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This report shows a photograph of the Italian hotel market at the end of 2019*.
The first part analyses the trend in the investment volume with a specific focus on the type of transaction as well as the distribution of the capital invested by geographical area.
The investment volume in the hotel sector grew strongly in 2019, especially when compared with the previous years, reaching € 2.9 billion. Therefore, this asset class became the second after the offices, with a market share of 25%.
In terms of type of transactions, products generating income but more frequently reconversions, resulting in important CapEx to implement, are observed.
In the second part of the document, we analyse the demand, supply and economic performance of the four main tourist destinations in Italy.
We started with Rome which, in 2018, reached almost 30 million presences. It is the first Italian destination to reach this milestone, with volumes almost three times the other cities with very high popularity.
Venice has exceeded 12 million visitors, 85% of whom are international tourists. The Serenissima confirms the importance of the international component to obtain a high ADR so that, also this year, it was found to be the Italian city with the highest ADR.
Milan's performance as a tourist destination continues to grow, consolidating its role and international attractiveness. The presences reach the level of Venice and exceed Florence, even if the business segment remains very important.
Lastly, Florence had the most significant increase in attendance of the four cities analysed. There are also flows and performances typical of a leisure destination that continues in its activity of making the city attractive throughout the year.