H.n.h. closes Tax Year 2016 with a total turnover of € 34.2 million, up 15.6% compared to 2015

The H.n.h. Group continues to grow and the revenue has increased for the seventh consecutive year. Revenues for Tax Year 2016 total 34.2 million Euros, up 15.6% compared to 2015, which closed at 29.5 million. A result that is even higher than the estimates set at 33.4 million Euros.

"2016 – comments CEO Luca Boccato – was a very successful year. We most certainly benefited from the international context, but we were also able to take full advantage of it thanks to our expertise and organisational structure, with a constant market growth rate both in the leisure and business segments. 2017 can be a year for further development, but also a year for consolidating the corporate structure and reorganization, with a shift of focus from Real Estate to management and hotel management, which we want to become our core business”.

The opening of the Best Western Plus Tower Hotel in Bologna extended the H.n.h. Group’s territorial competencies to Central Italy; the Group already has structures in Jesolo, one of the most sought after beach destinations in Northern Italy, and in other major art cities.

Regarding the key performance indicators, the average daily rate (ADR) confirms the steady growth of recent years, recording an increase of 5%, from 113.0 Euros in 2015 to 118.7 Euros 2016. There is a drop, however, in the average room occupancy, going from 71.4% in 2015 to 67.8% in 2016. This result, however, is affected by the start-up of the Tower Hotel in Bologna, which entered the Group at the beginning of 2016. If we exclude the Tower Hotel, the occupancy rate in 2016 would in fact register an increase, standing at 72.1%.

"2016 exceeded our highest expectations. We are optimistic about 2017, with an estimated total turnover of about 34 million Euros. This figure takes into consideration the closure of the Best Western Quid Hotel Trento, despite its marginal contribution to our turnover (less than 7%)," concludes Boccato, but we are counting on further expanding our portfolio through new projects that we expect to announce shortly ".

Data news: 
Tuesday, 10 January, 2017