Ho­tel, the con­struc­tion in­du­stry en­gi­ne

Ho­tel tra­de dri­ves re­sto­ra­tions and new buil­dings in Ita­ly, bet­ting on tech­no­lo­gi­cal and di­gi­tal in­no­va­tion

Master Meeting - - SCENARI DEL TURISMO - by Bar­ba­ra Ai­nis

A er the years of cri­sis and de­crea­se num­bers, it looks li­ke the re­co­ve­ry me for the con­struc on in­du­stry has co­me. The la­te­st fac­ts in­du­ce cau ous op mi­sm and, a er all, this is exac­tly the in­du­stry trend, that hi­sto­ri­cal­ly reac­ts slo­w­ly to mo­re com­plex pe­riods. The fo­re­casts for 2019 show a gro­w­th pro­spect of 122.6 bil­lion eu­ros, that’s s ll main­ly led by re­si­den al (38,10%), but it is in­crea­sing the num­ber of new buil­dings (15,90%) and of com­mer­cial buil­dings (46% in to­tal, pu­blic/pri­va­te sec­tor). The MA­DE Ex­po, the main fair of ar­chi­tec­tu­re and con­struc on, will open the doors of the 9th edi on in mar­ch 2019, and it has re­cen­tly sub­mi ed the out­co­me of its ob­ser­va­to­ry, ba­sed on ANCE da­ta. Ho­tel tra­de leads this re­co­ve­ry, it sho­ws to be, in the re­cent CRIF Real Esta­te Ser­vi­ces da­ta, the real en­gi­ne for re­sto­ra ons and new con­struc ons in our coun­try. This tra­de is able to con­vey in­vest­men­ts wi­th streng­th and re­si­lien­ce mu­ch mo­re than other real esta­te sec­tors and, espe­cial­ly, it’s hi­ghly fo­cu­sed on tech­no­lo­gi­cal and di­gi­tal in­no­va on and news.

The Real Esta­te re­laun­ch

The de­mand is ta­king back, espe­cial­ly in so­me ci es and re­gions. Ac­cor­ding to ISTAT da­ta, in the fir­st th­ree mon­ths of 2018 the­re was a gro­w­th of real esta­te buy­ing and sel­ling ra­te of 4,2%, com­pa­red wi­th the sa­me pe­riod of la­st year. As MA­DE Ex­po re­port sta­tes, the fa­ste­st gro­wing stock ex­chan­ges are Mi­lan (+ 8,2%), Na­ples (+ 7,4%), Tu­rin (+ 4,9%) and Ro­me (+4,1%). Mo­st of all Mi­lan is in the co­re of this re­laun­ch, who­se re­flec ons in­vol­ve vir­tuou­sly the con­struc on in­du­stry: 6 mil­lion squa­re me­tres of new de­ve­lo­p­men­ts are plan­ned for the next 15 years in Lom­bar­dy ca­pi­tal (su­ch as the Li­fe Scien­ce Park, the ad­di onal two to­wers of

Ci­ty­li­fe, Sca­lo Fa­ri­ni, the pro­jec­ts of Se­gra­te, Ca­sci­na Mer­la­ta and the ex Area Falk). He­re, the top ho­tel­le­rie is able to ma­ke the dif­fe­ren­ce. In­deed, in our coun­try, the cri­sis pro­du­ced a po­si ve ef­fect, in a man­ner of spea­king, on the Ita­lian ho­spi­ta­li­ty of­fer. It re­crea­ted the of­fer, by pro­por onal­ly re­du­cing the num­ber of lo­wer qua­li­ty struc­tu­res (one and two stars) and pro­mo ng, in­stead, the gro­w­th of four and fi­ve stars ho­tel. This orien­ta on to ex­cel­len­ce em­bra­ces tou­ri­sm de­mand qua­li­ta ve evo­lu on and the tou­ri­st quan ta ve gro­w­th in Ita­ly. This trend ha­sn’t stop­ped sin­ce 2014.

Pri­va­te equi­ty, pri­va­te com­pa­nies and qua­li­fied ma­jor in­ve­stors: the mo­st in­te­re­sted to hi­gh end ho­tels

Si­mi­lar­ly, ac­cor­ding to CRIF Real Esta­te Ser­vi­ces da­ta, the ho­tel real esta­te in­ vest­men­ts in­crea­sed from 600 mil­lion eu­ros to 1.2 bil­lion eu­ros bet­ween 2014 and 2017 in Ita­ly, re­pre­sen ng about 1012% in all real esta­te in­vest­men­ts. Al­thou­gh, in the fir­st half of 2018 it has been re­gi­ste­red a de­crea­se com­pa­red wi­th the sa­me pe­riod of 2017, this de­crea­se was si­gni­fi­can­tly lo­wer than that of the to­tal mar­ket. It’s a proof that this seg­ment con nues to be in­te­res ng again­st other ones. Pri­va­te equi­ty, pri­va­te com­pa­nies and qua­li­fied ma­jor in­ve­stors, wi­th a mo­re fo­cu­sed in­te­re­st in hi­gh ran­ge ho­tel fa­ci­li es, are in­ve­stors who turn to the ho­spi­ta­li­ty in­du­stry, a seg­ment whi­ch alo­ne ac­coun­ts for about 80% of the tran­sac ons car­ried out. CRIF Real Esta­te Ser­vi­ces pro­po­ses ben­ch­marks for ho­tel mar­ke­ts by iden ­ fy­ing the ave­ra­ge of mar­ket va­lue for fa­ci­li es and, mo­st im­por­tan­tly, for in­di­vi­dual rooms. The eva­lua ons are ba­sed on

the va­lue per squa­re me­ter and on other so­cio­eco­no­mic da­ta. They show the su­pre­ma­cy of Flo­ren­ce among the big ci es, wi­th a ho­tel ave­ra­ge va­lue of 13.2 mil­lion eu­ros and a mean va­lue of 240 thou­sand eu­ros per room; fol­lo­wed by Mi­lan, wi­th an ave­ra­ge va­lue of 15 mil­lion eu­ros per fa­ci­li­ty and a mean va­lue of 205 thou­sand eu­ros per room, next the­re is Ro­me, whi­ch has an ave­ra­ge va­lue of 12.3 mil­lion eu­ros per fa­ci­li­ty and an ave­ra­ge of 174 thou­sands eu­ros per room. Among the tou­ri­st des na ons, La­ke Co­mo stands out on bo­th si­de, wi­th 8.8 mil­lion eu­ros of ave­ra­ge va­lue per fa­ci­li­ty and 169 thou­sands eu­ros per room.

Sub­si­dies for con­struc­tion in­du­stry

The re­co­ve­ry of the con­struc on in­du­stry, espe­cial­ly, the one re­la­ted to the ho­spi­ta­li­ty sec­tor, is al­so pro­mo­ted by the fi­scal in­stru­men­ts de­ployed and re­con­fir­med for 2019. Fir­st of all, let’s start wi­th the so cal­led “Bo­nus Al­ber­ghi e Agri­tu­ri­smi”. It’s a tax break that was re­con­fir­med and ex­ten­ded by the la­st 2017­2018 Bud­get Law. This law, that has been pro­lon­ged un l 2020, pro­vi­des for the chan­ce to ac­cess a tax cre­dit of 65% on re­struc­tu­ring costs for ho­tels, agri­tou­ri­sms and, ge­ne­ral­ly, to buil­dings for tou­ri­st use. This law in­clu­des: con­struc on re­de­ve­lo­p­ment (ex­traor­di­na­ry main­te­nan­ce in­ter­ven ons, re­sto­ra on and pre­ser­va ve re­co­ve­ry ac vi es, pro­ces­sing mea­su­res); ar­chi­tec­tu­ral boun­da­ries re­mo­val (phy­si­cal bar­riers re­mo­val, plan­ning/rea­li­sa on of areas open to all the peo­ple, the re­mo­val of sen­so­ry bar­riers and com­mu­ni­ca on); in­crea­sing ener­gy ef­fi­cien­cy (ener­gy re­clas­si­fi­ca on, in­ter­ven ons to the buil­ding; par al/full re­pla­ce­ment of air con­di oning sy­stems); the pur­cha­se of fur­ni­tu­re that are ex­clu­si­ve­ly in­ten­ded to ho­tel fa­ci­li es (the re­ma­ke or subs tu on of kit­chens, in­door and out­door fur­ni­shings, fi­xed fur­ni­tu­res, sa­fer floo­ring, the buil­ding of new spas). This tool has be­co­me mo­re ef­fi­cient sin­ce the de­duc on ro­se from 30 to 65%, sin­ce it can be avai­la­ble in two tran­ches along the year ra­ther than th­ree, and sin­ce it can be ap­plied up to 220 thou­sand eu­ros. This tax break can be ap­plied to fa­ci­li es per­for­ming agri­tou­ri­sm ac vi es ac­cor­ding to the Law 96/2006; ho­tel fa­ci­li es, or ra­ther, pen­ding of im­ple­men ng de­crees enact­ment, ho­tels and al­ber­ghi dif­fu­si, ho­tel­ty­pe tou­ri­st re­si­den­ces, ho­tel­vil­la­ges, the fa­ci­li es whi­ch are in­ten­ded as “ho­tel” by spe­ci­fic re­gio­nal la­ws, ther­mal fa­ci­li es (on­ly from 2018). The ap­pro­ved tax cre­dit is 65% of the to­tal amount of the al­lo­wa­ble costs in­cur­red from Ja­nua­ry 1st, 2017 to De­cem­ber 31st, 2018. As ex­po­sed be­fo­re, up to the ma­xi­mum va­lue of 200 thou­sand eu­ros may be gran­ted to ea­ch com­pa­ny wi­thin two­year re­fe­ren­ce. For costs in­cur­red du­ring 2018, it will be pos­si­ble to sub­mit fa­ci­li­ty re­que­st from Fe­brua­ry 18th, 2019.

Gli al­ber­ghi trai­na­no la ri­pre­sa de­gli in­ves men in Real Esta­te. Ho­tels lead the re­co­ve­ry of Real Esta­te in­vest­men­ts

Il se ore al­ber­ghie­ro in­te­res­sa l'80% del­le tran­sa­zio­ni ef­fe ua­te da­gli in­ves to­ri del Real Esta­te. The ho­spi­ta­li­ty in­du­stry ac­coun­ts for the 80% of the tran­sac ons car­ried out by the Real Esta­te in­ve­stors

Mi­lan is in the co­re of this Real Esta­te re­laun­ch Mi­la­no è al cen­tro del ri­lan­cio del Real Esta­te.

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