The Group HNH Hospitality S.p.A. has approved the 2019 balance sheet, with the new closing date on 31 October for the first time, and highlights a net profit of Euro 1.2 million. From 1 January to 31 October 2019, the Group registered an overall revenue of Euro 32.6 million with a 4.2% increase (+ Euro 1.4 million) compared to the same period in 2018; EBITDA is Euro 4.762 million, substantially in line with 2018 and EBIT is Euro 2.427 million.
The 2019 KPIs were stable regarding occupancy rate (79.1% vs 79.3%) and RevPAR (95.2 vs 94.1), largely conforming to the previous financial year. They registered a growth in total income (32,987 vs 31,260) and ADR (120.3 vs 118.7). From a financial point of view, the 2019 Consolidated Balance Sheet was compared to the 2018 one, since in 2018 there was the merger by incorporation of H.&F. S.r.l. – a company that manages Almar Jesolo Resort & Spa – into HNH Hospitality S.p.A. The company highlights capital strengthening with current assets of Euro 12.287 million vs 4.625 million, while the net equity is Euro 14.9 million vs 10.9 million.
In 2019, the Group’s portfolio significantly expanded compared to 2018, following the acquisition of various new hotels: in April 2019, after renovation work, Hotel Sant’Elena di Venezia was reopened, under the brand Hotel Indigo (boutique hotel line in the IHG chain) and was renamed Hotel Indigo Venice – Sant’Elena. In May, the lease for the Grand Hotel des Arts di Verona started, and finally, in December, therefore after the financial year ended, the DoubleTree by Hilton Trieste was inaugurated and the leases started for the hotels Crowne Plaza Padova, Crowne Plaza Venice East and Best Western Airvenice.
In addition, 2020 foresees two new openings: Hotel Indigo Verona – Grand Hotel Des Arts, following the restyling and upgrade of 62 rooms in Corso Porta Nuova in Verona and the new location DoubleTree by Hilton Rome Monti, in Piazza dell’Esquilino in the heart of the Eternal City.
Luca Boccato, CEO of the Group, comments on the closed financial year: “2019 was an important year for the Group, with four new acquisitions and a rebranding. Although 2020 is uncertain and complex given the crisis, the Group is working to meet market demand efficaciously at the first signs of recovery, which we hope will be in September. Therefore, we are arranging tools and specific measures, including vouchers that allow clients to change their reservation dates, free of charge and flexibly over 12 months in all the Group’s structures”. Boccato continues: “The Group is solid and thanks to its financial and organizational structure, we can look to the future with the same enthusiasm as always and move forward with the two new openings in Verona and Rome, which confirm we are among the leaders of Made in Italy hospitality”.
