Tour operator lands grant from Italy's Contratto di Sviluppo programAll Articles
Italian firm Aeroviaggi is set to receive a €5.5m grant and an €8.7m loan to build a new four-star hotel complex in Cefalu, Italy.
Invitalia, the National Agency for inward investment promotion and enterprise development, owned by the Ministry of Economy, signed a development contract with the tour operator for the redevelopment and revitalization of the former village of Valtur Pollina, Sicily. The agreement was signed by Domenico Arcuri, CEO of Invitalia, and Antonio Mangia, Aeroviaggi chairman of the board of directors.
The total investment is €25.6 million, of which €14.2m is granted by Invitalia (€8.7m as a non-repayable soft loan). The company expects to create 66 new jobs.
The tourist facility - located in the province of Palermo, close to Cefalu - will be redeveloped and operated by Aeroviaggi. The new four-star hotel complex will be called "Pollina Resort". The work is set to be completed by May 2017, for the upcoming summer season.
"This agreement - says Domenico Arcuri, CEO of Invitalia - confirms our focus on a strategic sector such as tourism, which we consider a fundamental resource for the country and especially for the South. The reopening of the village of Pollina is done in the belief that investing in beauty generates growth and jobs."
"Thanks to the funding of Invitalia - says Antonio Mangia, Aeroviaggi chairman of the board - the hotel complex Pollina Resort will open on June 9th. The announcement of the reopening has aroused great consensus on the Italian and foreign markets, and we expect the total coverage of 340 rooms throughout the season 2017."
Contratto di Sviluppo provides tax credits, grants and loans to large companies, local or foreign that are investing between 7.5 and 20 million Euros in Italy. It is managed by Invitalia and the budget manly comes from European funds.
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