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Hnh Hospitality. Revenues continue to grow although occupancy rates are still suffering 

Tuesday, 28 December 2021 13:40

On a decidedly positive note Hnh Hospitality closed the preliminary balance of the 2020-21 fiscal year on 31 October with total revenues from direct management of €34.8 million, up by 62.3% over 2020, and at an even higher level than the pre-Covid 2019 year.


However it must be remembered that this year the company significantly expanded the holdings of the group. In 2021 alone the group saw the opening of the DoubleTree by Hilton in Rome, and the voco Milan-Fiere. On a like-for-like basis when compared with 2020, therefore excluding these two openings, revenues would have still been €31.4 million, a 46.5% rise.

Room rates are up by 30.6%

By analysing the date it can be seen that the average selling price of the rooms (ADR) recorded a growth of 30.6%, from €102.4 in 2020 to €133.8 in 2021. However, the average occupancy of the rooms, being conditioned by varying availability due to the frequent closures in 2020, went from 46.7% in 2020 to 41.3% in 2021.

Venice is still far from the performance we were used to

Luca Boccato, Hnh’s CEO commented: "2021 was a year of recovery after the heavy decline recorded in the previous year. The rebound was very strong, with performances from June being higher than those recorded in 2019. However, not all of our markets recorded similar growth. Those most dependent on long-range international demand, such as Venice, have only partially recovered and are still far from the performance we were used to.”

“The first signs for 2022 are positive”

For the fiscal year 2022, which has just begun, we are confident, as the first signs are very positive. It will not, however, be a homogeneous trend. The budget just approved by our board of directors estimates revenues, on a like-for-like basis, for the first time in our history of more than €60 million, albeit with an occupancy rate, still conditioned by the effects of the Covid pandemic, of 58%.”

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