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New openings, initiatives and results

13-03-2024

HNH HOSPITALITY: 2023 Financial Statement approved

Historic record of operating revenue at 105.7 million Euros, net profit at 6.4 million. EBITDA at 16.1 million.

The Board of Directors of HNH Hospitality S.p.A., among the leading independent hotel operators in Italy for the 4- and 5-star hotel and resort segment, has approved the results of the financial year that closed on 31 October 2023.

Specifically, HNH recorded a volume of overall operating revenue of €105.7 million, a 48% increase compared to 2022. The EBITDA recorded by the HNH Group on 31 October 2023 was €16.1 million, at 15%: a consistent increase if compared to 2022, when the EBITDA Margin was 14%. The statutory EBITDA practically doubled with regard to the previous year, with €10.5 million recorded net of government aid (€5.2 million in 2021) – while net profit reached €6.4 million.

This last year is extremely positive for the Group, with financial performance reflecting the profitability of the company’s organizational model, aided by a highly diversified portfolio of structures in terms of offer but also in terms of location. Specifically, in 2023 a marked growth in “primary” destinations (Rome, Milan and Venice) and “secondary” ones (Verona, Bologna and Trieste) emerged, influenced by an increase in demand from foreign markets, starting with the U.S.

The desire to “travel again,” a trend that had already emerged in 2022, was strengthened during the year and affected all business units in which the Company’s hotels operate, recording uniform growth that also lays an optimistic foundation for 2024.

After the opening of Almar Giardino di Costanza in Sicily, 2023 saw the continuation of this strategy with a new opening, the Pullman Almar Timi Ama Resort & Spa in Villasimius, Sardinia, which reinforces the luxury segment. Not only results on the openings front, during the year HNH also announced, as part of its collaboration with Elite, the ecosystem of Italian Stock Exchange that connects companies to different sources of capital to accelerate their growth, the achievement of all 3 certificates focused on Sustainability, Governance and Strategy&Finance. This is a first in Italy and a result of HNH Hospitality’s daily commitment as a leading company concretely committed to the efficiency of business management and the welfare of the community.

We will remember 2023 as a record year for turnover that was over 100 million euros, but not only. A year marked by the consolidation of sales with occupancy rates returning to 2019 levels, but with an average price level, compared to the same year, up by almost 40 percent. Added to all this is a strong push for growth thanks to the entry of our partners Fondo Italiano d’Investimento and Eulero” – commented Luca Boccato, CEO of HNH Hospitality. “If in the past year we have reinforceded some of our strengths, in the current year we would like to explore new routes on the wave of further growth in sales, embarking on a diversified path for our business development always in a multibrand logic, which we count on being able to announce new openings that we have already identified soon.” concluded Boccato.

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