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Italy, the hotel market grows by 14.3%: boom for 4 and 5 stars

The hotel market in Italy is in excellent state. For 2016, in fact, an increase in turnover just slightly under 15% is expected: this is the most significant result of the last six years. And this after a 2014 that was just as positive with an increase in the segment of 10.5%, reaching the 2.1 billion Euros mark. 

The numbers, all positive, emerge from the 2016 edition of the Rapporto Alberghi by Scenari Immobiliari, at its tenth edition. Among the reasons of this exploit there is surely Expo, with its long term beneficial effects.  The Universal Exhibition of Milan, explains the report, has seen a growth in the choice of Italy as a destination for travellers, Italian and foreign, with positive effects on the entire receptive system. Expo had positive echoes even on the hotel real estate market: international chains have important plans for growth in Italy, explains Milano Finanza, and also national operators are active again on the market, with development strategies. 

As can be seen, the liveliness of the real estate market is kept high in 2016 and the estimate for the end of the year is for a turnover that is still in growth, for a total equal to 2.4 billion and with a variation expected to be about +14.3%. The predictions for 2017 are still positive. The Italian hotel branch has renewed itself during the last year for a total of 2.447 rooms, mainly on the high end service, for four and five stars. The amount of new opening is significant, 11 in total (999 rooms), four of which are five stars (for 388 rooms in total). In pipeline are many inaugurations, among which the most expected one being Waldorf Astoria in piazza Cordusio in Milan in the ex building of Unicredit. The growth of the market, concludes the report, is not only concentrated on Milan and Rome, but expands to other significant areas of Italy, such as Venice, Florence, Turin and the South.

 

 

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