Mangia's Resorts: Record-Breaking Results

2023 marked the best year ever for the Mangia's/Aeroviaggi Group, achieving revenue of €114 million, a significant increase from €79 million in 2022, along with notable growth in profitability, reaching an EBITDA of €11 million (+33% from 2022).

The joint venture established with HIP/Blackstone proved to be a winning strategy, enabling resort investments and renovations, alongside a repositioning strategy launched in 2021 and still ongoing. The impressive 2023 results affirm the Group's steady growth trajectory, supported by recent partnerships with international hospitality brands such as Marriott International, Hilton, and TUI Blue.

Andrea Mangia, CFO of Mangia's Resorts, states: “We are pleased to have surpassed 2019 levels, particularly in a context of reduced invested capital (joint venture with Blackstone), indicating a higher return on equity for our shareholders. For 2024, we anticipate revenue growth up to €120 million and the announcement of major new projects that will add approximately 700 rooms to our owned and/or managed portfolio.”

The Group's development strategy includes a commercial approach focused on increasing and capturing international demand. While the domestic market remains the primary target by nationality, international guests made up the majority (52%), with notable growth from France, the UK, Germany, and the USA. 

Mangia's Resorts' strong performance in 2023 also benefited from a multichannel commercial strategy that increasingly leverages all distribution partners: organized tourism surpassed 50% of bookings, online travel agencies contributed 24%, and the direct channel grew to represent 18% of total bookings this year.

The partnerships with major global hospitality brands, including recent agreements with Marriott International and Hilton, are essential for capturing the 5-star clientele, particularly from abroad. In this regard, loyalty programs from our partners are key to optimizing these agreements, positioning Mangia's properties on an increasingly international level and boosting sales abroad.

The Group is also advancing an ambitious project to develop a 5-star luxury city hotel line, focusing on an upper-upscale experience that will enhance the Mangia's Resorts collection. Currently, a project is underway to acquire a 5-star luxury property in one of Italy’s top five cities. The city hotel project is envisioned as a long-term expansion, aiming to integrate high-end properties in various Italian cities. This city hotel line is expected to impact total revenue by +12% starting from 2025.

Leading international hospitality brands will also be involved in this new line, as with some of the existing 5-star properties. Mangia’s Resorts' unique offering will be enriched by F&B and wellness services, with the Group exploring possible collaborations with top brands to maximize value and provide guests with a complete high-end experience.

Following the comprehensive refurbishments of Mangia’s Brucoli and Mangia's Santa Teresa in 2023, with a total investment of €50 million, the Group has begun major projects in Sardinia. Specifically, the MClub Marmorata in Santa Teresa, Sardinia, will undergo a full renovation of its rooms, taking into account the large club size and seasonal demands, with completion expected by the end of 2025 when the resort will be repositioned as a 5-star property. Additionally, a stunning infinity pool is being constructed at Mangia's Santa Teresa Sardinia, Curio Collection by Hilton, adjacent to a newly acquired area set to become a beach club. The estimated investment for these renovation projects, along with planned works at Mangia’s Pollina, is €100 million, with an additional €150 million allocated for other projects in the pipeline.

Marcello Mangia, President and CEO of Mangia’s Resorts, comments, “We celebrate our company’s 50th anniversary with exceptional results, the first rewards of our company’s deep transformation. We are fortunate to work in an amazing industry, offering hospitality in a unique country like Italy. Creating value is our goal, and achieving it with these results brings us great satisfaction.”