Grace St. Moritz acquired by prestigious European real estate investor
The Grace St. Moritz hotel project has been sold to a privately owned investment company for an undisclosed amount. The new owner, with real estate assets throughout Europe, will complete the development began by the Libra Group upon acquisition in 2013.
The historic La Margna hotel was built in 1906 and is one of the landmark hotel properties in St. Moritz. The alpine resort remains one of the world’s most glamorous summer and winter destinations as well as being a spotlight for winter sports since its establishment in the late 19th Century. St Moritz has twice hosted the Winter Olympics and is home to the famed Cresta Run toboggan course. The south-facing hotel, adjacent to St. Moritz railway station, has perfect views of the resort’s lake and valley and is just minutes away from the luxury shops and restaurants which define the town’s chic status. It had been been privately owned by same family for the previous 50 years until Libra’s Grace Hotels Group acquired the property.
In 2015, through public ballot, the people of St. Moritz voted with a substantial majority to approve the comprehensive renovation and extension of the Hotel La Margna, also re-assigning the period hotel to a new hotel zone appropriate to the re-development plans. The new hotel will preserve the façade of the original building and add a modern wing, the foundation of which our hospitality development company had already constructed. The property is expected to re-open in 2023.