Starhotels Closes Record Year, Adds Properties in Tuscany

Starhotels, a hotel group based in Florence and operating internationally, reported record financial results for 2024, with total revenues reaching €314.8 million. The company also posted its highest-ever net profit of €34.3 million.

The results, approved by the board of directors, show a 2.8% increase in revenue over 2023. EBITDA stood at €102.7 million, accounting for 32.6% of total revenue. Adjusted for properties under renovation, the group estimates that revenue and EBITDA would have grown by 6.2% and 4.3%, respectively.

Commenting on the results, President and CEO Elisabetta Fabri noted that the group’s performance reflects the strength of its business model and supports further growth in the high-end hospitality sector.

The company recently secured a ten-year €350 million loan to replace a previous five-year facility. The financing will be used to upgrade existing properties, acquire new ones, and expand through lease and management contracts.

Among the latest developments, Starhotels has acquired the Hermitage Hotel & Resort in Forte dei Marmi. The 59-room, four-star property will reopen under the Starhotels Collezione brand in 2026 after renovations. This marks the group’s debut in the resort segment and strengthens its presence in Tuscany.

In Florence, Starhotels is planning the launch of Teatro Luxury Apartments in summer 2025. The project, developed in partnership with Hines, Blue Noble, and Savills Investment Management SGR, includes 156 high-end residential units in one of the city’s largest urban redevelopment efforts.

The company is also preparing to reopen the Hotel Gabrielli in Venice as a five-star property following a major restoration. This comes after the reopening of the Hotel d’Inghilterra in Rome in late 2024.

Starhotels currently operates 31 hotels and luxury residences with over 4,300 rooms in Italy, London, Paris, and New York.

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