Italianway, which ranks 955th in the FT 1000, is a platform that offers vacant second homes to tourists. Since it was founded in 2014, it has become the largest short-term rental operator in Italy, it says. In 2019, revenues for Italianway, plus its ancillary businesses in property management and real estate, increased by 30 per cent year-on-year to €5.3m (at Italianway Spa alone, revenues were €4.1m).
Chief executive Marco Celani says the company had expected to double its turnover in 2020 but the onset of the pandemic last spring caused sales to fall almost 100 per cent. As a result, the company has cut its workforce by 25 per cent and revenues reached just €2.8m last year. Yet Celani is confident that 2019 revenue levels will return by 2022.