Novenero

Novenero, recognized by industry players as one of the top hospitality investment advisory firm, understands that the hospitality industry is evolving rapidly, and in such a dynamic climate, the right advisor can turn complexity into opportunity. Milan-based Novenero, founded in 2012, is a boutique advisory firm specialising in hospitality real estate. It provides real estate hospitality transaction and debt capital advisory, combining strong financial expertise with a pragmatic, hands-on approach. The firm manages M&A processes, from buy and sell-side origination to deal structuring and closing. In debt capital advisory, the firm assists clients in the need of a refinancing, capex financing or bridge financing.

The firm’s work spans the full investment cycle, from core to opportunistic strategies, supporting private and institutional investors, developers, and hotel operators with everything from sourcing and structuring to due diligence, closing, and ongoing asset management.

Managing Partner Andrea Ivancevich brings more than twenty years of experience in corporate finance, asset management, and investment banking. His background in multinational consulting and significant financial institutions shaped Novenero’s model: operational, flexible, and focused entirely on client outcomes. Unlike advisors who rely on pre-packaged strategies, the firm provides bespoke solutions grounded in market realities.

“Our strength lies in being reliable, fast, and able to speak the same language as both institutional investors and entrepreneurial families,” Ivancevich explains. “We design outcomes that are tailor-made, never off-the-shelf.” This approach has proven particularly effective in Italy, where cultural nuance, regulation, and economic factors require precision and agility.

The hotel industry, one of the country’s main economic drivers, is facing increasing complexity. From an operator’s perspective, labour shortages remain a critical challenge, while training programmes must continually adapt to changing guest expectations. Sustainability has also become a strategic priority to ensure compliance and attract an increasingly environmentally conscious guests. At the same time, from a demand perspective, travellers expect seamless digital integration, efficient communication and personalisation. Big data and artificial intelligence now enable hotels to anticipate guest preferences, making technological and service innovation indispensable. In terms of investment, despite recent geopolitical instability, inflation and rising construction costs directly affecting investment returns, in 2024 the industry has maintained a growth trend, demonstrating solid fundamentals. ‘Looking ahead to 2025,’ Ivancevich continues, “we expect further growth in the investment market, thanks in part to falling interest rates and increased demand for luxury destinations and development projects. Enough to say that international luxury brands such as Rosewood, Four Seasons, Mandarin Oriental, Cheval Blanc, Six Senses and Rocco Forte will put together 15 new openings in Italy over the next couple of years.”

From Local Knowledge to Lasting Partnerships

Although Novenero works with international clients, its focus remains firmly on Italy, where understanding local regulations and market practices is crucial. For foreign operators entering the market, the firm’s network of partners in legal, tax, technical, and administrative fields helps bridge the gap between local and international perspectives.

Clients consistently highlight Novenero’s discretion, clarity, and speed, qualities that have secured long-term relationships with asset managers, family offices, entrepreneurs, banks, funds, and hotel brands.

The firm’s adaptability is best demonstrated through its results. In 2024, Novenero was mandated to restructure the debt of a historic leisure hotel. As circumstances evolved, the firm recommended an asset sale instead, approaching a select group of investors and closing the transaction at €80 million within months. Other milestones include refinancing a four-star hotel in Venice, managing operator selections in Rome and Milan, and overseeing the €40 million sale of a Taormina property slated for conversion into a five-star luxury resort. These achievements reflect Novenero’s ability to respond to shifting market dynamics while keeping client value at the core.

In just over a decade, Novenero has established itself as a trusted partner in hospitality investment by staying true to its principles while embracing change. With sustainability, digital innovation, and shifting guest expectations continuing to redefine the sector, its focus on independence, pragmatic advice, and long-term trust ensures it remains well-positioned to guide clients through uncertainty. For investors seeking clarity in a complex market, Novenero offers advice and a trusted hand in turning challenges into opportunities.