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Starhotels’ revenues from hotel services have increased by 2% to €243m (£208.6m), exceeding revenue expectations, surpassing 2019 levels and tripling 2021 figures in FY22.
The hotel group’s EBITDA also grew to hit not only its highest ever value – an increase of €17m (£14.5m) compared with 2019 – but also recorded a margin of 32.7% on total revenues, compared with 26.3% in 2019.
According to the group, this “exceptional” achievement has come years earlier than even the hotel industry’s most hopeful predictions made in 2021, which forecast a return to pre-Covid levels by 2025 or 2026.
It is thought that key factors driving growth for the Italian hotel group is due to a renewed interest in the leisure segment, particularly for high-end hotels, which the group specialises in.
Elisabetta Fabri, president and CEO of Starhotels, said: “We finished 2022 with a remarkable shift in momentum, thanks to the hard work of a team trained to always exceed expectations.
“Our ability to maximise hotel performance, planning, and structuring growth steadily and sustainably, allows us to pursue ever more ambitious challenges. One of these is to make a difference in the ESG sector, a topic that is becoming ethically essential in the long-term vision of the hospitality industry.”
So far in 2023, the group has also taken “significant” steps to focus on its green transition, having launched an investment plan of €3m (£2.5m) for 2023 through to 2026 to lower its energy consumption by more than 30%.
