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Sunday, February 28, 2021

CEO Spotlight

Profile – Reuben Brothers: Who are the owners of the company that acquired one of the most historic hotels in Venice

Billionaire property magnates the Reuben brothers with main activities involving real estate, both in the UK and abroad, venture capital, and private equity. The company has offices in London, Geneva, and Italy. David and Simon Reuben are the owners of the company. In May 2020, they were named as the second richest family in the UK by the Sunday Times Rich List with a net worth of £16 billion.

The brothers were born in Bombay. They are the sons of David Sassoon Reuben and Nancy Reuben, a prosperous Baghdadi Jewish family. The brothers arrived in London in the 1950s with their mother, Nancy, and lived in Islington. During the years they have run various businesses till they decided to deal mainly with the real estate sector which proved to be their route to success and prosperity.

Nowadays, Reuben Brothers own some of the most known properties not only in the United Kingdom but also in some other places around the world. Recently, the name of their family came into publicity again as they acquired one of the most historic hotels in the centre of Venice, the Baglioni Luna. This move shows the new plans of the family to expand further its property in the hospitality sector in Italy.

In January 2021 Reuben Brothers have purchased the 5-star Baglioni Hotel Luna in Venice. The 90,000 sqft building which dates back to the 12th century is situated behind Harry’s Bar adjacent to St Mark’s Square offering panoramic views over the Venetian Lagoon and Royal Gardens. The hotel includes an art gallery, 400 sqm of event space, restaurant, café and private dock. The company has already put into action its plans to upgrade the facilities of the hotel in order to offer guests an unforgettable luxury experience. Not to forget to mention that The Baglioni is now the Group’s second hotel in Venice, and fifth in Italy.

Despite the difficulties in the economy worldwide due to the Covid-19 pandemic, Reuben Brothers are of those businessmen who use the present situation as a great opportunity to expand even more their activities. During 2020 Reuben Brothers signed a number of successful deals including the acquisition of the fee simple retail property at 259 Worth Avenue, Palm Beach Florida which features a 200 foot wraparound frontage and is tenanted by Tiffany and Tony Burch and The Surrey in Manhattan’s Upper East Side, a hotel built in 1926. Reuben Brothers have also purchased two adjoining landmark retail assets in Beverly Hills, California. The properties at North Rodeo Drive house the flagship stores of Alexander McQueen at 457 and Brioni at 459.  In May 2020 the Reuben Brothers have acquired the landmark retail from SL Green at 609 Fifth Avenue – New York, opposite Sacks’ flagship store on Fifth Avenue and the Rockefeller Center.  The freehold retail is located in a 13 story building. Αn equally interesting year with many investment deals in the hospitality sector was 2019. During this year the Reuben Brothers, among other investments they acquired El Hotel Pacha in Ibiza while they decided to expand their portfolio of properties in Greece by acquiring the La Residence hotel in Kalafatis Bay which is located in the south east of Mykonos island. The luxury boutique hotel is only a few minutes away from the sandy Kalafatis beach.

It is worth mentioning that the company has also activity in the shipping sector. Reuben Bothers shipping fleet consists of 15 vessels, 14 operating in the dry bulk sector (7 Kamsarmax vessels, 4 Post-Panamax vessels, 3 Capsesize vessels) and 1 Aframax tanker transporting crude oil and petroleum.

The course of the company is in full growth without anything being able to stop it. When other entrepreneurs are reluctant to dare, the two brothers reaffirm the view that in times of crisis are made the biggest and most successful investments.

Maria Gourtsilidou
Maria Gourtsilidou is Senior Editor of Research and Data Analytics at the CEOWORLD magazine. She is responsible for driving thought leadership, using data analytics to showcase the company’s products and services, and fostering knowledge sharing between CEOWORLD magazine and client organizations. She studied Public Administration (Economics Of The Public Sector) in Greece and holds a Bachelor’s in Public Administration from the Panteion University of Political & Social Studies. Follow Maria Gourtsilidou on Twitter. Write at maria-gourtsilidou@ceoworld.biz.
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