The Board of Directors of HNH Hospitality S.p.A. released the preliminary results for the fiscal year closed 31 October 2023, reporting an overall operating income of 105.7 million euros, up 47 percent from the previous year’s figure of 71.4 million.
The EBITDA recorded by HNH amounted to 16.2 million, with an EBITDA margin of 15.3%, a substantial increase when compared to 10.2 million in 2022, when the EBITDA margin was 14.3%.
The positive financial performance reflected a gradual increase in the room occupancy rate that continued in these post-Covid years and rose from 41.3% in 2021 to 64.2% in 2022 to 73.5% recorded in 2023. A similar trend was recorded for the average room price with an increase from 143 euros (2022) to 158.2 euros in 2023.
After the important reinforcement in 2022 with the opening of Almar Giardino di Costanza in Sicily, 2023 saw further consolidation of this strategy with a new opening, the Pullman Almar Timi Ama Resort & Spa in Villasimius, Sardinia. With this latest acquisition, the Luxury Resorts segment in 2023 increased its weight within the portfolio from 25% of turnover in 2022 to 31% in 2023.
Even when comparing with the previous year on a like-for-like basis, and thus excluding the new entry of Pullman Almar Timi Ama, growth is consistent, with a 30% increase in turnover.
“We are particularly pleased with these results. In 2023, we have strengthened our growth, exceeding 100 million in revenue for the first time. The absolutely positive figures are a testament to the effectiveness of our organizational model, a diversified portfolio, both in terms of destinations and product type,” – said Luca Boccato, CEO of HNH Hospitality. “For 2024 we expect further revenue growth, on a like-for-like basis, thanks to an increase, albeit marginal, in both occupancy and average daily room rates. We are working to announce three new openings in the business and city hotel segment soon. We will further expand our portfolio, both with regard to destinations and the brands we collaborate with in a logic of increasingly multibrand development.“