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The Cassa will make the historic hotels make cash

4 years ago babelfish

The Cassa will make the historic hotels make cash

Cdp baptizes the National Tourism Fund: investments of up to 2 billion euros in historic and iconic Italian hotels. All the details

Investments of up to 2 billion euros in historic and iconic Italian hotels.

This is the objective set by Cassa Depositi e Prestiti with the launch of the National Tourism Fund.

Up to € 2 billion will be mobilized from CDP's resources, for a total of € 750 million, and from additional funds from third-party investors. The Ministry for Cultural Heritage and Activities and Tourism will contribute up to 150 million euros through a fund established with the Relaunch Decree .

Through the National Tourism Fund, Cdp's support is strengthened for the enhancement of real estate assets, with particular reference to historic and iconic hotels throughout the country.

The Cassa Depositi e Prestiti thus seeks to strengthen its commitment to tourism, a key sector for the Italian economy, which represents 13% of GDP and 15% of employment.

HERE ARE THE DETAILS ABOUT THE CDP FUND FOR TOURISM

On the proposal of the Chief Executive Officer Fabrizio Palermo, the CDP Board of Directors, chaired by the President Giovanni Gorno Tempini, approved the creation of the National Tourism Fund (FNT), presented at a press conference at the CDP headquarters in Via Goito in the presence of the Minister for Cultural Heritage and Activities and Tourism, Dario Franceschini, and the top management of Cassa Depositi e Prestiti.

The Fund is part of CDP's broader strategy to support the sector, divided into four pillars:

  1. Training: offer of high professional training courses for the qualitative growth of Made in Italy hospitality. In December 2019, in collaboration with Th Resorts and the Ca 'Foscari University, CDP launched the Italian School of Hospitality, to train the new managerial class in the tourism sector;
  2. Innovation: development of innovative solutions and services. In January 2020, CDP launched the National Innovation Fund to support companies in the sector through Venture Capital. The Fund has already financed 11 startups in the sector, in the context of the digitization of operational processes, sustainable tourism and the internationalization of the offer, with further projects being approved;
  3. Consolidation of managers: creation of national champions in the management of hotels, also through the lever of equity. The Group is already a shareholder of Th Resorts and Rocco Forte Hotels and has contributed decisively to their growth over the last few years, bringing them today to a level of over 13,000 direct and indirect employees, with important interventions in Southern Italy;
  4. Enhancement of real estate assets: purchase and modernization of hotel facilities, promoting the separation between real estate property and hotel management, to ensure adequate investments and high quality standards. Over the last few years, CDP has already acquired 7 accommodation facilities for a total investment of 160 million euros.

The Fund may grant the current owners a repurchase right to be exercised within a period of time consistent with the estimates of the recovery of the international hospitality market. Where possible, moreover, the reinvestment of the proceeds of the sale in management activities will be promoted, supporting employment and the improvement of the quality standards of the country's hotel chains.

THE COMMENT OF PALERMO

“Tourism represents one of the key sectors for the country from an economic and employment point of view. The moment of great difficulty it is experiencing may, however, represent an opportunity to accelerate its transition to a more professional, competitive and innovative offer. The creation of the National Tourism Fund further strengthens the already consolidated ability of the CDP Group to intervene in the sector, favoring the redevelopment of Italian hospitality jewels and thus contributing to the evolution of the business model of tourism-hotel companies. The launch of the Fund is part of the CDP Group's organic strategy for tourism, based on important initiatives in training, innovation, enhancement of real estate assets and promotion of the consolidation of hotel managers, in line with the 2019-2021 Business Plan ", declared the Chief Executive Officer of Cassa Depositi e Prestiti Fabrizio Palermo.

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/la-cassa-fara-fare-cassa-agli-alberghi-storici/ on Fri, 25 Sep 2020 10:19:50 +0000.