Upcoming Trade Shows Milan, Italy for Hospitality

Italy has had a long tradition in the hospitality sector and it’s unique compared to other European countries in that its market is populated mostly by independent and family-owned hotels that have been passed down through the generations. However, the pandemic coupled with rising economic pressure might change this and Milan’s hospitality industry will be the first one to experience the oncoming wave of franchising. International operators set their sights on the Italian market and we’re seeing a shift in ownership dynamics According to Claudia Bisignani, head of hotels and hospitality for Italy at business advisory JLL, the traditional dominance of domestic families in hotel ownership is giving way to new opportunities. With second and third generations showing less interest in hotel ownership, many family businesses are considering exits, which opens the door for international players to enter the market. In an interview with Hotel News Now, Bisignani highlighted the changing dynamics shaping Italy’s hospitality landscape. She noted that increased competition and changing consumer behaviors are prompting many owners to explore selling their properties. Vera Roselli, account manager for Italy at STR, echoed these sentiments. She attributes Italy’s success to a variety of factors that have been in motion even before the COVID-19 pandemic. Despite challenges such as stalled occupancy rates, Italy continues to attract international tourism with its rich cultural heritage and diverse landscapes. The resurgence of American tourists over the summer signals a return to normal, proving that Italy has not lost its appeal as an international destination. Demand and average daily rates climb fast, shaking off the stagnation of the past three years, and Milan positions itself as the best choice for investors seeking high potential and value-added opportunities in the hospitality sector. In June and July, Milan recorded average daily rates of €271.84 and €263.89.