Since being acquired by DoveVivo in 2022, ALTIDO continues to grow with over 50 new apartments added to its inventory.
LONDON, UK – ALTIDO, the fastest-growing property management company in Europe has announced two mergers and acquisitions with Flatty and A&A Apartments & Boats joining the ALTIDO brand.
Continuing ALTIDO’s rapid growth journey
ALTIDO has been on a significant growth trajectory since 2019 when 4 European property management companies came together. Like many travel businesses, they were hit hard by Covid but came out the other side with a large injection of cash under their belt having been acquired by Italian living company, DoveVivo. ALTIDO goes from strength to strength, now growing their inventory with these two combined acquisitions giving them an additional 51 properties.
Davide Ravalli, Co-Founder and Head of Mergers and Acquisitions at ALTIDO said: “The way people are living, working and traveling has changed irreversibly since Covid and we are seeing an increased demand for short-term rental accommodation with bookings rocketing in 2022. We are very pleased to have successfully concluded our M&A deals with two innovative property management companies led by industry professionals like Alex and Federico, now managers of ALTIDO. We are sure they will make a big contribution to ALTIDO to scale the market quickly. ”
Acquisition of Flatty
Flatty, an evolved property management company using technology to manage reservations has a portfolio of 20 apartments divided between Milan, Liguria, and Valle d'Aosta that have now become part of ALTIDO's inventory. Flatty’s owner, Federico Aceto continues his career in short term rentals with the role of retail Business Developer at ALTIDO.
Federico Aceto, owner of Flatty, said: “With ALTIDO's acquisition of Flatty, I was able to realize many years of hard work and become part of an international company that is a leader in the short-term rental industry.”
Acquisition of A & A Apartments & Boats
A & A Apartments & Boats has a portfolio of 31 apartments located between Genoa and the Levante coast, as well as offering a boat rental service have also joined ALTIDO’s inventory. Owner Alex Azzini joins ALTIDO as Area Manager of the Levante area, within an ALTIDO-branded office due to be opened there in June.
Alex Azzini, A&A apartments and Boats, said: “This a valuable opportunity to create synergies and take its values to a higher level and grow together with an ambitious international project.”
Following previous acquisitions in Portugal, ALTIDO has ambitious growth plans for the future and is seeking M&As in all the European countries where they are present, gaining considerable interest from many companies, especially from those who manage a portfolio of up to 50 properties. They are currently in the process of evaluating another 40 potential M&As for a total of 2,000 units that could become part of their inventory.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
