REAL ESTATE AGREEMENT WITH HALLDIS

Ferragamo real estate

A new holding company integrates the real estate activities of Leonardo Ferragamo and those of the company Halldis, European leader in serviced apartments for managers and tourists. The new holding company will be able to offer 600 serviced apartments in European downtown locations as well as 70 luxury properties in Tuscany and other popular tourism areas in Italy. Ferragamo holds 30 per cent of the shares of this new holding company, Windows on Europe (equity of 1 million euros), and acts as its President. The Managing Director Pietro Martani holds around 31 per cent of the shares, while the other shareholders are Stefano Ghetti (21 per cent), Giancarlo Canavesio (13 per cent) and Cristiano Esclapon (5 per cent). Among the other companies that form part of the new group are Rentxpress (short term online rentals), Global system (office rentals and residences for managers in Italy), Halldis France as well as the two Ferragamo companies Windows on Italy and Gentili & Roy.
The Managing Director Pietro Martani explains: «The aim of this merger is to gain maximum value from the respective assets, while opening up for new opportunities through resource synergies and optimisation of the sales channels. The increased dimensions and the multiple brands will give us a strong standing on the market.». Revenues are expected to grow from 8 million euros to around 10 in 2008, reaching around 15 million in 2009. «Our brands provide us with various expansion opportunities through franchising, acquisitions and joint ventures», says Martani: «The first steps in this direction will regard Verona, Trento and London».

By Simone Fanti

IL MONDO – Friday January 25th, 2008