Fusioni & Acquisizioni

🏖️ In 2024, global travel industry spending will reach 1 dollar out of every 10 spent. The sector is expected to contribute $11.1 trillion to global GDP (10% of total) with a 12.1% annual growth rate, exceeding 2019's record by 7.5%. The US, China, and Germany will lead travel expenses. Employment in the industry will hit 348 million in 2024, 13.6 million more than pre-pandemic. The US contributed a record $2.36 trillion to its economy last year, while China added $1.3 trillion, and Germany $487.6 billion. The top ten travel economies also include Japan ($297 billion), the UK ($295.2 billion), France ($264.7 billion), Mexico ($261.6 billion), India ($231.6 billion), Italy ($231.3 billion), and Spain ($227.9 billion). China is predicted to become the largest travel market by 2035. International visitor spending is set to grow by 16% this year, reaching $1.9 trillion, while domestic tourism spending is expected to hit $5.4 trillion, a 10.3% increase from 2019.

🚂 Trenord to resume operations of nine train lines on Monday, September 9, after summer interruptions for infrastructure upgrades, impacting Milano Centrale-Domodossola, Milano P. Garibaldi-Arona-Domodossola, Milano-Tirano, Lecco-Sondrio, Sondrio-Tirano, S7 Milano-Lecco, Como-Lecco, Pavia-Vercelli, and Pavia-Alessandria. Substitute bus services will cease, and a transitional period with increased travel times is expected as full speed is gradually reinstated post-upgrades.

📔 Comune di Alessandria invests 9.26 million euros for school canteens (2024-2027), up 859k euros. Over 2500 students to receive balanced menus with organic and local products. CIRFOOD, the contract winner, invested over 1 million euros to modernize the Einaudi cooking center. New menus will be seasonal with a 4-week rotation. Special diets are catered for with separate facilities. Einaudi center provides about 3000 meals daily and has an open day on September 21. "Menu Chiaro" app available for families to monitor meals.

🏡 Preferred Hotels & Resorts, with over 600 properties worldwide, recently added four Italian hotels to their portfolio. Boutique Hotel Stresa, part of the L.V.X. Collection, has a 250-year history and offers 30 accommodations, including 26 suites and 4 spa suites. Hotel Excelsior & Lido in Pesaro, featuring 52 rooms, a SPA, and a private Lido, joins the Lifestyle Collection. Preidlhof Luxury Dolce Vita Resort, near Merano, is an adults-only 5-star hotel with an expansive spa offering. Castello Dal Pozzo, on Lake Maggiore's Piedmont shore, provides 46 unique rooms, gourmet dining, and is set in 24 hectares of parkland. Lindsey Ueberroth, CEO of Preferred Hotels & Resorts, highlighted the significance of these new luxury independent hotel additions.

📖 The Comune di Massa has launched a €27 million project financing for school canteen services over 12 years, recently declared of public utility. The bid, facilitated by Simona Benetti, gives priority to proposer "A. Gazzoli e Soci Srl". PronextSrl estimates a €4.6 million economic benefit for the Comune, with the project serving about 2,000 daily meals across 28 schools and 23 kitchens, totaling 320,000 meals annually. Additional 60 meals are provided daily to other entities. The concession cost for the Comune ranges from €1 to €1.4 million per year, totaling €15.56 million over 12 years. The tender will continue via the Start portal of the Regione Toscana until a new concessionaire is selected, with current service extended to Gazzoli until December at an estimated cost of €1 million.

💰 Grundfos, a global leader in water pump solutions, completed the acquisition of Culligan's Commercial & Industrial (C&I) division in Italy, France, and the UK to enhance its water treatment solutions. Culligan’s C&I division recorded over €100 million in revenue in 2023 with around 400 employees. The acquisition excludes Culligan's residential, office, and on-the-go sectors in these countries, as well as operations in the Middle East, Spain, and North America. This follows Grundfos' recent acquisitions in the water treatment sector, including Eurowater (2020), MECO (2021), and Water Works (2022).

🏦 Ireland's hotel market soared with €655 million in sales during the first half of 2024, nearly quadrupling from €173 million in the first half of 2023. The sale of Dublin’s 265-room Shelbourne Hotel by Kennedy Wilson to Archer Capital was a significant transaction, estimated at almost €260 million. Hard Rock Dublin, after four years, was bought by Leonardo Hotels, rebranded under NYX, leaving no more Hard Rock hotels in the UK or Ireland. Dublin hotel occupancy hit 80% in the first half of the year, with 510 new rooms added and 1,700 under construction. CitizenM and Hoxton are set to open new hotels in Dublin by 2025 and the end of 2024, respectively.

🏢 The Italian Navy's aircraft carrier "Garibaldi", 41 years in service, is being considered for transformation into a "Museo del Mare" and lodging facility in Taranto, managed by MArTa for culture and by private tourism entrepreneurs for hospitality. Taranto is competing with Genoa to host the retired carrier, aiming to enhance the city's tourism and cultural initiatives. Francesco Caizzi of Federalberghi advocates for Taranto, citing its historical significance and potential as a strategic objective for the region's future.

🍪 Mars, Incorporated, a global leader in snacks, foods, and pet care, is purchasing snack and cereal company Kellanova for $35.9 billion, at $83.50 per share. Kellanova, with brands like Pringles® and Kellogg's®, reported $13 billion in 2023 net sales, operates in 180 markets, and employs 23,000 people. Mars' net sales in 2023 exceeded $50 billion, with over 150,000 associates. Mars Snacking, headquartered in Chicago, will integrate Kellanova post-acquisition to expand its global presence.

🛫 Michael O’Leary, CEO of Ryanair, criticized Lufthansa's acquisition of Ita, predicting higher fares for passengers, referencing past increases after Lufthansa's purchases of Austrian and Swiss airlines. O'Leary, speaking in Brussels, sees Ryanair benefiting from its lower fares in Italy, anticipating growth due to Ita's price hikes. He also mentioned that instead of Italian taxpayers, now Germans will cover Ita's losses. O'Leary scoffed at the idea that Ita could challenge Ryanair's dominance, stating they would need to cut prices by 70% to compete.