By Valentina Za and Simon Jessop
A tale of two hotels: Italy’s bad loan sales hang in the balance
MILAN/LONDON (Reuters) – The Hotel Dei Dogi, a lagoon-side palazzo in Venice, will be renovated in the autumn for the first time in 20 years after a U.S. investment firm snapped up the debts of its family owners, confident of selling it and eight sister hotels at a profit.
In the hinterland a couple of hours’ drive to the west, hotel Le Seriole, modest with a small pool and closed, is being auctioned for a fifth time this month; four previous attempts drew no bids – driving the price down by 79 percent.
The two hotels hold clues to Italy’s ability to draw a final lin…
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