What’s new at Starhotels after the record 2024 operational and financial year.
2024 was a highly successful year
Starhotels closed the 2024 financial year with a total turnover of €314.8 million, up 2.8% over 2023; an EBITDA of €102.7 million, or 32.6% of turnover; and a net profit of €34.3 million, or 10.9% of turnover, up 9% over 2023. On a like-for-like basis, without taking into account the restructuring that reduced the availability of some facilities, turnover would have been €312.5 million and EBITDA would have been €104.5 million, with increases of 6.2% and 4.3% respectively compared to 2023.
“This is the best result in our history”
“2024 confirms the solidity of our business model and our ability to generate growth even in complex scenarios,- said Elisabetta Fabri, president and CEO of Starhotels. -The best result in our history, while maintaining excellent margins. This performance propels us towards an ambitious expansion phase, with the objective of driving the evolution of high level and quality Italian hospitality." The group is therefore accelerating its expansion plans: a ten-year loan of €350 million was recently finalized, reducing the previous five-year loan of €460 million. The deal allows Starhotels to become more financially efficient and allocate the funds to improving its property portfolio, acquiring new hotels and signing new lease and management contracts.
A new Starhotels Collezione 4-star in Forte dei Marmi
Among the most significant operations in recent times, Starhotels has acquired the ownership and management of the Hermitage Hotel & Resort, a 4-star hotel with 59 rooms in Forte dei Marmi, marking its debut in the resort segment and strengthening its presence in Tuscany. The resort will become part of the Group's portfolio from the end of the 2025 season and will reopen to the public under the Starhotels Collezione brand from 2026 following a redevelopment phase aimed at maintaining and enhancing the hotel's identity and distinctive historical features, and aligning it with the Group's standards of excellence.
A new hotel in Venice and residential units in Florence
The summer of 2025 will see two openings the Hotel Gabrielli in Venice, a historic hotel in Riva degli Schiavoni, which will reopen as a 5-star hotel with 66 rooms and suites after an exceptional conservative restoration, and the Teatro Luxury Apartments in Florence. This will be one of the city's largest real estate recovery and development projects, and will consist of a new residential complex of 156-high-end units.
