Revenue for Starhotels reaches an all-time high of 314.8 million in 2024, recording the highest net profit in its corporate history.
Starhotels, a renowned name in the luxury hospitality sector, is set to increase its footprint in Italy for 2025 and beyond. The strategic expansion involves a mix of new acquisitions, historic property refurbishments, upscale urban residential projects, and entry into the resort market.
The Group's latest acquisition is the Hermitage Hotel & Resort in Forte dei Marmi, a four-star property with 59 rooms. This marks Starhotels' debut in the resort segment and reinforces its presence in Tuscany. The resort, slated to reopen in 2026 under the Starhotels Collezione brand, will undergo a comprehensive refurbishment to preserve its historical identity.
In September 2024, Starhotels reopened the iconic 5-star Hotel d’Inghilterra in Rome, reinforcing its footprint in Italy’s luxury hotel market. The summer of 2025 promises significant new additions with two major inaugurations: Hotel Gabrielli in Venice and Teatro Luxury Apartments in Florence.
Hotel Gabrielli, a historic 5-star hotel on Riva degli Schiavoni with 66 rooms and suites, will reopen after an exceptional conservation restoration, preserving its distinguished features. The Teatro Luxury Apartments in Florence, part of one of the city's largest urban regeneration and development projects, will offer 156 luxury residential units, providing a new high-end residential offering in Florence.
Financial backing for these expansions comes from a €350 million ten-year loan, replacing a previous five-year 460 million euros facility. This loan agreement increases economic efficiency and reallocates resources towards enhancing the current real estate portfolio, acquiring new hotel properties, and signing new management agreements under lease and management contract formats.
Elisabetta Fabri, President and CEO of Starhotels, commented that the results confirm the solidity of the business model and the ability to achieve growth even in complex scenarios. The Group's industrial vision aims for selective growth in the hospitality sector through partnerships and acquisitions with entities that share its values of excellence, authenticity, and innovation.
The 2024 consolidated financial statements approved by Starhotels Finanziaria mark a new operational and financial record for the company. The Group reported total revenues of 314.8 million euros, an increase of 2.8% compared to 2023. On a like-for-like basis, Starhotels revenues would have reached 312.5 million euros and EBITDA 104.5 million euros in 2024. Net profit for Starhotels in 2024 was 34.3 million euros, equivalent to 10.9% of revenues, up by 9% compared to 2023.
The best net profit in Starhotels' history, while maintaining excellent margins, is the result of the extraordinary commitment of the entire Starhotels team. The Group's strategic expansion plans are set to cement its status as a leading luxury hospitality brand in Italy for 2025 and beyond.
- The €350 million ten-year loan will aid Starhotels in reallocating resources towards enhancing their current real estate portfolio, acquiring new hotel properties, and signing new partnerships under lease and management contract formats.
- Starhotels' strategic expansion, which includes entry into the resort market and high-end residential offerings in cities like Venice and Florence, aims to cement the company's status as a leading luxury hospitality brand in Italy for 2025 and beyond.
- The Group's industrial vision, driven by partnerships and acquisitions with entities that share its values of excellence, authenticity, and innovation, has resulted in a new operational and financial record with a total revenue of 314.8 million euros in 2024, marking the best net profit in Starhotels' history.
