According to a recent analysis by the Hoteltransactions.it platform by THRENDS, in the first half of this year, there were fewer hotel transactions both in terms of number and volume compared to the first half of 2022. Specifically, there were 62 transactions compared to 103, with a volume of approximately €539.2 million* versus approximately €1.3 billion*. While considering a small percentage of transactions that may not have been detected, accounting for a hypothetical additional 10%, the volume for the first half of the year would still be below half of last year’s volume for the same period. In terms of sales, there were 25 transactions in the first half of this year, with a volume of €461.5 million (-53% YoY), compared to 63 transactions recorded in the first half of 2022, with a volume of €981.1 million. On the other hand, the number of auctions recorded in the first half of this year was roughly the same as the first half of last year (36 vs. 33), with a volume of €74.1 million compared to €79.8 million recorded in the first half of 2022. The number of NPL (non-performing loans) and Portfolio deals was lower, with only one transaction in the former case (€3.6 million) and zero for the latter.
Among the notable hotel transactions in this just-concluded semester, we can mention the sale of the Grand Hotel Gardone Riviera, a 4-star hotel with 167 rooms, acquired by Apex Alliance/Paval Holding, a Lithuanian hotel management company, from the Mizzaro-Papini family; the sale of Palazzo Castri 1874 in Florence, a 4-star Superior hotel with 58 rooms, for €28 million (€483,000 per key); the sale of A&O Venezia Mestre (1 property), a 2-star hotel with 285 rooms, acquired by Campus X from TPG Capital.
Regarding the overall transaction volume in each segment, there is a significant decline in the volume of transactions for 5-star hotels (-91%) in this first semester, and an increase, largely due to the sale of A&O Venezia Mestre 1, in the volume of transactions for two-star properties.
*Note: The values in euros are approximate and subject to change.
