British businessmen David and Simon Reuben have entered into a strategic partnership with Baglioni Hotels and Resorts, to “facilitate the rollout of Baglioni-branded hotels around the world”.

The agreement is part of a wider deal which sees the Reuben Brothers acquire the five-star Baglioni Hotel Luna in Venice, which is housed within a 12th-century building close to Piazza San Marco.

Guido Polito, CEO of Baglioni Hotels and Resorts, said that the group was “proud that an important investor such as Reuben Brothers has seen the potential of the Baglioni brand in the luxury hotel market and has showed a strategic alignment with us regarding the future development in Italy and internationally”.