Holiday industry

Mangia’s: turnover of 138.9 million and a 180 million plan in the luxury sector

The Palermo-based group ended 2025 with consolidated EBITDA of 16.7 million (+68%), a profit of 4.8 million and shareholders’ equity of 190.5 million. The Costa Ragusa destination makes its debut.

by Nino Amadore

24 June 2026

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Una immagine di Mangia’s Costa Ragusa Borgo che aprirà il prossimo 1 luglio

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Versione italiana

Key points

The 2025 accounts
Brands, partnerships and investments
The Ragusa Coast and the outlook for 2026
Organisation and sustainability

4' min read

Translated by AI

Versione italiana

Mangia’s, a hospitality group which, through its Mangia’s Hotels & Resorts brand, manages 17 properties across Sicily and Sardinia, has closed 2025 with its best results in over fifty years of operation and is preparing a new round of investment worth around 180 million. The group comprises Aeroviaggi Spa and its subsidiaries Pollina Resort Srl and Grand Hotel et Des Palmes Srl: a portfolio that includes a luxury city hotel in Palermo, as well as resorts and clubs, totalling over 4,000 rooms.

The 2025 accounts

As at 31 December 2025, Aeroviaggi Spa reported revenue of 119.064 million euros, up 27% on 2024. At an aggregate level, however, the value of production reached €138.9 million, an increase of 34% compared with the €104 million recorded in the previous financial year. The growth in revenue reflects the positive performance of the properties in the portfolio, driven by higher occupancy rates and an increase in total revenue per occupied room. This result illustrates the gradual shift in the offering towards the luxury and upper-upscale segments and the improved ability to capture demand from guests with greater spending power.

Aeroviaggi’s EBITDA stood at €9.7 million, representing a 48% increase compared with 2024 and an EBITDA margin of 8.2%. On a consolidated basis, EBITDA rose to €16.7 million, up 68%, with a margin of 12%. This result was driven by an improved customer mix, higher occupancy levels and more efficient asset management.

Aeroviaggi’s net profit for the financial year stands at 2.3 million euros, whilst the consolidated net profit amounts to 4.8 million. In terms of balance sheet figures, Aeroviaggi ended 2025 with shareholders’ equity of €159 million and total assets of €308 million; on an aggregate basis, shareholders’ equity stood at €190.5 million, with total assets of €366.7 million.

Brands, partnerships and investments

The financial statements reflect the transformation process undertaken by the group, which is focused on repositioning its portfolio, developing new destinations and building a structured brand architecture. Icona’s Collection will lead the luxury segment, with the Grand Hotel et Des Palmes and the Icona’s Costa Ragusa Resort; the portfolio will also include upper-upscale five-star resorts and a new four-star brand dedicated to the accessible family and leisure segment.

The internationalisation strategy includes partnerships with the Autograph Collection, part of the Marriott International portfolio, and the Curio Collection by Hilton, which are designed to increase visibility in overseas markets and strengthen the company’s positioning in the high-end hospitality sector.

Between 2023 and 2025, the group made total investments of 47.2 million euros: 15.2 million were allocated to the refurbishment of its own hotel assets, whilst 32 million were spent on acquiring stakes in new properties and investing in portfolio companies. Over the next three years, the plan allocates approximately €180 million towards improving the quality of the portfolio, refurbishing existing assets and developing new strategic destinations. Around 40 per cent of the funds will be dedicated to assets under the new luxury brand, Icona’s Collection.

“The 2025 results confirm the Group’s solidity and the consistency of the strategic direction taken in recent years,” says Marcello Mangia, CEO and Chairman of the Mangia’s Group. Mangia’s is evolving its hospitality model by repositioning its portfolio, developing new destinations and strengthening the luxury and upper-upscale segments. Strategic projects such as the launch of the Costa Ragusa destination are a concrete expression of this vision: destinations where hospitality, the local area, sport, fine dining and wellness coexist within an evolving, international model. With Icona’s Collection, we aim to further develop this strategy by building, by 2031, a collection of iconic properties united by a strong identity and connection to the local area. The €180 million investment plan and the results achieved in 2025 – with EBITDA up by 68 per cent and equity standing at €190.5 million – confirm the Group’s ability to sustain this evolution through a structured, long-term vision.”

The Ragusa Coast and the outlook for 2026

2026 is expected to see a further improvement in operational performance. Growth will be driven by three new assets joining the portfolio: the five-star Mangia’s Costa Ragusa Borgo, due to open on 1 July; the Icona’s Costa Ragusa Resort, a five-star luxury property, opening on 1 August; and the Acacia Resort, which has recently joined the portfolio as a four-star property.

The aim is to expand Icona’s Collection to ten iconic properties – comprising city hotels and resorts – by 2031, whilst strengthening international distribution channels and the identity of the individual brands.

Organisation and sustainability

In terms of organisation, as at 31 December 2025, the group had a total of 116 staff members, with 47 new recruits joining during the year.

Finally, the plan includes strengthening the ESG strategy: energy efficiency, reducing consumption, training programmes, employer branding, staff engagement and the development of BREEAM certification for new assets. For the coming financial year, plans include enhancing sustainability monitoring and governance processes, as well as new initiatives focused on people and local communities.