FRI-Tur is the revolving fund for tourism businesses and development investments. This new incentive was created with the aim of improving hospitality services and enhancing accommodation facilities, both in terms of digitalization and environmental sustainability . Fri-tur is an incentive for tourism businesses seeking complete renewal.
Fri-tur incentive for tourism businesses: the financial allocation
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The investments covered by the new incentive are medium-to-large. These projects range from a minimum expenditure of €500.000 to a maximum of €10 million. Naturally, the projects must involve the energy and earthquake-proofing of hotel accommodation facilities, including the elimination of architectural barriers. Other areas eligible for funding include those that strengthen the competitiveness of businesses and facilitate the achievement of new quality standards. All projects must be completed no later than December 31, 2025.
The budget is €780 million. Specifically, €180 million is earmarked for direct funding of the costs incurred, while €600 million will be allocated for the subsidized loan provided by Cassa Depositi e Prestiti. It is important to note that the Cassa Depositi e Prestiti loan activates additional financing of €600 million, provided by banks participating in the agreement signed by the Ministry of Tourism, the Italian Banking Association, and Cassa Depositi e Prestiti.
Fri-tur, the incentive for tourism businesses, is provided for by the National Recovery and Resilience Plan, known as the PNRR , Measure M1C3 investment 4.2.5. The incentive is the responsibility of Invitalia and is promoted by the Ministry of Tourism through the public notice of August 5, 2022.
Subjects admitted to financing and requirements
The subjects who can request the contribution are:
- .
- Farmhouses
- Open air accommodation facilities
- Companies in the tourism, recreational, trade fair and conference sectors
bathing facilities - Spa complexes
- Tourist ports
- Theme parks, including water and wildlife parks
All businesses intending to apply for funding must meet certain requirements at the time of submitting their application.
The requirements set out in the notice are:
- Manage a hospitality or tourist service business in properties or areas owned by third parties or be the owners of the properties where the business is carried out
- The activities must be duly established and registered in the business register
- Be in the full and free exercise of one's rights and not be in a state of voluntary liquidation or bankruptcy
- Have one stable business organisation on Italian territory
- Be in compliance with the provisions relating to building, urban planning, labor regulations, accident prevention, environmental protection and with contributory obligations
- Being in the regime of ordinary accounting
- Have one positive credit rating by a financing bank and a financing resolution issued by the latter, adopting a specific accounting regime if operating in the agricultural or fishing sector
Fri-tur incentive for tourism businesses: how and when to apply
To submit the application, unfortunately, you will have to wait a little longer. The date for submitting applications for the fri-tur incentive for tourism businesses has moved forward.
Interested parties can submit their applications directly on the Invitalia platform starting at 12:00 noon on March 20, 2023.
The Fri-tur incentive for tourism businesses is funded by the Revolving Fund to support tourism businesses and development investments, promoted by the Ministry of Tourism and managed by Invitalia with the participation of the Italian Banking Association, jointly with Cassa Depositi e Prestiti. The resources mobilized for tourism accommodation facilities amount to €1.38 billion.
Applications may be submitted until 12:00 noon on April 20, 2023.
