On October 10, 2012 Arenella Immobiliare purchased a hotel property located near Syracuse in Sicily from Blumarin Hotels Sicilia S.p.A. (a wholly-owned subsidiary of Alpitour S.p.A.).

On the same date, Arenella Immobiliare leased the building complex to the same Blumarin Hotels Sicilia for a period of nine years for the period November 1, 2012 – October 31, 2021.

The business purpose of the company is the purchase, management, administration, exchange and sale of properties and building complexes and the non-finance lease of the same.

The value of the property, acquired for €26 million, was increased by the notary costs and the taxes relative to the acquisition of the hotel complex for €1.2 million; after depreciation of the building, the balance at December 31,  2012 is €27 million.

The income statement figures for 2012 are not significant since the Company began the lease and management of the hotel property in October 2012. The year ended with a loss of €0.2 million and derives mainly from the building lease installments for the months of November and December net of operating costs.

Commercial Register No.64236277 Legal notes | Credits