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Hnh Hospitality: record revenues in 2023 with +15% profits and margins

By Friday, 12 April 2024 09:58
Pullman Almar Timi Ama Resort & Spa in Villasimius Pullman Almar Timi Ama Resort & Spa in Villasimius

The 2022-2023 fiscal year of Hnh Hospitality concluded on 31 October with record revenues and a 15% profits and margins growth.

Heightened demand notably from the United States

The unprecedented figures topped the £100 million revenue mark for the first time. Direct management saw a notable surge, reaching £105.7 million, a 48% increase from 2022. Gross operating margins stood at £16.1 million, equating to 15%, reflecting a one-percentage-point rise over the previous year. Statutory net profit reached £6.4 million. The strong growth in both primary destinations, such as Rome, Milan, and Venice, and secondary cities like Verona, Bologna, and Trieste, was bolstered by heightened demand from foreign markets, notably the United States. 

“New openings have already been identified” 

In addition to the inauguration of Almar Giardino di Costanza in Sicily, 2023 saw the opening of Pullman Almar Timi Ama Resort & Spa in Villasimius, Sardinia, enhancing the luxury segment. 

Luca Boccato ceo hnh

“We'll remember 2023 as the year we topped the £100 million turnover milestone, but it's not just that,- said Luca Boccato, the company's CEO. -It was a year marked by sales consolidation, with employment levels returning to 2019 levels. However, the average price has soared by nearly 40% compared to the same period. Moreover, with the partnership of Fondo Italiano d'Investimento and Euler Capital, we've bolstered our strengths. This year we want to explore new avenues for growth and pursue diversified commercial development in a multi-brand approach. We look forward to soon announcing new openings that we have already identified.”

 

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