ALTIDO has announced two further acquisitions [Credit: Flatty / ALTIDO]

ALTIDO continues growth trajectory with two acquisitions

UK / Italy: European property management company ALTIDO has announced two mergers and acquisitions with Flatty and A&A Apartments & Boats joining the brand.

It comes less than four months after ALTIDO was acquired by Italian living company DoveVivo, which ensured it emerged from the Covid pandemic with a large injection of financing under its belt and it could grow its inventory with an additional 51 properties through the combined acquisitions.

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,” he added.

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 will continue 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 realise many years of hard work and become part of an international company that is a leader in the short-term rental industry.”

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, which have also joined ALTIDO’s inventory. Owner Alex Azzini will join ALTIDO as area manager of the Levante area, within a 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 further M&A activity in all the European countries where it is present [UK, Italy and Portugal], gaining considerable interest from many companies, especially from those who manage a portfolio of up to 50 properties.

The company says that it is currently in the process of evaluating another 40 potential M&As for a total of 2,000 units that could become part of its inventory.

ALTIDO was originally launched through a merger of four European property managers in 2019, and now manages over 2,000 properties and rooms, including apartments, townhouses, hotels and serviced apartments, across the continent.

Be in the know.

Subscribe to our newsletter »