Fusioni & Acquisizioni

💰 Viajes El Corte Inglés saw a 6.1% sales increase in the first half of the year, with holiday sales jumping 10%. Following a record-breaking 2023, the company's net financial debt reduced to €1.933 billion, 1.7 times its Ebitda.

✈️ Lufthansa to acquire 41% stake in Ita Airways by mid-January, with Brussels' approval expected by end of November. Ita Airways' board to expand from 3 to 5 members, including two from Lufthansa, who will also appoint a CEO. By 2025, Lufthansa plans to increase its stake to 90%, focusing on synergies with Rome's Fiumicino Airport and developments in loyalty programs and lounge access.

📍 Alberto Giorgio, recently appointed as General Manager, is leading a new strategy for inViaggi, a historic tourism brand under the Gruppo Fruit, focusing on experiential and personalized travel. The strategy includes three new product lines: inClub, inTour, and inTrip. inClub offers stays in selected clubs in Italy and other locations, featuring a Local Expert for a tailored experience. inTour provides guided cultural tours, while inTrip caters to independent travelers with customizable experiences. Giorgio emphasizes the addition of branded exclusive clubs and the imminent reveal of the initial offerings.

🎲 Sheraton Diana Majestic in Milan is closing; its management by Marriott International will not be renewed. The hotel, originally the Kursaal Diana baths in the mid-19th century, became a hotel in 1908 and has a history of events including the founding of Football Club Internazionale and a 1921 bombing with 21 fatalities. Currently, 50 employees face job loss due to the closure.

🚤 31 Ottobre 2024, Ft Lauderdale FL – Italian nautical industry attends Boat Show 2024 - FLIBS (30 Oct/3 Nov) to promote 65th Genoa International Boat Show (18-23 Sept 2025). Six US presentations in two years, including New York and Newport. The 64th Genoa Show (19-24 Sept) featured the 5th Design Innovation Award. Italian Trade Agency Miami organized two events (31 Oct & 1 Nov) at FLIBS. Italy's 2023 marine export hit a record $691 million, up 20% from 2022. Italy's boating industry revenue reached €8.33 billion in 2023, with over 30,000 direct jobs. Despite changing 2024 trends, industry prospects remain positive.

💶 A historic record store in a historic district of Naples closes amid an influx of low-quality pizzerias and fry shops that have taken over the streets, with commercial activities conforming until a ban expires in 2026. The U.S. Federal Aviation Administration has established regulations for a new category of electric vertical takeoff and landing vehicles (eVTOLs), marking the first new category since 1940, signifying a potential multimillion-dollar market. In Cinque Terre, the Via dell'Amore is closed again due to a landslide after years of repairs, with reopening dependent on initial safety work. Mexican firm The Place Company, with a 1 billion euro budget, seeks luxury five-star hotels in Europe targeting an 8% gross investment return. The roots of Halloween date back 2,000 years to Ireland, with the Samhain festival marking the end of the harvest season and the beginning of winter. Derry hosts Europe's largest Halloween festival.

🏨 Investment funds are increasingly focusing on the Capital for hotel business opportunities, driven by the steady arrival of foreign tourists. Following the pandemic, the hospitality sector is back in motion. Foreign tourists, particularly high spenders, seek privacy and high-end hotels, as emphasized by a recent article on InOut Review discussing a new super-exclusive opening in Rome. This positions Rome slightly ahead of Milan in the competitive hospitality market, enjoying a boom marked by high traffic data announced by US airlines for connections to Rome Fiumicino.

✈ Ethiopian Airlines partners with Euroairlines to manage both domestic and international routes, expanding access to a network in over 60 countries. Ethiopian, with 78 years of experience, serves 136 international destinations, including 63 African cities. Euroairlines CEO, Antonio Lopez-Lázaro, sees the partnership as a growth strategy in Africa. The alliance also aims to boost Ethiopian Airlines’ connectivity to Central and South America via Madrid, noted by Euroairlines' director Guillermo López-Lázaro.

📍 Ouigo, the low-cost branch of SNCF, launched 10,000 tickets at 1 euro in Spain, following a similar initiative in April. Spanish Transport Minister Óscar Puente previously opposed such aggressive pricing, considering a complaint to the European Union. The move rekindles the debate on commercial policies.

🏩 Emirates signed a memorandum of understanding with Vietnam Airlines and VietJet to enhance connectivity from Dubai to Vietnam via Ho Chi Minh City and Hanoi. The agreement aims to expand their current collaboration, improve connectivity on routes beyond the existing interline partnership, and potentially offer mutual loyalty program benefits. This is part of the UAE's efforts to strengthen economic ties with Vietnam, a key Southeast Asian hub.