A new record turnover for HNH Hospitality, which in the fiscal year that closed at the end of October 2024 surpassed its 2023 record with 2024 margins still at 15%.
Average room prices rose by 4%
In 2024 the Mestre-based group recorded total revenues of €113 million, up 8% over 2023. Gross operating margins were close to 15% (EBITDA margin), while average room occupancy grew from 73.5% in 2023 to 77% in 2024. The average price per room also evolved, rising by 4% to €164.7.
Palazzo delle Stelline in Milan to be an MGallery
2024 was a breakthrough year for HNH, with the launch of new strategic directions including the agreement for the first management contract in the group's history: the management of the Palazzo delle Stelline in Milan, owned by the foundation of the same name, which will be relaunched in 2026 under the Accor MGallery brand. This agreement marks a turning point compared to the traditional model based on ownership or rental, opening up new scenarios for the future. At the same time, the company has launched its entry into hotel real estate with a hybrid model involving minority stakes in real estate assets (up to 25%), while retaining full control over operations. This choice aims to ensure greater strategic control and support faster growth, with the objective of consolidating a scalable and sustainable model.
“We aim to exceed €120 million in turnover”
2025 will therefore be a year of expansion for the group, with, in the first half of the year, the inauguration of an extended-stay project in Verona consisting of 23 apartments. HNH is also finalizing a second hotel development, currently in the final stages of due diligence, the details of which will be announced shortly.
“We face the new year with great determination and a clear plan of expansion and diversification with which we aim, for the first time, to exceed 120 million in turnover,- said HNH's CEO, Luca Boccato. -This is a fundamental moment for us, during which we are consolidating our position on the market and opening up new prospects for the future. With further openings and collaborations, our aim is to boost our offer, facing the challenges of the sector with an integrated model.”
