Industries & Sectors

Hotels & Hospitality

Shaping the future of experiences and the places that make them

Travel, leisure and entertainment are evolving fast, shaped by the experiences people remember long after they leave.

Italy's hospitality real estate sector is in a new cycle. Hotel investment has recently surged, making the country a top performer in Europe for RevPAR growth compared to pre-pandemic times. With limited supply, a boom in international tourism, and a strong showing from luxury and resort markets, success now depends on timing, local knowledge, and sharp execution. To navigate this lively environment, investors, owners, and operators need the right market knowledge. Our team is here to help you find opportunities and act decisively.

DELIVERING RESULTS

+ €3

million in assets transacted over the years

+ 50

management contracts analyzed on average per year

+ 100

hotels appraised on average per year

What Sets Us Apart

Experience-led strategies that drive returns

In Italy's hotel market, success means aligning guest experience with financial goals. We help clients position assets, from boutique hotels to large resorts, to capture premium pricing and high occupancy. Every strategy starts with understanding guest choices to drive returns.

Capital expertise across the lifecycle

We bring deep financial analysis and capital relationships to every Italian transaction. We guide clients through acquisition financing, structured debt, value-add repositioning, and exit strategies for single assets or portfolios.

Insights that uncover opportunity early

Our team tracks hotel investment flows, ADR, RevPAR, and occupancy rates across Italy's key markets. Our proprietary data gives clients the foresight to act before the market shifts, identifying opportunities early.

Advisors who understand the business behind the asset

Our team includes former owners, operators, and developers. We understand Italy's regulatory framework, operator agreements, and the nuances of franchise versus management contract negotiations, going beyond the investment thesis.

Global platform, local precision

We connect international capital with Italian opportunities. Our global hospitality network spans the Americas, APAC, and EMEA, while our local advisors provide the precise market knowledge cross-border investors need.

Strategies built for a changing world

Sustainability and shifting guest expectations are reshaping asset values in Italy. We help clients turn these forces into a competitive advantage through repositioning, ESG-aligned capex planning, and brand alignment.

Services

Our Services

Capital Markets

We advise on hotel acquisitions, disposals, and portfolio transactions. Our deal execution combines rigorous financial modelling, market intelligence, and active buyer/seller networks to deliver optimal outcomes.

Learn more about our capital markets

Asset Management

Choosing the right operator or brand is critical. We advise owners on operating structures and negotiate terms that protect asset value and align incentives, leveraging our deep relationships with hotel chains.

Learn more about our asset services

Valuation & Advisory

Our RICS-qualified valuers cover all hospitality assets in Italy. Appraisals are led by specialists with deep knowledge of Italian operator agreements and investment dynamics, ensuring accurate and insightful valuations.

Learn more about our valuation & advisory

Project & Development Services

With limited hotel supply growth in Italy, development projects are strategic. We guide clients through feasibility, positioning, and capex planning to ensure new supply enters the market with a competitive edge.

Learn more about our project & development services

ESG & Sustainability

We help clients navigate the complexities of environmental, social, and governance factors. Our team provides strategic advice on sustainability initiatives, ESG-aligned capex planning, and reporting to enhance asset value and meet regulatory requirements.

Learn more about our sustainability services

Team

Francesco Calia

Head of Hospitality (EMEA Grade - International Partner))
Milan, Italy

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Research

Research • Investment / Capital Markets

Italian Real Estate Market Trends & Outlook 2024/2025

This report delves into the key transformations shaping Italian real estate, providing valuable insights for investors seeking opportunities amid uncertainty.

Anna Strazza • 13/02/2025

Insights • Sustainability / ESG

Inclusive Cities Barometer

We quantified the social value of our cities. Our bold idea was to map out, track and measure how inclusive our cities are. We introduce the industry’s most comprehensive urban inclusion data set: The Inclusive Cities Barometer.

05/07/2024

Research • Economy

European Outlook 2024

Tailored for investors and property owners, our insights offer a clear path through the complexities of today’s market.

Sukhdeep Dhillon • 11/12/2023

Insights • Economy

Italy Real Estate Market View

A regular update on the commercial real estate market in Italy.

Raffaella Pinto • 23/09/2022

Insights • Investment / Capital Markets

Six Tips from Italian Real Estate

The beginning of 2021 marked the same trend recorded at the end of 2020 for real estate sector in Italy, highlighting a 33% drop in investments compared to the same period of the previous year.

28/04/2021

View all

Frequently Asked Questions

Our RICS-qualified valuers assess trading data, operator agreements, brand positioning, and capex needs alongside market comparables. This requires an integrated understanding of both real estate fundamentals and operational performance, which is especially critical in the luxury and resort segments where guest experience directly impacts asset value.

Operator selection is a critical decision. The Italian market features a mix of international chains and regional brands, each with different fee structures and brand standards. We advise owners on the best operating structure, whether it be a lease, management contract, or franchise, and negotiate terms to protect asset value and ensure long-term success.

Italy is a top performer in Europe for RevPAR growth, driven by strong international tourism and limited supply growth. Investment is high, particularly in value-add strategies and the luxury segment. The imbalance between rising demand and constrained supply creates a durable investment case, but asset selection and execution remain critical.

Sustainability is now a financial consideration. ESG compliance is increasingly demanded by investors and required by EU regulations. Properties that fail to meet these standards risk becoming stranded assets. We integrate ESG assessment into our advisory services to help clients invest in sustainability where it delivers measurable returns and protects future value.

WANT TO KNOW MORE?

If you would like to find out more about our specific expertise, or discover how we could work with your company, please contact a member of our team – we’d be delighted to hear from you.

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