The value of investments made in Italy in 2024 was staggering, and there are ambitious but realistic projections for further growth by the end of 2025. But what really stands out is the growing prominence of luxury, which, moreover, involves not only big cities but extends to various other destinations, especially leisure.
This is the picture of the Italian hotel real estate sector that emerged from the Hospitality Forum 2025, organized by Scenari Immobiliari and Castello SGR, which captures a period of exceptional growth for the hotel market, following investments of 2.2 billion in 2024 which are projected to reach 3 billion this year, which is to say a 50% increase in just 12 months. With almost 90 transactions completed between 2024 and early 2025, the sector recognizes luxury and upscale hôtellerie as primary drivers of growth, having attracted 60% of investments in the last 18 months.
In short, Italy “is one of the most attractive countries in Europe, with the hotel sector worth up to 30% of real estate transactions,” observes Giampiero Schiavo, managing director and general manager of Castello SGR, affirming the spotlight on new destinations alongside the classic favorites Milan, Rome, Florence, and Venice: new ‘dream-destinations’ in “secondary” cities such as Bologna, Genoa, Naples, Palermo and Verona, as well as many lake and seaside resorts. On the other hand, Italy now has the largest number of luxury destinations from Cortina and Courmayeur to Portofino, the Amalfi Coast, Puglia and Taormina. It is the territory itself that becomes a strategic asset in which investors place their trust, and it is benefitting from this great interest if it is true that “investing in luxury means not only redeveloping hotel assets but also the context in which the hotels are located, with all associated services.”
The future is an optimistic one: the Italian hotel market, buoyed by growing tourist demand - particularly from international visitors - is poised for a five-year period of further development which will position our country among the European leaders in hospitality real estate.”
Mariella Cattaneo
Journalist
