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New openings, initiatives and results

02-12-2021

HNH Hospitality closes the 2021 financial year with revenue at €34.8 million – up 62.3% – a strong recovery from the second semester

In the financial year closed on 31 October 2021, HNH Hospitality S.p.A. recorded overall operating revenue of €34.8 million, up 62.3% compared to 2020. This is a preliminary figure and therefore still subject to slight variations.

The year recorded a significant recovery of revenue after the sharp drop in 2020 resulting from the Covid19 pandemic, which forced closing many of the group’s hotels in various moments of the year. However, it should be noted that the group’s portfolio has grown further during 2021 with the opening of the DoubleTree by Hilton Rome Monti in April and the voco Milan-Fiere in September. On a like-for-like basis, therefore without considering these two openings, revenue would be 31.4 million, with a 46.5% growth.

Analyzing the indicators in depth, the ADR (Average Daily Rate) grew by 30.6%, from €102.40 in 2020 to €133.80 in 2021. Instead, the OR (Occupancy Rate), conditioned by different availability due to the frequent closings in 2020 fell from 46.7% in 2020 to 41.3% in 2021.

“2021 has shown significant recovery after being hit hard in 2020. We bounced back strongly, with performance from the month of June higher than in 2019,” commented CEO Luca Boccato. “However, not all our structures have recorded this degree of growth. The ones that depend more on long-haul international guests, such as Venice, have only partially recovered and are still far from performing as before.”
“We had forecast recovery but we did not think it would have been so strong. Thanks to the effort made by all our collaborators and to reaching greater efficiency, in 2021 we have returned to having a positive EBITDA. An exceptional result compared to what we forecast just a few months ago”.

“For the 2022 year that has just started,” continues Luca Boccato, “we trust in a further increase in demand. The first signs are very positive. However, the trend will not be the same and will continue to vary among the different destinations. The budget our Board of Directors has just approved estimates revenue, on a like-for-like basis, for the first time in our history over €60 million, even with an occupancy rate still conditioned by the Covid pandemic and at 58%. Regarding development, we are closing an important deal we hope to announce soon for a new opening in the resort segment.”