Venice's Hotel Bauer, an iconic and historic 5-star hotel on the Grand Canal occupying a 13th-century palace that has been renovated several times to its current neo-Gothic appearance, has been purchased for 300 million euros by Mohari Hospitality, an international company from Cyprus, together with its strategic partner in Europe, Omnam Investment Group, which specializes in real estate investment and development in the high-end hotel sector. The hotel will be given under management to China's Rosewood. Mark Scheinberg, the 51-year-old Israeli-Canadian entrepreneur founder and director of Mohari, and former founder of PokerStars with his maxi-bid beat out competitors such as Bernard Arnault, head of the LVMH empire. "The Bauer is truly irreplaceable and is in a prime location in the beautiful city of Venice," says Scheinberg. "We are proud to have the opportunity to preserve and elevate this extraordinary jewel, honoring its legacy and transforming it into one of the most prestigious hotels in Europe”