A few months after the leaks early this year, Hines and Clessidra have finally decided to invest in open air projects by entering the capital of the Human Company group.
Projects for sustainable villages
The operation involves the subscription of a capital increase of €120 million by the international investment group and the Italian private equity operator in a newly established company. The move aims to support Human Company's growth ambitions, while also enhancing the real estate and corporate governance skills of the Tuscan company controlled by the Cardini and Vannucchi families. Also on the horizon are important greenfield projects for the creation of a product based on sustainable village concepts open to exchange with their surrounding areas.
Human Company has ten villages and campsites
This is Hines' first investment in open air tourism and is part of a broader strategy involving so-called alternative assets. Human Company now has ten villages and campsites in Tuscany, Veneto, Lazio and Luxembourg, plus two 2.0 hostels under the Plus Hostel brand in Florence and Prague, as well as the Palagina Estate in the Chianti hills.
Mercato Centrale F&B outlets around Italy
It also has a F&B format called Mercato Centrale, currently active in Florence, Rome, Turin, Milan and Campi Bisenzio. The company boasts a turnover of some €150 million, with an ebitda of €40 million forecast for 2024, just for the open-air sector.
