HNH Hospitality, the Boccato Family‘s Italian hotels company that owns the Almar brand and attracted the investments of Fondo Italiano d’Investimento and Eulero Capital in February 2023, aims to focus on the real estate sector ahead of a listing, ceo Luca Boccato reportedly said (see here a previous post by BeBeez). The ceo said that the company is looking for partners for refurbishing high-end buildings in Venice, Rome, Milan, Florence, Bologna, Naples, and Turin. HNH is currently working on two dossiers (one in Rome and another in the North of Italy) and plans to invest ten million euros for opening two hotels.
Paris-listed real estate firm Covivio, an asset of Del Vecchio Family‘s Delfin, acquired 8.3% of Paris-listed Covivio Hotels from Milan-listed Generali through a shares swap (see here a previous post by BeBeez). The vendor received 31 shares of Covivio for 100 shares of Covivio Hotels (ex dividendo 2023) ahead of a public offe through swap on 47.8% of the target. Covivio said it is not going to carrying on a squeeze-out at the end of the offer, nor to implement a merger. Covivio Hotels now belongs to Covivio (52.2%), Crédit Agricole Assurances, BNP Paribas Cardif, Generali, Assurances du Crédit Mutuel, Sogecap, and CDC. The acquisition of Generali’s stake in Covivio Hotels is for Covivio a capital increase of 300 million euros and the equivalent purchase of assets worth 500 million. Alexei Dal Pastro is the Italian ceo of Gruppo Covivio.
Clessidra and real estate investor Hines are working on investing in Human Company, an Italian manager of high-end open air villages, for implementing a buy and build strategy (see here a previous post by BeBeez). A source close to the transaction said to BeBeez that this is a private equity transaction with underlaying real estate assets. Human Company has sales of 126.1 million euros, an ebitda of 38.8 million and a net financial debt of 34.1 million.
In 1Q24, market participants closed real estate deals worth above 1.9 billion euros in Italy, while in 2023 the total value of transactions amounted to 8.2 billion, say the BeBeez Real Estate Report 2023 and BeBeez Real Estate Report 1Q24 (available for the subscribers to BeBeez News Premium and BeBeez Private Data). Click here for downloading the full report and deals data
