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CDP Equity invests €20.4 million in the owner of hotels and resorts in Italy
CDP Group continued to support the Italian tourism industry after its CDP Equity subsidiary acquired 46% of Hotelturist Spa (TH Resorts) for €20.4 million. With this investment, CDP Group will support the company's development plan, which envisages a five-year growth path.
TH Resorts – in business for 40 years - is one of Italy’s main tour operators: thanks to its 19 facilities of hotels and resorts (8 in Italy’s south). The company hosted more than 700,000 guests in 2016, and employees 5,000 people. With the support of CDP, TH Resorts plans to double its business size, opening more than 10 new hotels over the next five years, an operation expected to include a significate employment increase, boosting its number of employees by 3,500, to 8,500.
The investment in TH Resorts represents a further step in CDP Group’s strategic development goals involving Italian tourism.