(Alliance News) - Soges Group Spa announced that it has signed a lease agreement to manage the hospitality business currently named "Hotel Malaspina" in Florence.

Currently, Hotel Malaspina is owned by the company Indipendenza Di Benedetta Torrigiani & C. SAS.

Andrea Galardi, CEO of Soges Group, commented, "We are proud to announce that, just a few weeks after the listing on the Euronext Growth Milan market of Borsa Italiana, we have completed this important transaction. The management of Hotel Malaspina represents an important step forward for us. It is a valuable redevelopment project. The hotel, closed due to the pandemic, has enormous potential and we are excited to bring it back to life, transforming it into a landmark for Florentine hospitality."

"Our decision to invest in this property is strategic because it consolidates the presence in Florence, one of Italy's most important tourist cities, of the Place of Charme brand. Hotel Malaspina is ideally located, within walking distance of the city's main monuments and attractions, and we are confident that it will attract a large number of visitors. We are confident that this transaction will further contribute to Soges' growth and development."

On Wednesday, Soges closed in the green by 2.4 percent at EUR2.10 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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