Starhotels Secures €350 Million financing,Acquires Hermitage Hotel

FLORENCE,italy – Starhotels,the Florence-based hotel chain,has secured new bank financing of €350 million with a ten-year duration. This follows the recent acquisition of the hermitage hotel in Forte dei Marmi, a⁣ 4-star superior property with 59⁢ rooms located 600 meters from the sea.Starhotels ⁢is slated to manage‍ the Hermitage beginning in October ⁢2025.

Strategic Objectives: Expansion and Portfolio Enhancement

The loan,arranged with a banking syndicate‍ including BNL-BNP Paribas,BPER Banca,Banco BPM,Crédit Agricole,MPS,and UniCredit,will be used to replace a previous €460⁣ million loan signed in 2022⁤ and maturing in 2027,according to a press release. The financing aims to provide Starhotels with “adequate financial resources destined for the maintenance and ⁤improvement of the current portfolio and the acquisition of new hotel structures and the stipulation of new management contracts (Lease & Management).”

The company is also preparing to open the Gabrielli hotel in venice in early July. The Gabrielli, owned by the Perkhofer family, is located near Piazza San Marco, overlooking the Riva degli schiavoni.

Elisabetta Fabri heads Starhotels, which boasts 31‍ four- and ⁤five-star hotels totaling 4,200 rooms across Italy, London, Paris, and New York. In 2023, the group reported a turnover of €304⁤ million, a 25% increase, and a gross operating margin of ⁤€105 million, also up 25%.

Starhotels: Securing⁢ Funding and Expanding its Portfolio

What’s the latest news on Starhotels?

Starhotels,⁢ the Florence-based hotel chain, has secured €350 ‍million in new bank financing. This significant financial move ⁤follows the acquisition⁢ of the Hermitage Hotel in Forte dei Marmi.

What are the key details of the €350 million financing?

The financing has a ten-year duration. It was arranged ⁣with a banking syndicate. This financing will replace a previous €460 million loan, originally signed in 2022 and due to mature in 2027.

Which banks are involved in the financing syndicate?

The banking syndicate includes: ‍

• BNL-BNP Paribas
• BPER Banca
• Banco BPM
• Crédit Agricole
• MPS
• UniCredit

what will Starhotels use⁣ the new financing for?

The ⁣€350 ‍million in financing is designated for the ⁣maintenance and improvement of the current hotel portfolio,as well as the acquisition of new hotel structures and the establishment of new management agreements⁣ (Lease & Management).

What is the Hermitage Hotel and where is it located?

The Hermitage Hotel is a 4-star superior property located in Forte dei Marmi. It has 59 rooms and is situated 600 meters from the sea.

When⁢ will Starhotels begin‍ managing the Hermitage Hotel?

Starhotels is⁤ scheduled ⁢to begin managing the Hermitage Hotel in October ⁢2025.

What are Starhotels’ strategic objectives with this financing and acquisition?

The combined effort of⁤ securing new financing and⁢ acquiring the Hermitage Hotel highlights Starhotels’ strategic objectives of ⁣expansion and enhancing its hotel portfolio.

Does Starhotels have any other upcoming projects?

Yes, Starhotels is preparing to open the Gabrielli hotel in Venice in early July.⁣ The Gabrielli hotel, owned by the Perkhofer family,⁤ is conveniently located near Piazza San Marco, overlooking the Riva degli Schiavoni.

Who‍ leads Starhotels?

Elisabetta Fabri heads Starhotels.

How many hotels does Starhotels operate?

Starhotels operates 31 four- and five-star hotels, with over 4,200 rooms.

Where‍ are Starhotels ⁢hotels ⁣located?

Starhotels has locations across Italy, London, Paris, and⁤ New York.

What were ⁣Starhotels’ financial results in 2023?

In 2023, the group reported a turnover of €304 million, a 25% increase. The gross operating margin also saw a 25% increase, reaching €105 million.

Key Highlights: Starhotels at a Glance

Here’s a swift summary of the key facts and figures about Starhotels from ‍the provided content:

Key Feature	Details
New Financing Amount	€350 million
Financing Duration	10 ⁣years
Acquired Hotel	Hermitage Hotel (Forte⁢ dei Marmi)
Rooms ⁢in ⁢Hermitage Hotel	59
Scheduled Hermitage Management Start	October⁤ 2025
upcoming Hotel Opening	Gabrielli ⁢Hotel (Venice) – ⁢early July
2023⁤ Turnover	€304 million (25% increase)
2023 Gross ⁣Operating Margin	€105 million (25% increase)
Total Hotels	31 (four- and five-star)
Total Rooms	4,200