HH Finance plc was incorporated on the 17th January 2018, and was set up to act as a financing and property-holding company. The company is active in the property market with a particular exposure to the hospitality segment. The Company is 99.99% owned by Hugo’s Hotel Ltd and the ultimate beneficial owner of the company is Mr. Hugo Chetcuti.
Bond - The Company, has been authorized by the Malta Stock Exchange to Issue a bond of €5m on the Prospects MTF Market. The 5% HH Finance plc Unsecured 2028 Bond is being issued in order to part finance the acquisition of a Hotel.
Hotel - HH Finance plc purchased a hotel, nestled in the beating heart of Malta’s night life scene, Paceville. It was purchased in an advanced shell stage, and the full sitting out has been tasked to the tenant operator, who will take care of day to day running of the hotel. The hotel has a total of 9 floors, and when completed will have 160 rooms. The Hotel also has an impressive roof entertainment area that includes a pool and a lounge bar/restaurant.
BOARD OF DIRECTORS
Hugo Chetcuti has established himself as a pioneer within the local hospitality industry over the years. Almost 30 years ago, Hugo put his acute business sense and sheer determination to the test and acquired Footloose, which since his takeover has become a key destination for clubbers on the island.
Since then, he has founded a succession of popular bars, restaurants and nightclubs situated in the thriving hub of the island's entertainment quarter. The ‘Hugo’s’ brand has developed into a commodity offering value for money, high quality, leading customer service, excellent food & drink and a unique charm in every venue. In recent years, Hugo has been diversifying into the hospitality sector with the opening of the Hugo’s boutique-hotel, which will be followed this year with the Hugo’s Hotel – a 200 room, avant-garde luxury hotel. This will transform ‘Hugo's’ into nothing less than a full-blown hospitality brand, one that delivers a seamless end-to-end experience for locals and tourists alike.
Ambition and a strong will to succeed have always been at the forefront of all Hugo does. However, Hugo's success has also been built on a foundation of loyalty and respect shown to his staff, consequently resulting in a strong working relationship with his employees.
Luke Chetcuti joined his father’s company at the age of 16, after having attended St. Edwards College (Malta) and The Oratory (UK). His unwavering sense of enthusiasm and deep commitment to the company soon became apparent and within a short period of time, he had been promoted from working behind the bar to Outlet Manager and then Operations Manager of The Hugo’s Group.
Luke immediately set his sights on improving performance, productivity, efficiency and profitability to ensure maximum well-being for the organisation. The Hugo’s Group rapidly increased its market exposure under Luke’s tenure as Operations Manager.
Now, as a Managing Director, both he and his father have identified their objectives to further the company’s prosperity. The expansion within the Hospitality sector with new hotels, franchising the extremely successful Hugo’s Burger Bar and the increased awareness of the Hugo’s brand, both locally and internationally, being the main three areas they plan on developing further.
Recognising that The Hugo’s Group has become a local market leader, Luke has also undertaken the process of restructuring the business in order to create a long lasting competitive edge. Along with his team of highly motivated and experienced professionals. As Director, Luke offers the Board an important company-based perspective. In addition, his particular knowledge of the company’s local markets and industry competitors provides the Board with valuable insight and market expertise.
Benjamin Muscat is a Certified Public Accountant by profession (Fellow of the Association of Chartered and Certified Accountants – FCCA) with a long career in finance and management, holding many senior executive positions.
Mr Muscat has worked in various industry sectors including switchgear manufacturing, food production, beer and soft drink brewing, production and bottling, international fast food franchising, hospitality and timeshare, construction and real estate development - including marketing and selling luxury condominiums.
In his capacity as Chief Executive Officer of MIDI Plc, a Maltese listed company, Benjamin was key in the development of the Tigne' Point Project. Benjamin was also instrumental in the promotion of the regeneration of part of Malta's historical Grand Harbour, including the development of a cruise ship porting facility locally known as the Valletta Waterfront project.
He also has extensive experience in raising project specific funding via banking facilities, third party investment, private placements, issue of equity and debt instruments through retail offers subsequently listed on the Malta Stock Exchange. Today Benjamin provides professional services as a freelance consultant.
Tonio Depasquale is the founder and Chairman of City Advisory, a boutique consultancy firm established in 2012. City Advisory provides advice across all areas related to financial services and management sectors.
Tonio also sits on the board of a number of companies in the financial, shipping, property, offshore marine, construction, health and other sectors.
Tonio retired as CEO of Bank of Valletta p.l.c. in December 2011. He had joined the bank in1969 and held a series of key positions within the group before being appointed CEO in 2004. During his banking career he introduced Corporate Finance services within the group in 1995 and spearheaded the setting up of BOV Stockbrokers Ltd in 2000. He was subsequently responsible for the acquisition by Bank of Valletta p.l.c. of an equity stake in E.I.F. which is the EU’s specialist financial institution for SMEs.
He also sat on the first Board of Governors of Finance Malta and for a number of years he was the Chairman of Malta Bankers Association.