Lake Como is a time capsule: Its many opulent villas, which have sheltered well-heeled travelers like Franz Liszt, Madonna, and Sylvester Stallone, are preserved. But on occasion, modernity manages to squeeze through its staid, northern Italian cracks. The 30-suite Il Sereno, while sleek and stylish on the surface, shows understanding of its historic context thanks to Spanish designer Patricia Urquiola. It’s a crossroads where baroque gilded mirrors and hypnotically layered coffers meet smart and conservative furniture by Le Corbusier, Gio Ponti, and B&B Italia. But with a hotel located four miles from Como’s center, for visitors, the design might be of ancillary importance to the restaurant, which seemingly floats atop the lake, or to the full-service spa under antique archways. Like its sister property in St. Barts, Il Sereno is fast becoming a new beacon of light for travelers seeking solace—with a smattering of Occidental decadence of ole.