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Fattal announces 150 mln investment in Italy

There are five hotels coming soon and another fifteen in prospect five years from now, as well as new brands that will be announced soon. This is the development target supported by a fund already signed for 315 million euros and potentially capable of activating investments for 1 billion. The projects of the Israeli group Fattal, which in Central Europe, works with the Leonardo Hotels division. In addition to the entire European soil, the plans involve North Africa and the United States.

Revealing the company’s expansion plans was the Vice President Development, Innovation, Project Management of Leonardo Hotels Central Europe, Jan Heringa at the Leonardo Hotels Press Conference held in Milan last Thursday. The development of the group will also involve the Peninsula where they are already present with 5 structures: in Milan, Venice, Rome and Verona. Fattal is therefore preparing to add just as many. The company’s focus is on primary and secondary urban destinations, but also leisure locations on the lakes and along the coasts.

The next five openings are still in the pre-contract phase, so the management has left only a few clues: a Leonardo Royal Hotel in Milan, a NYX in Rome, as well as possible new further openings in Bologna and Turin. To these should therefore also be added a resort in the lakes region with one of the new brands of the group. According to reports from Heringa, for the five pre-contracted hotels, the group has budgeted investments for 150 million euros. As reported by the management, for the expansion in the peninsula Leonardo Hotels would adopt rather flexible development methods since it would evaluate from the acquisition, to the rental, up to management contracts and soon also to franchises.

Finally, as regards the new concepts: in addition to the Collection, the Fattal group is also evaluating a brand economy, as well as a brand for co-working called Rooms already launched in Israel, but which will soon arrive in Europe as well. Master is also being expanded: a brand dedicated to serviced apartments already active in three cities for a total of 53 residential units. The latter brand should soon see new openings in Germany and, as anticipated, also in Italy.

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