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Hnh Hospitality. Record turnover in sight, at €70 million

Monday, 11 July 2022 13:14
Hnh Hospitality - Almar Giardino Di Costanza Almar Giardino Di Costanza

Hnh Hospitality has a record turnover in sight, at €70 million. Ending the first half of the fiscal year Hnh Hospitality has the wind in its sails, closing November 2021-April 2022 with revenues of over €18 million. 


This is significantly higher than the €3 million recorded in the same period 12 months earlier.

On the upswing

At the same time occupancy rates reached 49.6% (17.4% the previous year and 45.1% the forecast), while average rates were €103.48 (vs. €68.8 in the first half of 2020-21). Hnh Hospitality had already closed 2021 positively, a year in which it recorded a total direct management turnover of €34.8 million. Compared to the previous year (21.4 million), the group's turnover increased by 62.3%. Consolidated ebitda as at 31 October 2021 was then €3.5 million, while profit was €1.4 million.

Hnh Luca Boccato

An average occupancy rate close to 65%

“The first half of fiscal year 2022 closed on a decidedly positive note, even exceeding forecasts, and in addition to increased bookings we are also recording a strong recovery in the conference segment – said CEO Luca Boccato. - We believe the second half of the year will also exceed forecasts allowing us to close the fiscal year with an average occupancy rate close to 65% and a total turnover in excess of €70 million: a result never achieved before (even higher than the €60 million indicated at the time of the approval of the financial statements last April. Ed).

Looking at new opportunities in Sardinia and Milan

Revenue performance will also be boosted by the company’s expansion and the opening of two new properties: the Voco Milan-Fiere Hotel in Milan in September 2021 and the Almar Giardino di Costanza Resort in Mazara del Vallo, Sicily in May. The company is considering further opportunities in Sardinia and Milan.

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