The Mangia group formalizes the acquisition of the Hotel delle Palme. After theindiscretion published by Dossier And relaunched by the national press, Aeroviaggi – the company that owns the Mangia’s hotel chain – entrusts the details of the move to a press release. Family affairs, previewed exclusively by the in-depth analysis of PalermoToday, are now confirmed directly by the tourism magnates who explain some of the steps that led them to sign the financial operation and the agreement with the historic five-star ultra-luxury hotel in Palermo. By the end of the year, they will thus take over the management of the hotel from the current management.
The Mangia group conquers Via Roma: eyes on the Hotel delle Palme and the former Banco di Sicilia
A millionaire agreement in partnership with Unicredit
Mangia thus closed an agreement, which according to rumors of Dossier it would amount to 30 million euros, with the Algebris Npl Partnership II investment fund: in 2018 they had purchased the Grand Hotel des Palmes at auction for around 12 million. Then the renovation works, with the management entrusted to Mare Resort, whose sole administrator is the entrepreneur Gaetano Corvaia. But things did not go as hoped and Mare Resort, which also manages Sporting in Cefalù and the Metropole hotel in Taormina, would have asked the Palermo court to be able to access the composition with creditors to avoid bankruptcy. The question, according to what we learned from Dossier, was accepted and for the next four months the company should access the protective measures regime. This is where the Mangia family took over.
To conclude the acquisition of the hotel, which boasts 123 rooms and a capacity of up to 250 guests, the support of UniCredit also arrived, which already supports the company in its development plans for other financial operations. The five-star hotel in via Roma, among other things, represents (together with the purchase of Palazzo Favaloro Gallo at the corner of via Cavour which hosted the headquarters of the Banco di Sicilia, bought “sky-earth” for around 2 million euros) Mangia’s first investment away from the sea, alongside the 13 resorts it owns between Sicily and Sardinia. In fact, with the Hotel delle Palme, the group launches the “5-star and 5-star luxury city hotels” line in a city of art. But the discounting seems to have already begun and it is not excluded that Aeroviaggi will land with Mangia’s in other cities such as Rome, Milan and Florence.
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Employment levels guaranteed for the launch of the “city hotel”
Mangia also announces that employment levels will be guaranteed and that the staff of the Grand Hotel et Des Palmes could be totally acquired in the transition: thanks to the redevelopment carried out by the Algebris fund, the five-star hotel is totally renovated with a contemporary, functional and elegant ready for marketing. As soon as the agreements for the turnover with the current management company are defined, the change of pace will contribute to a growth in the group’s turnover of approximately 12 percent starting from 2025. Aeroviaggi Spa, in fact, closed the 2023 with a turnover of 114 million euros and an increase of 40 percent on the previous year.
With the acquisition of this iconic structure of the city we have taken a first step in launching our strategy dedicated to 5-star and 5-star luxury city hotels which we intend to extend to other Italian cities
Marcello Mangia, CEO of Aeroviaggi
In order to give impetus to the development of the new line of “city hotels”, the hotel chain is already thinking about a strategy with important international hospitality brands, as has already happened with other structures (Mangia’s Brucoli is part of Marriott’s Autograph Collection International, while Mangia’s Santa Teresa Sardinia with the Curio Collection by Hilton). From this perspective, the doors of new collaborations with first-rate brands could also open for catering and wellness services. Marcello Mangia, CEO of Aereoviaggi, commented: “For a Group like ours, based in Palermo, the entry of the Grand Hotel et Des Palmes into the portfolio is a source of great satisfaction and pride. With the acquisition of this iconic structure of the city we have taken a first step in launching our strategy dedicated to 5-star and 5-star luxury city hotels which we intend to extend to other Italian cities by integrating structures of the same high level”.
