The Italian Confindustria Hotel Association has entered into an agreement with UniCredit for the financing of renovations and redevelopments of accommodation facilities. The agreement allows UniCredit to allocate a total ceiling of 300 million euros for the granting of loans specifically designed for the needs of operators in the sector (maximum cut of 3 million euros, repayment in line with the season) to expand, build, purchase, modernize hotel facilities, renew equipment and furnishings, remove architectural barriers, fix systems and adapt materials to the most recent regulations .
A real breath of fresh air for a sector which, while not exempt from the crisis, expects constant growth in the coming years. The data speak for themselves. In 2012 the contribution of tourism to the country's GDP was 161 billion euros (11%) with 2 million and 700 thousand employed. The objective of the operators in the sector, already in the short term, is to significantly increase this contribution to the country's economy and to employment. In 2012 arrivals in Italy were around 104 million, of which 79,7% in hotels.
The total presences were 4 million (67,3% in hotels), the average stay of 3,7 days. In the period from January to July 2013 alone, the tourism balance of payments presented a surplus of 7.721 million euros, marking a plus 9,9% compared to the same period in 2012. “In this context, the initiative of the Italian Confindustria Association Hotels – explains Giorgio Palmucci, President of the Association -, aimed at supporting the commitment of companies for a requalification of the hotel offer that allows them to better respond to the growing needs of the markets. A necessary and strategic step to fully exploit the potential of a rapidly expanding market, mostly in anticipation of the positive effect that will be produced by the Universal Exposition of Milan in 2015 which estimates a tourist presence of around 5 million foreigners in the EXPO semester, an appointment for which the entire country system, especially the hotel sector, must arrive prepared".
“UniCredit has purposely developed a dedicated financial product – says Alessandro Cataldo, Deputy Country Chairman and Head of Corporate Banking in Italy – capable of competently 'reading' the hotel investment and also of supporting medium-long term interventions, to overcome the current criticality and weakness of resources determined by five years of serious economic crisis. The loan is characterized by a duration that can reach up to 22 years (of which 2 for pre-amortisation) and by attention to the industrial plan”.
In fact, the Bank's investigation, on the basis of a shared analysis methodology, will also take into account an investment valuation according to the specific logic of the sector. For this purpose, the information requested by the bank is supplemented by a specific set of data which makes it possible to evaluate the investment taking into account the dynamics of the tourism industry. Alongside the financial partner, a series of synergies have been launched with those system organizations that represent the excellence of Italian production. To access the agreement, the interested hotel companies will have to ask the association for a certificate of membership which must be attached to the documentation delivered to the bank.
