Positive returns in the first half of 2017 for H.n.h. Hotels & Resorts S.p.A., which records 22% growth, bringing revenues to 14.7 million Euros

In the first six months of fiscal 2017 H.n.h Hotels and Resorts Group reported operating revenue of EUR 14.7 million, up 22% (on a comparable basis) over last year's EUR 12 million.

Thanks to a particularly good start to the year for the entire Italian tourism industry, which grew by 8.2% in the first 6 months of 2017 (data provided by STR Global), the Group has been able to significantly improve all performance indicators.

In particular, the occupancy rate (O.R.), recorded in the first half of the year, grew by nearly ten percentage points, from 62.6% in the first six months of 2016 to an average occupancy rate of 71.3%. The average daily room rate (A.D.R.) followed the same trend, increasing by 4.2% to EUR 112 over the year, compared to EUR 107.4 during the same period of 2016.

Luca Boccato, CEO, commented: "The results confirm the growth path undertaken by the Group over the last few years and the effectiveness of the proven business model that allows the achievement of economic and qualitative targets. We are obviously satisfied with this trend, which exceeds our budget projections of 13.7 million Euros, especially considering the fact that the results refer to an off-season period in which leisure facilities still do not work at full capacity. In recent years, our consolidated portfolio of Hotels, some of which we have been managing for over 10 years, saw the addition of two properties that are giving us great satisfaction: Almar Jesolo Resort & Spa, which is contributing significantly to raising the Group's A.D.R., and, above all, the Best Western Tower Hotel in Bologna, acquired in February 2016, which is recording performance beyond expectations."

Positive expectations for the second half of the year are expected to achieve a total turnover close to EUR 35 million, with growth exceeding 10% over 2016.

"2017 is shaping up to be a pivotal year for us," adds Boccato - "following a strategic partnership with Siparex in February, a private equity manager active in France, Italy and Spain, which invested more than EUR 8 million in the Company by providing new resources to promote growth and development at the national level. We also signed our first management contract for the management of the Hilton Garden Inn Milan Malpensa and we are closing the negotiations for other ambitious hotel projects, also in view of a possible territorial expansion outside Italy's Northeast, which will already be operational by next year."



Data news: 
Wednesday, 19 July, 2017