Nothing in the US news, so I am having to find Italian articles and use Google Translate
Looks as if the total debt is 242 million euro owed to 3 banks- MPS, Banco di Sardegna (Pop Emilia) and the German Aeral Bank
Per Tiscali- the payments are "overdue for months, perhaps for years, during which the Campania property developer has however acquired a Roman palace headquarters of the former BNL for a luxury hotel."
And per Corriere del Veneto
"The hotel these days continues to remain open, probably tourists will not notice anything"
Sad news for a grand old hotel.
Originally Posted by
Perche
I'll keep you posted. Right now, sit tight. It's in the paper again today.
http://www.ilgazzettino.it/nordest/v...i-2054892.html
Basically, the group that owns it has been developing luxury properties in Milan and Sicily,and should have plenty of cash, but they don't have liquidity, and haven't paid their mortgage in some months. If they don't settle up soon, the bank will repossess the property. They won' shutter it up, and leave you without a place to stay, and letting it go to the birds would decrease its value as an asset. There would certainly be changes in service and things, but right now, I'd sit tight and see what happens. Remember that there are two Danieli's, the original, and right next door they build an annex. The original is the beautiful one. The annex next door looks like a typical cement post WWII building. Venetians hate the annex because of its poor asthetic impact on the scene. Try to get a room in the original Danieli building.