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Double-digit leap in revenues for Mangia’s Resorts and a change of pace with the decision to approach the luxury city hotel market in metropolitan and art cities. In 2023 revenues reached 114 million with a +40% on the previous year and an Ebitda of 11 million (+33%). «With great satisfaction we have exceeded 2019 levels, moreover in a context of reduction in invested capital thanks to the joint venture with Blackstone, this indicates a greater return on equity for shareholders – explains Andrea Mangia, CFO Mangia’s Resorts owned by Aeroviaggi – . Among the main objectives for this year we estimate a growth in turnover of up to 120 million euros and the announcement of important new operations which will lead to an increase in the number of rooms owned and/or managed by approximately 700 units”. The company currently has 13 resorts between Sicily and Sardinia with a capacity of over 1 million guests per year while partnerships are operational with international hospitality brands such as Marriott International, Hilton and Tui Blue.
Strategy towards city hotels
The Group’s next step is to enter the luxury 5-star city hotel market also to complete the Mangia’s Resort offer. An operation for the acquisition of a 5-star luxury property in one of the top five Italian cities is currently being finalized. The city hotel project proves to be wide-ranging, with the medium and long-term objective of integrating high-level structures into the portfolio in different Italian cities. It is expected that the development project of the city hotel line will have an impact as early as 2025 with a +12% on total turnover. Also in this case, important international hospitality brands will be involved, as happened with some of the 5-star structures currently in the portfolio. The seal of the proposal signed by Mangia’s Resorts will be the services related to food & beverage and well-being: also on this front the Group is evaluating possible collaborations with first-rate brands, to optimize the value of the offer and provide guests with a complete experience high level. «We are celebrating the 50th year of life of our company with an exceptional result, the first of the fruits reaped after the profound transformation of our company – comments Marcello Mangia, President and CEO of Mangia’s Resorts -. We are lucky enough to do a wonderful job, offering hospitality in a unique territory such as Italy. Creating value is our goal, succeeding with these results makes us happy.”
Mangia’s Resort’s growth is driven by international demand, with 52% of customers arriving from abroad with significant growth in arrivals from France, England, Germany and the United States. The good data recorded by Mangia’s Resorts in 2023 were also favored by the development of a multi-channel commercial strategy increasingly inclined towards the valorisation of all commercial intermediaries: from organized tourism which exceeds 50% of bookings to online agencies with 24%, up to to the direct channel, growing this year and representing 18% of total bookings. Partnerships with major international hospitality brands are fundamental, such as the recent operations concluded with Marriott International and Hilton, which contribute to attracting 5-star customers, especially foreign ones. In this direction, the loyalty programs of the partners involved are significant in optimizing the agreements, placing the Mangia’s structures in an increasingly international perspective and favoring the increase in sales abroad.
250 million plan to renovate the structures
After Mangia’s Brucoli and Mangia’s Santa Teresa, which will be completely renovated in 2023, with a total investment of 50 million, the Group has started two important construction sites in Sardinia. Specifically, the restyling activities will concern the MClub Marmorata structure, in Santa Teresa in Sardinia, in which the rooms will be completely redesigned, taking into account the large size of the club and seasonal needs. For this reason it is expected that the total renovation will be completed by the end of 2025, when the resort will be repositioned as 5 stars from the current 3 stars. At the same time, the construction of a spectacular infinity pool has been prepared at Mangia’s Santa Teresa Sardinia, Curio Collection by Hilton, near which a new recently acquired area will be integrated, destined to become a beach club. The estimated investment for these renovation projects already underway, together with the works planned at Mangia’s Pollina, is 100 million, to which 150 million euros will be added for other projects currently being defined, including city hotels. The 2024 season will be inaugurated by the opening of Mangia’s Brucoli, Sicily, Autograph Collection on April 12 and Mangia’s Santa Teresa Sardinia, Curio Collection by Hilton on May 4.