historic Grand Hotel Gardone facade on the shores of Lake Garda, Italy

10th August 2026

4 Min Read

Historic Grand Hotel Gardone facade on the shores of Lake Garda, Italy

Grand Hotel Gardone opened its doors on the shores of Lake Garda in 1884 and has since welcomed guests including Winston Churchill, Gabriele d'Annunzio and William Somerset Maugham.

More than a century later, the 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.

A protected Belle Époque landmark becoming Italy's first LXR hotel

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 being stripped back and rebuilt to modern luxury standards.

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. On completion, the property will operate as LXR Hotels & Resorts, Hilton's collection of independent luxury properties, marking the brand's entry into Italy.

The redesign is being led by Milan-based studio De.Tales, whose founders Igor Rebosio and Giuseppe Varsavia have built the architectural concept around preserving the hotel's historic character while introducing a contemporary sense of light and space.

160 rooms, year-round operations and 80 new jobs

Once reopened, Grand Hotel Gardone will offer:

  • 160 rooms and suites
  • Two restaurants and two bars
  • A spa with indoor and outdoor pools
  • A fitness centre, meeting facilities and a ballroom overlooking the lake

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.

Also Read: Mercure Opens First Oradea Hotel With €15m Investment

Part of a wider wave of luxury investment on Italy's lakes

The renovation comes as Marriott converts Bellagio's former Hotel Grande Bretagne into the first Ritz-Carlton in Italy, also slated for 2026, putting two major hospitality groups on course to open competing luxury properties 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."

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