The Blu Hotels Group closed 2023 with a record €80 million turnover, €10 million increase over the previous year.
Higher revpar and occupancy levels
The company's gross operating margins (EBITDA) also performed well closing at €11 million. This success can be attributed to the average revenues per available room (total revpar), which stood at €136.8 This corresponds to an average rate of €194 and an occupancy level of 70.7%, up from 66.8% in the 2022 financial year.
Beach properties were the driving force
The group’s beach properties continued to be the driving force, with the Salento emerging as the most popular destination. Positive results were also seen in Sardinia, Tuscany, Lake Garda, and the mountains. The mountains, in particular, gained strategic importance for the group due to their newfound ability to offer double seasonality. Winter forecasts for 2023/2024 indicate a growth of +20% over last year.
“A diversified portfolio, both in terms of destinations and types of property”
“The results demonstrate the validity of our business model, with a diversified portfolio, both in terms of destinations and types of property. Unlike the general Italian trend, we attracted many Italians to both beach and mountain destinations. Our significant customer loyalty efforts over the past 30 years have undoubtedly played a crucial role,” said Nicola Risatti, president of Blu Hotels.
New salary policies and incentives
To celebrate the year's success, Blu Hotels offered its employees a Christmas welfare bonus of €1,000 that can be used for shopping, fuel and e-commerce vouchers, bill reimbursements, travel, well-being, and leisure. Aligning with the group's new salary policies and incentives, it includes the option for one smart working day per week at the administrative headquarters. Seasonal employees will also receive a welfare bonus at the end of their contracts. “The satisfaction and well-being of our collaborators are fundamental. Therefore, creating a work environment where employees feel valued is essential.”
