Brothers Dragos Dragos and Adrian Pavăl, the founders of Dedeman, are strengthening their presence in the European luxury hotel sector through the investment vehicle Pavăl Holding. Together with their partners from Apex Alliance, the Romanian entrepreneurs are carrying out strategic expansion and modernization projects for assets held abroad, with the latest moves targeting exclusive properties in Switzerland and Italy.
In Switzerland, Pavăl Holding and Apex Alliance have expanded the Waldhaus Flims Wellness Resort & Spa, acquired in the fall of 2024, by purchasing the curling arena in the town of Flims. The deal for the arena is valued at 4 million Swiss francs according to the contract, although introductory sources quote a figure of more than EUR 4 million. The acquisition is considered essential for the resort’s economic viability, with the investors’ plan to demolish the arena after 2027 to build new accommodation. The related land has an area of 6,582 square meters, of which 4,937 square meters are allocated to the hotel area and the rest is designated as a public park. The municipality of Flims, which had bought the arena in 2016 for 3.95 million Swiss francs, decided to sell the asset due to high operating costs and the need for roof repairs estimated at 2 million Swiss francs. The 150-room Waldhaus Hotel, previously renovated in 2016, is currently closed for modernization.
At the same time, Romanian investors are accelerating work on Italy’s Grand Hotel Gardone, their first foreign hotel acquisition, to be realized in 2023. Located on the shores of Lake Garda and inaugurated in 1884, the historic building has entered an extensive renovation process with an estimated budget of EUR 45 million. The objective is to reposition the establishment in the premium five-star segment, while preserving the architectural elements that attracted personalities such as Winston Churchill in the past. Upon completion, estimated for 2027 or summer 2028, the hotel will have 160 rooms, a wellness center, swimming pools and an event hall with panoramic terrace.