The National Tourism Fund is born, an initiative of Cassa Depositi e Prestiti which also involves the Ministry of Cultural Heritage and Tourism.
The goal, explains Cdp, lies in the "enhancement of real estate assets, with particular reference to historic and iconic hotels throughout the country".
"Up to 2 billion euros" will be mobilized in 3-5 years, "from Cassa's resources, for a total of 750 million euros, and from additional funds of third-party investors who may be Italian or international investors. instead it will contribute, through a dowry included in the Relaunch decree, up to € 150 million. The CEO of Cdp, Fabrizio Palermo, explains how the initiative is part of the support strategy for the sector, defined as "driving" and "key" for the Italian economy, given "which represents 13% of GDP and 15% of employment". The Fund, it is explained, "will be able to grant the current owners a right of repurchase to be exercised within a reasonable period of time compared to the estimates recovery of the international hospitality market.
Where possible, moreover, the reinvestment of the proceeds from the sale in management activities will be promoted, supporting employment and the improvement of the quality standards of the country's hotel chains. "Cdp underlines how the strategy to support the tourism sector hinges on four pillars, around which all support actions are developed. There is training, with the creation of the Italian School of Hospitality, aimed at qualifying a new managerial class in the sector. Another point considered fundamental is innovation, which accompanies the financing initiative for eleven startups, with a focus on digitization and sustainability. The work of consolidation is also central, for the creation of "national champions in the management of hotel facilities". To all this is added, in fact, the effort for the modernization of buildings and CDP already has an investment of 160 million euros with the purchase, in recent years, of seven
and accommodation facilities.
Thus the Fund, Palermo points out, "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".
For the Minister for Cultural Heritage and Activities and Tourism, Dario Franceschini, it is a "powerful tool to support the development of the tourism sector".
The Fund, the minister points out, "is an operation that looks to the future, because tourism will return stronger than before".
The president of CDP, Giovanni Gorno Tempini, clarifies the nature of the initiative which reflects a "long-term commitment", in line with a "patient" investor such as Cassa Depositi e Presiti.
In collaboration with:
CDP
