Alpitour, hotel turnover to 200 million in 2024. Growth through acquisitions

A recent acquisition that brings to over 4,600 the total number of rooms managed by the group, a step in a strategy of repositioning in the hotel sector. For Alpitour, this is just the latest step in a process of strengthening its presence in the hotel segment. Results that have de facto postponed the sale of the company indirectly controlled by the Tip group of entrepreneur Giovanni Tamburi, which holds about 62% as part of a club deal (see box opposite).

"The recent purchase concerns the property and land of the Arenella Resort in Syracuse, 60 hectares and 460 rooms, which will be the subject of investment for restructuring and renovation, with the aim of improving the product and services and giving the resort, with new spaces, also a conference vocation," Paolo Terrinoni, CEO of VOIhotels, the division of Alpitour World dedicated to hotels that boasts a presence in locations such as Sicily, Sardinia, Puglia and Calabria, as well as Cape Verde, Madagascar, the Maldives and Zanzibar, exclusively told Il Sole 24 Ore. "The operation is part of a relatively new business for the group. The hotel dimension within Alpitour World has undergone significant transformations in recent years," he continues. "Originally, hotels were a mere component of the tour operator's travel package, then they became an autonomous business unit with the birth of VOIhotels. From 2019 to 2023, around 135 million euros have been invested in new acquisitions, including real estate, and in renovations to upgrade the product, consolidating the group's assets with real estate assets.

After Covid, the group seized the opportunity offered by the renewed interest in travel and tourism and in 2021 VRetreats was born, a collection of luxury hotels, including historic and prestigious residences and palaces located in Italy, focused on destinations to be enhanced in the eyes of the international tourist. In 2023 VRetreats expanded its collection by introducing four new properties in Syracuse, Olbia, Cervinia and Florence. "The aim is to propose an Italian itinerary, a sort of Grand Tour, in which the art cities of our south are placed side by side with the best-known destinations," he says. To date there are 26 operational structures, divided between the eight in the VRetreats area, all in Italy, and the 18 VOIhotels located in Italy and abroad. Eight are owned structures, including the newly acquired one. Terrinoni estimates a market value of the owned assets of around EUR 300 million.

"An important growth when you consider that there were 17 structures in 2019," Terrinoni emphasises. "As many as 600 are the rooms of the luxury residences. Overall, we closed 2023 with a turnover of 180 million, +65% compared to 2019. Ebitda in 2023 was just over 30 million. We expect to close 2024 with 200 million in turnover. Rental income from managed facilities weighs in at 13% of turnover."

Many contacts are underway with Sgr, family businesses, and institutional investors for single projects, because as Terrinoni emphasises, 'the objective is to grow by expanding the perimeter'. In this regard, negotiations are at an advanced stage to open a five-star hotel in the centre of Lecce, but Milan, Rome and Naples are also under the lens. The business unit dedicated to hotels today represents 8% of the group's turnover, and contributes about 20% to its result. 'Within a short time we want to reach 12 destinations with luxury facilities,' he concludes.