Twenty-three years after creating it, the Antinori family has sold the Tombolo Talasso Resort in Castagneto Carducci to Cosmopolitan Hotels, a chain comprising seven properties led by Pisan entrepreneur Stefano Bottai. The transaction marks a significant milestone in Italy’s luxury hospitality sector, with Cosmopolitan having already managed the property since 2017 under a lease agreement.

The sale encompasses both the building and the beach concession fronting the hotel, assets that have made Tombolo one of Tuscany’s premier coastal destinations.

While the deal’s value hasn’t been officially disclosed, Tuscan daily Il Tirreno reports the transaction at €28 million. UniCredit played a pivotal role in financing the acquisition, providing €6 million to facilitate the purchase alongside an additional €10 million to refinance an existing mortgage on the property.

The Financial Structure

The €6 million financing enabled the acquisition of 66.24% of Tombolo Beach srl, the entity owning the resort. The purchaser, Talasso Beach Resort srl—wholly controlled by Cosmopolitan Hotel—completed the transaction while Cosmopolitan already held a direct 33.76% stake in the company. Following this deal, Bottai now controls 100% of the resort’s capital.

Legal support came from Gianni & Origoni for the bank, with TDLEX and Studio Marchetti Cecconi of Pisa representing the client, alongside Notary Francesco Steidl of Florence.

“Now we want to consolidate Tombolo’s operations, especially during the winter months,” explained Bottai, who post-COVID decided to keep the hotel open year-round—a strategic shift aimed at maximizing the property’s revenue potential.

Performance Metrics

In 2024, Hotel Tombolo generated approximately €10 million in revenue with 60 permanent employees, a figure that doubles with seasonal staff, according to Il Tirreno. However, Tombolo Beach srl’s 2024 financial statements reveal complexities beneath the surface: the entity reported no revenues but posted a negative EBITDA of €24,900, carrying €10.8 million in net financial debt against equity of €7.5 million.

Despite these figures, Bottai remains bullish: “The acquisition of Tombolo Beach srl fits into a consolidation and development path that has seen significant growth in core business across all group companies. We’re particularly satisfied with achieving this objective in such a rapid timeframe, thanks to UniCredit’s valuable and competent support.”

Banking on Tourism

Andrea Burchi, UniCredit’s Centro Nord Regional Manager, emphasized the strategic importance of the transaction: “This financing operation for Cosmopolitan Hotels spa demonstrates UniCredit’s commitment to Tuscany’s tourism sector—a strategic industry for the regional and national economy. We support its development with dedicated financial resources, specialized teams, and instruments specifically designed for business needs. We’re proud to enhance Italy’s tourism offering by supporting companies in their growth journey.”

A Storied Property

The resort’s origins trace back to 2002, when Piero Antinori personally led a consortium of Tuscan entrepreneurs and financial institutions to acquire a former seaside colony in Castagneto Carducci (Livorno), transforming it into a five-star hotel with an advanced thalassotherapy center.

The original structure, built in 1931 by Società Elettriche del Nord as a vacation colony for employees’ children, maintained that function until 1998.

“We considered it interesting to invest in an area developing from a tourism perspective but lacking high-level hospitality structures,” Antinori explained at the time. “An easily accessible area boasting a particularly favorable climate even during winter, which should help attract clients from Northern Europe. Thalassotherapy is practically a novelty in Italy but is well-developed abroad, especially in France.”

Management Evolution

In 2009, the resort joined international hotel chain Accor’s circuit under a management contract that terminated in February 2011, when the Antinori family resumed direct management.

Since April 2017, Tombolo Talasso Resort has been part of Cosmopolitan Hotels Group, a Tuscan hospitality group that also includes the Grand Hotel in Salsomaggiore Terme, Grand Hotel Continental, Val di Luce Spa Resort in Abetone, and hotels Riva del Sole and Hotel Baia Imperiale on Elba Island.

The acquisition solidifies Cosmopolitan’s position in Tuscany’s competitive luxury hospitality market, combining Bottai’s operational expertise with a trophy asset that carries both the Antinori legacy and significant market potential in Italy’s evolving tourism landscape.

Source: Bebeez

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