H.n.h. Hotels and Resorts closed fiscal year 2017 with a total turnover of Euro 40.8 million, up 14.5% over the same period in 2016

The H.n.h. Hotels and Resorts Group recorded its eighth consecutive year of revenue growth, and saw its turnover increase 14.5% to over 40.8 million Euros, compared to 35.6 million in 2016.


Luca Boccato, the Group's CEO, commented on the year just ended: "2017 marked a record setting year for Italy’s tourism industry and we were able to take full advantage of the signs of economic recovery. It was an important year in terms of turnover, but also crucial to the strategic planning for the coming years. The partnership with Siparex, a private equity fund and minority shareholder in the company, has given strong impetus to the Group's national development, leading to the signing of two new leases for the facilities that will open in Trieste and in Rome in 2019. "


Taking into account the hotels under direct management, thus excluding the properties that operate under management contracts, the total turnover amounts to 33.7 million Euros, up 13% compared to 2016. The excellent results achieved are reflected in the positive trend of the key performance indicators. The average daily rate (ADR) confirms the steady growth shown in the last few years, recording a 6.9% increase, from Euro 118.7 in 2016 to Euro 126.9 in 2017. The average room occupancy rate also grew by 8%, from 67.8% in 2016 to 73.3% in 2017.
The substantial impact on aggregated data was generated not only by the significant increase in occupancy in cities such as Verona and Venice, but also by the growing popularity of Jesolo, the town where the Group was founded and where it currently operates most of its facilities, and which is now recognized among Italy's most loved seaside destinations.

“2017 was a pivotal year for our company – concludes Luca Boccato – not only because, to our great satisfaction, we succeeded in exceeding out target budget, but also because we were able to confirm the effectiveness of our organizational structure. In 2018, before the new openings already in the pipeline for 2019, we expect a further consolidation of performance with revenue growth of 2.1% on a like-for-like basis. However, we do not exclude the possibility of expanding our hotel portfolio with new acquisitions already operational during the course of the year."

Data news: 
Tuesday, 23 January, 2018