GLOSSARY – SPECIFICATION OF THE MEANING OF SOME OF THE TERMS AND DEFINITIONS USED

For those who wish to learn more, the meanings of some of the terms used are specified below:

The Product

  • The Product is the set of all Objects.

The Objects

  • The Objects that make up the Product are classified into the following categories:
    • Hotels
    • Non-hotel type accommodation facilities
    • Real Estate Investments and Real Estate Development Projects
    • Land and Farms
    • Boats
    • Auctions

The Investors and the Buyers

  • Investors and Buyers are the subjects who have the resources and skills, and who wish to carry out investment projects and purchases of Objects, in quantity and value:
    • large and important in size
    • medium in size
    • small in size
    • limited size and individual items
    • , of any size

The Offer

  • The Offer consists of all the owners of Objects, who wish to sell.

The Demand

  • The Demand is made up of all subjects, Investors and Buyers, who wish to invest and buy.

The Hotels

  • Hotels are a specific category of accommodation, are subject to specific authorization for the exercise of the hotel business and for the exercise of complementary activities, and are classified from one to five stars.

The Extra Hotel Accommodation Facilities or Non Hotel Type Accommodation Facilities

  • Non-hotel type accommodation facilities are a generic and general category of accommodation facilities, are subject to specific authorizations for the exercise of non-hotel type activities and for the exercise of complementary activities, and are classified by ISTAT (Institute Nazionale di Statistica Italiano) in the following categories: B&B, agritourisms, farms, country residences, manor estates, villas, widespread hotels, ancient and historic villages, apartments, residences, campsites, tourist villages, rented accommodation managed in an entrepreneurial form, youth hostels, holiday homes, mountain huts and other nac accommodation establishments (not elsewhere classified).

The Real Estate Investments and the Real Estate Development Projects

  • Real Estate Investments and Real Estate Development Projects are real estate properties, buildings and building land and non-building land, which are in multiple states and conditions, for example:
    • properties in perfect condition and ready to be used
    • properties partially to be redeveloped and restored
    • properties totally to be redeveloped and restored
    • building land with projects not yet approved by the competent authorities
    • building land with projects approved by the competent authorities
    • land with ruins of buildings, without projects, and with building potential to be ascertained
    • properties with projects not yet approved by the competent authorities
    • properties with projects approved by the competent authorities
    • (status and conditions are, in general, specific and variable for each Object)
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