Francesco Ma­sca­ro, Me­dio­cre­di­to: “Bu­si­ness net­works and loyal­ty pro­gram­mes are the win­ning cards”

seeITALY - - Banche - Lau­ra Do­mi­ni­ci

The Grup­po In­te­sa Sa­npao­lo bu­si­ness fi­nan­cing agen­cy dou­bled the amount of fun­ding al­lo­ca­ted to tou­ri­sm com­pa­nies in 2015

“Even du­ring the mo­st dif­fi­cult years, the Grup­po In­te­sa Sa­npao­lo has ne­ver not sup­por­ted the sec­tor”. Spea­king is Francesco Ma­sca­ro, Me­dio­cre­di­to Ita­lia­no tou­ri­sm spe­cia­li­st, be­fo­re an­noun­cing that “in 2015, we gran­ted mo­re than dou­ble the fi­nan­cing of re­cent years to tou­ri­sm com­pa­nies, proof that re­co­ve­ry is on­going and real”. The ma­na­ger re­fers to a big ri­se in re­quests, “a si­gn of in­crea­sed con­fi­den­ce in sec­tor bu­si­nes­speo­ple and grea­ter in­te­re­st by fo­rei­gn ope­ra­tors". Me­dio­cre­di­to Ita­lia­no is the Grup­po In­te­sa Sa­npao­lo bu­si­ness fi­nan­cing agen­cy that sup­ports com­pa­ny in­vest­men­ts and gro­w­th pa­ths, a ben­ch­mark in Ita­ly for spe­cia­li­st fi­nan­cing and lea­sing. It is fir­st in Ita­ly for fac­to­ring and four­th in­ter­na­tio­nal­ly. Th­rou­gh its Tou­ri­sm de­sk, the in­sti­tu­te su­per­vi­ses eve­ry pro­ject in the sec­tor, wi­th spe­cial at­ten­tion to con­ti­nual updates on pro­gress and mar­ket trends, al­so in or­der to un­der­stand its cha­rac­te­ri­stic needs and, as a con­se­quen­ce, struc­tu­re the mo­st sui­ta­ble pro­duc­ts. “The de­sk”, em­pha­si­ses Ma­sca­ro, “car­ries out its ana­ly­sis using spe­ci­fic eva­lua­tion tools crea­ted in-hou­se for the sec­tor, whi­ch al­low for quan­ti­ta­ti­ve and qua­li­ta­ti­ve as­sess­ment of the in­vest­men­ts. To put it ex­tre­me­ly brie­fly, we in­te­gra­te eco­no­mic-fi­nan­cial as­sess­ment of the ini­tia­ti­ve, ba­sed on ty­pi­cal sec­tor va­ria­bles (e.g. TOC, ADR, Re­vPAR), wi­th qua­li­ta­ti­ve as­sess­ment ba­sed on the par­ti­cu­lar cha­rac­te­ri­stics of the ho­tel struc­tu­re (lo­ca­tion, qua­li­ty and si­ze of the struc­tu­re) and its ma­na­ge­ment (ma­na­ger skills, af­fi­lia­tion or other­wi­se wi­th in­ter­na­tio­nal brands)”. A pro­ce­du­re that ena­bles ac­cu­ra­te exa­mi­na­tion from a fi­nan­cial, tech­ni­cal-in­du­strial and qua­li­ty point of view, dra-

wing up an as­sess­ment fo­cu­sed on su­stai­na­bi­li­ty of the cre­dit re­quests. “Then, th­rou­gh the spe­ci­fic tra­vel fac­to­ring tool”, adds the man­ger, “we of­fer tour ope­ra­tors, ho­tel chains, pla­ne com­pa­nies and tra­vel agen­cies, a trans­pa­rent, cen­tra­li­sed pay­ment sy­stem, wi­th a sin­gle con­tact, pro­mo­ting a re­duc­tion in our clien­te­le’s ad­min costs and en­su­ring sup­pliers wi­th the fi­nan­cial flow of cre­dit ma­de to the tra­vel agen­cy, whi­ch in turn be­ne­fi­ts from the free cre­dit and sup­ply pro­cess”. We fi­nan­ce pro­jec­ts for de­ve­lo­p­ment, ac­qui­si­tion, re­fur­bi­shing, ex­pan­sion, new ini­tia­ti- ves and new bu­si­ness models. “We do not ex­clu­de any­thing usual­ly, we ana­ly­se ea­ch in­di­vi­dual pro­ject, as­ses­sing the right in­vol­ve­ment of the ap­pli­cant, the re­lia­bi­li­ty of the ba­sic as­sump­tions and the mo­del of fa­ci­li­ty of­fe­red”, con­ti­nues Ma­sca­ro. The du­ra­tion of the fi­nan­cing and the re­pay­ment me­thods, “are in li­ne wi­th the fi­nan­cial flo­ws ty­pi­cal of tou­ri­sm com­pa­nies and wi­th the du­ra­tion of ma­na­ge­ment con­trac­ts, al­so con­si­de­ring the ove­rall fi­nan­cial struc­tu­re of the pro­ject (ri­sk ca­pi­tal and debt ca­pi­tal). We do not ex­clu­de ope­ra­tions that re­qui­re a du­ra­tion of up to twen­ty years and wi­th tai­lor-ma­de re­pay­ment plans”. “We do not want to re­pla­ce the en­tre­pre­neur, that would be too am­bi­tious”, com­men­ts Ma­sca­ro, “but I do al­low my­self, in any ca­se, to ma­ke a cou­ple of sug­ge­stions to iden­ti­fy mo­ves to put in pla­ce in the short term. We mu­st ho­pe”, he ex­plains, “that ho­te­liers ma­na­ge to re­du­ce the weight of OTAs, th­rou­gh grea­ter client loyal­ty and grea­ter web vi­si­bi­li­ty, as well as con­si­de­ring ag­gre­ga­ti­ve pro­ces­ses th­rou­gh va­rious so­lu­tions su­ch as ho­tel chain loyal­ty pro­gram­mes or the set­ting up of bu­si­ness net­works, even if on­ly to share pro­mo­tion of their lo­cal area”. On the di­gi­tal front, Me­dio­cre­di­to Ita­lia­no is stu­dy­ing a sy­stem that will pro­vi­de clien­ts wi­th “the eva­lua­tion tools adop­ted for our cre­dit ana­ly­sis, wi­th a view to al­lo­wing them to ma­ke pre­li­mi­na­ry ge­ne­ral fea­si­bi­li­ty checks of the ope­ra­tion, in this way rai­sing their aware­ness of the aspec­ts prio­ri­ti­sed by the bank’s ana­ly­sis”.

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