Italy launches €2 billion National Tourism Fund to revive historic hotels

Cassa Depositi e Prestiti (CDP) has approved the creation of the National Tourism Fund (FNT), mobilizing up to €2 billion to revitalize Italy's historic and iconic hotels. The initiative, announced by CDP President Giovanni Gorno Tempini, combines €750 million from CDP, up to €150 million from a fund established under the Decreto Rilancio by the Ministry for Cultural Heritage and Tourism, and additional contributions from third-party investors. The fund aims to prevent the loss of Italy's hospitality identity by offering current owners a right of repurchase within a timeframe aligned with international market recovery. It also promotes reinvestment of sale proceeds into management activities to support employment and improve quality standards. Minister Dario Franceschini praised the fund as a powerful tool for tourism development, a sector hit hard by the COVID-19 pandemic. Maria Carmela Colaiacovo, Vice President of Confindustria Alberghi (Aica), welcomed the measures but expressed concern over the prolonged crisis, calling for enhanced support. The FNT is part of broader government efforts, including the Decreto Agosto, to bolster tourism, a key pillar of the Italian economy.