Executive summary
AMCO – Asset Management Company S.p.A. is one of the most relevant players in the Italian distressed credit market. It is a credit management company controlled by the Italian Ministry of Economy and Finance, registered as a financial intermediary pursuant to Article 106 of the Italian Consolidated Banking Act, with share capital of €655,153,674.
As of 31 December 2025, AMCO reported €29.5 billion in assets under management, €1.5 billion in collections, a 4.8% collection rate, group net profit of €26.7 million, group EBITDA of €191.5 million and a CET1 ratio of 41.1%. The company also holds investment grade ratings: S&P BBB+/A-2 with positive outlook and Fitch BBB+/F1 with stable outlook.
For the hospitality market, AMCO should not be viewed merely as an NPL manager. It should be understood as a potential control gateway: a player capable of influencing restructurings, new money, credit disposals, securitisations, changes of ownership, industrial turnarounds and value creation processes involving distressed hospitality assets.
The central thesis of this dossier is clear: in the next cycle of Italian hotel investment, part of the value will not be captured through the direct acquisition of hotels, but through the ability to identify, restructure or acquire the debt underlying distressed hospitality assets.
AMCO may act as a turnaround accelerator when the asset is viable and the industrial plan is credible. Conversely, it may become a pressure factor when the owner is weak, the documentation is incomplete, the hotel business plan is absent or the debt is no longer sustainable.
Why this dossier matters
A growing share of hospitality investment opportunities will not emerge from hotels formally placed on the market, but from distressed credit positions, UTP exposures, restructurings, securitisations and loans backed by hospitality assets.
Those able to read the credit before the asset reaches the market will be able to anticipate the transaction.
In distressed hospitality, competitive advantage does not come only from available capital. It comes from understanding where credit can become control — and where control can become hotel value.
1. The strategic thesis: investors are not only buying hotels — they are buying positions of control
In a traditional hotel transaction, an investor identifies a property, assesses the location, reviews the operating performance, negotiates the price and acquires the asset.
In a distressed scenario, the logic changes. Very often, control over the transaction does not begin with the hotel itself, but with the credit exposure behind it.
Whoever controls the credit can influence timing, procedures, negotiation dynamics, enforcement, restructuring, new capital injection or disposal of the underlying asset. This is the cultural shift that many Italian hospitality operators have not yet fully internalised.
In the hotel sector, distressed credit is not merely a financial exposure. It is a lever that can determine the future of the asset.
| Lever | Impact on the hospitality asset |
|---|---|
| Debt restructuring | Preserves business continuity, but imposes financial discipline |
| New money | Enables capex, refurbishment and repositioning |
| Credit disposal | Opens the door to specialised investors and potential changes of control |
| Enforcement | May lead to forced sale or loss of the asset |
| Agreement with an industrial partner | Turns a financial crisis into a relaunch project |
| Securitisation | Transfers risk to vehicles and investors with a different logic from the originating bank |
The real competition is not always for hotels already on the market. It is often for the credit position that, if correctly interpreted, may become the key to accessing the asset.
2. Who AMCO is: profile, governance and public control
AMCO operates as a full-service credit management company in the non-performing exposure market and states that it adopts a proactive approach to credit management, aimed at enhancing the value of positions and supporting the real economy.
The 2024–2028 Strategic Plan, “Produciamo Valore”, confirms the shift from growth in managed volumes to value generation from the existing portfolio, through greater operational efficiency, process industrialisation and data-driven management.
Governance has been strengthened through the adoption of a one-tier governance model. The system includes a Management Control Committee composed of three independent members within the Board of Directors.
Giuseppe Maresca serves as Chairman of the Board of Directors, while Andrea Munari is Chief Executive Officer. AMCO’s organisational structure includes functions that are highly relevant to its operating model: NPE & Outsourcing, Real Estate, Turnaround & Strategic Finance, Credit Governance, Risk, Compliance, Internal Audit and Capital Management.
Advisory view
AMCO’s governance and management structure are designed to handle complexity: distressed portfolios, real estate collateral, restructurings, external servicing, single-name corporate exposures, recovery processes and new strategic initiatives.
In the hotel sector, this configuration is particularly relevant. A distressed hotel requires credit, real estate, industrial, legal and operational capabilities. AMCO has part of these capabilities internally; however, the quality of execution depends on its ability to integrate credit, real estate and hotel operations into one coherent plan.
3. The numbers: a strong capital base, but a platform in transition
AMCO’s 2025 results show a financially robust operator. The company closed the year with €29.5 billion in assets under management, €1.5 billion in collections, a 4.8% collection rate, group net profit of €26.7 million and a CET1 ratio of 41.1%.
Its capital strength is also confirmed by its investment grade ratings: Fitch BBB+/F1 with stable outlook and S&P BBB+/A-2 with positive outlook.
At the same time, AMCO’s financials indicate a platform in transition. In 2025, total revenues decreased from €437.7 million to €408.8 million, while costs and expenses increased from €200.6 million to €217.3 million. EBITDA declined from €237.1 million to €191.5 million.
| Indicator | FY24 | FY25 | Strategic reading |
|---|---|---|---|
| Total revenues | €437.7m | €408.8m | Pressure on proprietary portfolio returns |
| Costs and expenses | €200.6m | €217.3m | Broader and more expensive operating structure |
| EBITDA | €237.1m | €191.5m | Operating efficiency under scrutiny |
| Group net profit | €28.9m | €26.7m | Positive but not expanding profitability |
| Assets under management | €32.2bn | €29.5bn | Still a highly significant managed portfolio |
| CET1 ratio | 37.4% | 41.1% | Strong capital resilience |
| Group employees | 444 | 743 | Enlarged operating perimeter |
As of 31 December 2025, AMCO Group had 743 employees, compared with 444 at the end of 2024, mainly due to the consolidation of Exacta and Genova High Tech. AMCO itself had 452 employees.
Hotel Management Group view
AMCO does not appear weak from a capital standpoint. Solvency is not the issue. The real challenge is execution: converting volumes, capital and public standing into efficient recoveries while reducing operational complexity, repetitive disputes, documentation issues and reputational risk.
For a hospitality investor, this means that AMCO is a solid counterparty, but not necessarily a simple one. Negotiating with this type of institution requires technical depth, complete documentation, a credible business plan and the ability to demonstrate that the hotel turnaround creates more value than a liquidation scenario.
4. The 2024–2028 strategic plan: from volume to value creation
AMCO’s 2024–2028 Strategic Plan, “Produciamo Valore”, is built around three pillars: generating value from the existing portfolio, supporting households and businesses, and strengthening AMCO’s systemic role in the management of distressed credit in the public interest.
The financial targets include a 6.7% collection rate in 2026, net profit of €50 million in 2026 and €51 million in 2028, assets under management of €32.3 billion in 2026 and €28.5 billion in 2028, and excess capital expected to reach €1.8 billion by the end of the plan.
The plan also envisages greater operational efficiency, specialised in-house and outsourced management, and the strengthening of IT infrastructure and internal processes.
Implications for hospitality assets
This strategic direction is highly relevant to hospitality because distressed hotels are rarely rescued through one single lever. A viable solution typically requires an integrated plan involving:
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debt restructuring;
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a capex plan;
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operational review;
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new money;
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potential brand or operating model change;
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appointment of a professional hotel operator;
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redefinition of the relationship between owner, bank, creditor and investor.
The difference between a hotel that returns to cash generation and a hotel that ends up in liquidation lies in the ability to build a plan that the creditor perceives as superior to the judicial recovery alternative.
5. AMCO and tourism: real presence, still limited disclosure
The relationship between AMCO and the tourism and hospitality sector is not theoretical. In September 2022, AMCO and the Italian Ministry of Tourism signed a memorandum of understanding to promote strategic support and relaunch initiatives for Italian tourism companies.
The press release stated that AMCO would structure specific management solutions to support the recovery of tourism businesses facing temporary financial or industrial difficulties.
This is a key point: AMCO is not described merely as a recovery agent, but as a player capable of structuring management solutions for business rehabilitation. In tourism, this means working with companies that may still have industrial value but are burdened by debt, underinvestment or inadequate ownership structures.
The information gap remains significant. AMCO does not publish, in its main public disclosures, a recurring breakdown of its NPL/UTP exposure specifically related to hotels. We know that there are hotel-related cases, partnerships and initiatives linked to tourism. What is not publicly available is the actual weight of hospitality within AMCO’s overall portfolio.
Hotel Management Group view
This lack of disclosure matters. Investors, hotel owners and advisors would benefit from aggregated information on:
| Data point | Why it matters |
|---|---|
| Hotel/tourism GBV | Measures the actual weight of the sector |
| NPL/UTP split | Shows how much may be recoverable through going-concern strategies |
| Number of assets involved | Helps assess the scale of the opportunity |
| Average ticket size | Indicates whether the portfolio is retail, mid-market or corporate |
| Geographic distribution | Helps assess tourism demand and real estate value |
| Restructuring outcomes | Measures turnaround effectiveness |
| New money granted | Shows the degree of industrial intervention |
In hotel investment, transparency is not a detail. It is what allows a problematic credit exposure to become an investable opportunity.
6. Hotel cases: three intervention archetypes
6.1 Edilmarina / Argentario Golf Resort & Spa: credit-industrial turnaround
The Edilmarina case is one of the most relevant examples. AMCO signed a debt restructuring agreement involving the company that owns the Argentario Golf Resort & Spa in Porto Ercole. BeBeez reconstructed the case, reporting a debt exposure of €23 million, largely linked to MPS and subsequently transferred to AMCO.
Strategic reading
This case represents the most interesting model for the hotel investment market: restructured credit backed by a quality hospitality asset.
The logic is not liquidation-driven. It is industrial: preserving resort value, aligning repayment with operating cash flows and allowing the asset to continue operating.
For investors, cases like this demonstrate that value may emerge not from immediately acquiring the property, but from negotiating a sustainable balance between debt, cash flow and turnaround plan.
6.2 Maritalia / Peschici: refinancing and new money
In its H1 2023 results, AMCO reported its involvement in the reorganisation of Maritalia in Peschici, following the entry of a new shareholder, through refinancing and new money aimed at supporting the refurbishment of the hospitality asset. AMCO became the sole lender in the transaction.
Strategic reading
This case illustrates a second model: restructuring with new governance and relaunch capital.
Under this model, the creditor does not merely recover value. It supports a governance transition and helps make the relaunch of the asset financeable. For distressed hotels, this is often the most efficient path: the former ownership structure is no longer able to support the hotel, but the asset still has value if placed within a new financial and operational framework.
6.3 Ai Cavalieri and Ai Reali, Venice: the transactional route
In January 2022, AMCO, Intesa Sanpaolo and Prelios SGR sold €50 million of gross distressed exposures relating to financing granted to the companies owning the four-star luxury hotels Ai Cavalieri and Ai Reali in Venice. The transaction was structured through a securitisation and involved specialised investors.
Strategic reading
This is the third model: credit disposal to specialised investors.
When an asset is attractive, located in a liquid market and backed by valuable collateral, selling the credit may be more efficient than managing the position internally. In such cases, the hotel may indirectly come under the influence of new players not through a traditional sale, but through the transfer of the credit exposure.
7. The three AMCO models applicable to distressed hotels
Based on public sources and observable cases, three operating models emerge.
| Model | When it applies | What happens to the hotel | Opportunity for investors |
|---|---|---|---|
| Credit-industrial turnaround | Viable asset, recoverable cash flows, restructurable debt | Business continuity, debt rescheduling, possible new money | Entry as industrial partner, operator or turnaround investor |
| Restructuring with new governance | Weak former ownership, new shareholder or investor available | Refinancing, capex, strategic shift, asset relaunch | Value-add transaction with progressive control |
| Credit disposal / securitisation | Attractive asset and liquid market | Credit transfers to specialised investors, often with more assertive strategies | Credit acquisition, competitive processes, distressed acquisition |
Investors must understand that there is not one single market for distressed hotels. There are at least three separate markets:
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hotels requiring financial restructuring;
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hotels requiring refinancing and industrial relaunch;
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hotel-backed credit positions that may be acquired before the hotel formally reaches the market.
8. AMCO’s strengths
8.1 Capital and institutional standing
AMCO has a solid capital base, investment grade ratings, public control and a declared systemic role. These elements allow the company to operate with a longer-term horizon than many private distressed credit players.
8.2 New money and restructuring capabilities
AMCO states that it supports the financial rebalancing of households and businesses and adopts a proactive approach to credit management. In hospitality, this is a decisive lever: many hotels do not fail because of a lack of demand, but because of insufficient capital for product upgrades, rooms, systems, energy efficiency and repositioning.
8.3 Real estate and turnaround focus
AMCO’s management structure includes functions dedicated to Real Estate, Turnaround & Strategic Finance and NPE & Outsourcing. This is consistent with the nature of distressed hotels, where the real estate collateral and the operating business must be assessed together.
8.4 Ability to work with partners
Transactions such as Cuvée confirm AMCO’s ability to work with banks, Prelios and other partners on multi-originator real estate UTP platforms. In the Cuvée project, AMCO and Prelios structured a platform for real estate UTP exposures, with AMCO acting as Master and Special Servicer and Prelios as real estate partner and fund manager.
9. Weaknesses and critical issues: where the risk is concentrated
Capital strength does not eliminate operational risk.
In 2023, the Bank of Italy imposed an administrative fine of €120,000 on AMCO. The relevance of the sanction lies less in its amount, which is modest relative to the scale of the company, and more in the signal it sends: a systemic operator must maintain particularly high organisational, documentation and control standards.
In 2024, AMCO announced that it had reached an agreement with BdM Banca regarding an indemnity and damages claim connected with documentation deficiencies in a €2 billion GBV portfolio of distressed loans transferred by BdM to AMCO in 2020.
In 2024, AMCO also received 868 complaints and petitions, down from 1,091 in 2023 but still significant. Complaints relating to the Italian Central Credit Register totalled 385, equal to 44.35% of total complaints and petitions received.
The complaints report also shows a highly sensitive operating figure: 744 complaints out of 868, equal to 85.71%, related to positions managed in outsourcing.
Advisory view
AMCO’s risk is not primarily capital-related. It is a process risk:
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quality of documentation;
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chain of title;
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complaint management;
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accuracy of credit reporting;
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coordination with external servicers;
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response times;
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consistency between credit exposure, guarantees and enforcement actions.
For distressed hotels, these elements are decisive. An investor assessing a hotel-related AMCO position must conduct due diligence not only on the property and the business plan, but also on the legal and documentary quality of the credit exposure.
10. Risk matrix
| Risk | Level | Drivers | Impact on the hospitality market |
|---|---|---|---|
| Capital risk | Low | High CET1, investment grade ratings, strong equity base | AMCO is a financially solid counterparty |
| Operational risk | Medium-high | Legacy portfolios, management complexity, outsourcing, complaints | Potential delays, errors and more complex negotiations |
| Legal / documentation risk | Medium-high | Past documentation gaps, title chain, guarantees, disputes | Enhanced credit due diligence required |
| Reputational risk | High | Public control, complaints, Central Credit Register issues, institutional visibility | Any issue may become publicly sensitive |
| Hospitality-specific risk | Medium | Lack of hotel portfolio disclosure, capex, seasonality | Hard to estimate the true stock of hotel opportunities |
| Turnaround execution risk | Medium-high | New money, governance, operations, capex | The plan must be financially and industrially credible |
11. The real opportunity: buy the credit, not the hotel
The most sophisticated part of the distressed hospitality market is not the acquisition of hotels already for sale. It is the identification of the credit position before the asset reaches the market.
This is the logic of advanced investors: do not wait for the auction — read the credit first.
A hotel may appear to be off-market, not for sale, still managed by the original owner and not advertised as an opportunity. But if the debt is distressed, if the creditor has lost confidence, if the business plan is no longer credible and if the asset has underlying value, that position may become an investment opportunity.
| Traditional approach | Advanced distressed approach |
|---|---|
| I look for hotels for sale | I look for mispositioned hotel-backed credit |
| I assess price per square metre and EBITDA multiple | I assess debt, guarantees, cash flows and recovery scenarios |
| I negotiate with the owner | I negotiate with creditor, servicer, owner and investors |
| I buy the asset | I may buy the credit, enter a JV, finance capex or acquire post-enforcement |
| I look at real estate value | I assess real estate value + operating value + financial leverage |
For investimentialberghieri.it, this is the strongest strategic message: the best future hotel opportunities will not always be visible in sale teasers; they will often be hidden in NPL and UTP files.
12. Market context: why distressed hotels are becoming central again
The Italian hotel investment market remains attractive. According to JLL, in 2025 the Hotels & Hospitality sector accounted for 14% of real estate investment volumes in Italy, generating €1.8 billion in transactions; including conversion projects exceeding €400 million, the total rises above €2.2 billion.
Cushman & Wakefield reports that in the first half of 2025 the Italian hotel investment market exceeded €1.5 billion, up 85% year-on-year.
CBRE also notes that 65% of surveyed investors expect to increase allocation to central locations in major cities and CBDs, confirming continued capital pressure towards European hospitality.
Hotel Management Group view
This environment creates a compelling tension:
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capital is looking for quality hotels;
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many Italian assets require capex;
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many owners are undercapitalised;
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some hotels carry unsustainable debt;
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banks and credit managers need to maximise recovery;
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investors are seeking opportunities before they become fully competitive.
This is where the market for investable distressed hotels emerges.
13. Due diligence framework for a hotel-AMCO position
A hotel transaction involving distressed debt cannot be assessed through standard due diligence. It requires an integrated approach.
13.1 Credit due diligence
| Area | Key question |
|---|---|
| Credit ownership | Who is the actual creditor: AMCO, SPV, bank, fund or servicer? |
| Chain of title | Are the transfer documents complete, enforceable and consistent? |
| Status of the exposure | NPL, UTP, bad loan, restructured, re-performing? |
| Outstanding amount and interest | Is the amount documented and potentially disputable? |
| Guarantees | Mortgages, personal guarantees, pledges, public or personal guarantees? |
| Creditor strategy | Recovery, restructuring, disposal or enforcement? |
13.2 Hotel due diligence
| Area | Key question |
|---|---|
| Normalised EBITDA | What is the real cash generation capacity? |
| Competitive RevPAR | Is the hotel underperforming its market? |
| GOP and margins | Is the issue operational or structural? |
| Capex backlog | How much capital is required to make the asset competitive? |
| Brand and distribution | Is a franchise, affiliation or management agreement required? |
| Management | Is the current operator part of the solution or part of the problem? |
13.3 Real estate due diligence
| Area | Key question |
|---|---|
| As-is value | What is the asset worth today? |
| Post-capex value | What could it be worth after refurbishment? |
| Alternative use | Is there a more profitable alternative use? |
| Constraints | Urban planning, landscape, licensing or use restrictions? |
| Liquidity | Is there a market for the asset in a disposal scenario? |
13.4 Legal and reputational due diligence
| Area | Key question |
|---|---|
| Litigation | Are there pending disputes, objections, complaints or ABF proceedings? |
| Central Credit Register | Are the reports accurate and up to date? |
| Banking documentation | Are statements, contracts, plans and transfer deeds complete? |
| Guarantors | Are personal guarantees valid or contestable? |
| Local stakeholders | Are there employment, territorial or political implications? |
14. When AMCO is an opportunity and when it is a risk
| Situation | AMCO as opportunity | AMCO as risk |
|---|---|---|
| Hotel in good location with excessive debt | Possible restructuring and new money | Without a plan, enforcement risk increases |
| Cooperative ownership | Potential sustainable agreement | Wait-and-see ownership loses negotiating leverage |
| Asset requiring refurbishment | Capex financing and relaunch | If capex is underestimated, the plan loses credibility |
| Available investor | Orderly entry into capital or credit | If the investor arrives late, the asset may already be sold or securitised |
| Complete documentation | Faster negotiation | Missing documents create disputes and delays |
| Solid hotel business plan | Higher recovery than liquidation | Generic plan is perceived as non-bankable |
15. Operating matrix for different readers
| Profile | What they must understand | What they should do |
|---|---|---|
| Indebted hotel owner | Time works against those without a plan | Prepare business plan, capex plan, forecast and restructuring proposal before litigation |
| Hotel investor | The real opportunity may be in the credit, not the asset already for sale | Map UTP/NPL positions backed by hospitality assets and build channels with servicers, banks, advisors and owners |
| Family office | Distressed hotels require patient capital and operating expertise | Evaluate entry through JV, credit acquisition, capex financing or post-restructuring acquisition |
| Financial advisor | Credit must be translated into an industrial project | Integrate debt restructuring, hotel business plan and recovery scenario |
| Hotel operator | Owner distress may become an operating opportunity | Position as turnaround operator through management agreement, lease or white-label management |
| Bank or servicer | Best recovery may come from continuity, not liquidation | Assess hotel-specific industrial plans, not only real estate collateral |
16. Recommendations for indebted hotel owners
A hotel owner with distressed exposures or tensions with AMCO, a bank or a servicer must avoid three mistakes:
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waiting until litigation begins;
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negotiating without a plan;
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confusing property value with business sustainability.
The proposal to the creditor must be built around one question: which scenario maximises recovery?
It is not enough to say that the hotel “is worth a lot”. The owner must demonstrate:
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normalised EBITDA;
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realistic forecasts;
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required capex;
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new commercial positioning;
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potential entry of an operator or investor;
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sustainability of the restructured debt;
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comparison between going-concern and liquidation scenarios.
An owner who approaches the table with a credible plan can still negotiate. An owner who arrives only with delaying tactics progressively loses control.
17. Recommendations for hotel investors
For investors, AMCO should be monitored as a potential indirect source of deal flow. Not necessarily because it sells hotels, but because it may be involved in credit positions that, if correctly understood, can become transactions.
Possible strategies include:
| Strategy | Description |
|---|---|
| Credit acquisition | Acquire the position and gain negotiating control |
| JV with ownership | Bring capital and expertise while leaving part of the equity with the owner |
| Capex financing | Fund refurbishment in exchange for return and rights |
| Lease agreement | Take over operations through a sustainable rent structure |
| Management agreement | Improve performance without acquiring the asset |
| Post-enforcement acquisition | Enter after a competitive or legal process |
| Partnership with creditor | Propose an industrial solution that maximises recovery |
The most competitive investor will be the one able to speak three languages: distressed credit, real estate and hotel operations.
18. Hotel Management Group
Hotel Management Group, is the vertical advisor that translates distressed credit into an investable hotel project.
The market does not need generic consultants. It needs operators able to integrate:
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debt analysis;
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real estate assessment;
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operational diagnosis;
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EBITDA normalisation;
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capex planning;
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brand and distribution strategy;
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negotiation with creditor and servicer;
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investor identification;
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turnaround plan design.
The value proposition is clear: not merely restructuring debt, but transforming a financial crisis into a platform for hotel value creation.
19. Final assessment of AMCO
The assessment of AMCO must be balanced.
AMCO is a financially strong, institutionally relevant and potentially useful platform for the Italian system. It has capital, ratings, public control, specialist capabilities, ability to work with partners and public cases showing that its approach is not purely liquidation-driven.
At the same time, AMCO presents areas of attention: operational complexity, legacy portfolios, complaints, documentation deficiencies emerged in past transactions, reputational risk and the need to exercise strict control over positions managed directly or through complex servicing ecosystems.
In the hotel sector, AMCO should be viewed neither as a threat nor as a saviour. It should be viewed as a systemic counterparty in credit restructuring and control dynamics.
It can preserve value when the plan is serious.
It can accelerate a change of control when ownership is no longer credible.
It can create opportunities for investors able to read the credit before the hotel.
It can become a relaunch lever when the industrial project is solid.
It can become a pressure factor when the hotel is managed passively or defensively.
The conclusion is clear: in distressed hospitality, the winner is not the investor who simply buys at a discount. The winner is the one who understands, before others, where credit can become control — and where control can become hotel value.
AMCO will not determine the future of Italian distressed hotels alone, but it is one of the key gateways through which many restructurings, refinancings and changes of control may pass. For sophisticated investors, the real competitive advantage will be to identify these positions before they become formally marketed assets.
Hotel Management Group supports owners, investors and family offices in the strategic assessment of indebted hotels, UTP/NPL positions and distressed hospitality assets.
The objective is to transform financial distress into a sustainable, financeable and value-enhancing hospitality project.
Learn more at hotelmanagementgroup.it
Roberto Necci
Sources consulted
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AMCO, investor relations and financial reports – share capital, registration pursuant to Article 106 TUB, ratings and corporate structure.
amco.it -
AMCO, FY25 results – assets under management, collections, collection rate, net profit, EBITDA, CET1, ratings, employees and group perimeter.
amco.it -
AMCO, 2024–2028 strategic plan “Produciamo Valore” – strategic pillars, financial targets, operational efficiency and systemic role.
amco.it -
Bank of Italy, AMCO sanction decision dated 25 July 2023 – administrative fine of €120,000.
bancaditalia.it -
AMCO-BdM Banca, press release dated 3 October 2024 – agreement on indemnity/damages claim concerning documentation deficiencies in a €2 billion GBV portfolio.
amco.it -
AMCO, 2024 complaints report – 868 complaints/petitions, Central Credit Register issues, outsourcing, complaint outcomes and ABF proceedings.
amco.it -
Italian Ministry of Tourism and AMCO, 2022 memorandum of understanding – initiatives to support the relaunch of Italian tourism companies.
ministeroturismo.gov.it -
BeBeez, Edilmarina / Argentario Golf Resort & Spa case – €23 million debt restructuring.
bebeez.it -
AMCO, H1 2023 results – Maritalia / Peschici reorganisation, refinancing and new money for hospitality asset refurbishment.
amco.it -
Credit Village, Ai Cavalieri and Ai Reali Venice – disposal/securitisation of €50 million in UTP exposures linked to two Venice hotels.
creditvillage.news -
AMCO and Prelios, Cuvée project – multi-originator platform for real estate UTP exposures.
amco.it -
JLL, Italy hotels market dynamics Q4 2025 – hotel investment volumes in Italy in 2025.
jll.com -
Cushman & Wakefield, Italy marketbeat 2025 – hotel investment activity in Italy in H1 2025.
cushmanwakefield.com -
CBRE, European hotel investor intentions survey 2025 – investor intentions and allocation towards central locations.
cbre.it
