Falkensteiner is to open anew 97-room 5-star hotel, on the 4.5-hectare site of the former Tavani waterworks in Salò, on Lake Garda.
The hotel and 96 apartments will be ready in June 2025
In collaboration with architect Matteo Thun, the 5-star will be built on land acquired during the Covid period by the South Tyrolean group. It will be flanked by 170 premium-living serviced apartments, also completely furnished by Matteo Thun. "Work should start this autumn, with the first phase of the project (costing €140 million) expected to be completed in June 2025 and in the summer the hotel and the first 96 apartments will be available. The premium-living apartments project is essential for the economic sustainability of the entire project,” said FMTG Group CEO Otmar Michaeler.
“Generalist hospitality has no future, the key to success lies in specialization”
"In Italy, the first development was at the Falkensteiner Jesolo where the apartments have now all been sold. For Salò 20% of the available stock has already been pre-purchased," said the chairman of FMTG’s supervisory board Erich Falkensteiner. With F&B outlets and the wellness concept Acquapura Spa, the resort will primarily target the adults-only segment and families. "Generalist hospitality has no future,- said Falkensteiner, -today, the key to success lies in specialization. It is an approach that guarantees, among other things, a specific identity for each of our properties, generating added value.”
Bolzano and Licata are the next Falkensteiner openings
The Falkensteiner Group’s next steps include the opening of the 113-room 4-star Hotel Bozen in Bolzano in 2024, and the 160-room 5-star Hotel Licata in Sicily. "We are constantly looking for new opportunities,- said Erich Falkensteiner -but we remain focused on leisure destinations. We are looking with particular interest at the sea in Tuscany, Apulia, Sicily, Sardinia and Calabria. Our objective is to consolidate our identity as a regional brand, without competing with the large international chains in the urban centres.”
Ambitious plans for further growth
At a group level the year got off to a very good start with a +15% average occupancy up to April. Then, with the drop recorded in almost all sectors of tourism, the growth trend weakened somewhat, settling at +7-8% compared to the same period in 2022: "There is the inflation issue, which undermines people's purchasing power,- says Falkensteiner. -And then there is the competition from Turkey, which has devalued its currency, making its destinations particularly competitive. If at the end of the year we manage to maintain 2022 levels I would be happy.” In terms of turnover the company closed the last 12 months at €230 million, around ten million above budget. "For 2023 the goal is to increase by a further 10%,” said Falkensteiner.
