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Th Group. A positive year and an eye on Spain and Egypt

By Wednesday, 09 November 2022 09:30

The Th Group’s turnover is up, and certain to break through the symbolic threshold of €100 million by the end of 2022, thanks to the excellent performance of the Th hotel brand and the successful debut of the generalist Baobab. 

“We should close 2022 with a growth of 109% over 2021”

"We should close at around €133 million, - says the company's CEO, Giuliano Gaiba, - which means a growth of 109% over 2021 and 46% over  pre-Covid 2019, for another €42 million. These are comforting results, and even more so when one considers the context in which we found ourselves, first with the pandemic and then the war and rising inflation.”

Start-up Baobab to close at €20 million

The Th Resorts brand is expected to record a total turnover of 110 million (+17% on the previous year), while the Baobab start-up is estimated to be around €20 million, which is an unhoped-for result for us.” Tailor-made operator Markando is currently undergoing reorganisation and will be relaunched this autumn, “with an innovative project, and experienced, dedicated resources.”

Looking at opportunities in Spain and Egypt

In the near future Th Resorts will see four mountain resorts renew their contracts, and the launch of two new destinations. “One will be Marilleva where we already have one of our historic hotels, and where we will expand together with major financial partners, and one in the Cortina area with the opening of a new hotel in Borca di Cadore." With regards to beach resorts the news will be from Sicily, Calabria and Sardinia, "though management opportunities in Spain and Egypt are also being studied. If they go through, this would be Th's debut abroad.”   

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