The World Capital research department , in collaboration with PKF hotelexperts and the Italian Association Confindustria Alberghi , conducted a study to estimate the value of accommodation facilities in Italy in 2019, mapping the national hotel real estate assets.
The survey, which has currently mapped 266 Italian locations , revealed that the Italian hotel real estate assets exceed the estimated threshold of 117 billion euros , confirming ample room for growth and potential for the sector.
For each region, the tourist destinations were analyzed in detail, dividing them into clusters: seaside, mountains, and cities, identifying for each the number of facilities, rooms, and the property cost per room.
Lombardy stands out among all the regions , imposing itself in each of the hotel categories with a total assets of €8,2 billion for 3-star hotels, €19,3 billion for 4-star hotels and finally €5,7 billion for 5-star hotels.
Focusing on the different clusters, The hotel real estate assets in the city segment in Italy have an estimated value of approximately €36,8 billionIt is interesting to note that The Big 4 are emerging: Milano, Rome, Venice and Firenze, which hold almost 78% of the total hotel real estate assets of the tourist destinations analysedRome alone boasts hotel real estate assets worth over 12 billion euros.
The Italian hotel real estate portfolio in the seaside cluster , on the other hand, has an estimated value of approximately €18,7 billion . Considering the ranking of regions in terms of hotel real estate portfolio, Emilia-Romagna stands out , representing approximately 23% of the total portfolio in the seaside cluster, in first place in the top ten for 3-star properties. Meanwhile, for 4- and 5-star hotels for seaside resorts alone, Campania leads the way with a value of nearly €2 billion.
Finally, the Italian hotel real estate portfolio in the mountain cluster has an estimated value of approximately €3,7 billion . In this segment, Trentino-Alto Adige contributes the most compared to other regions, with approximately 55% of the total measured portfolio. Veneto follows , and in the highly sought-after Cortina d'Ampezzo, the average capacity for four-star hotels is just 49 rooms.
"The aim of the report is to provide a clear picture of the wealth that each area of the Bel Paese offers, also from the hotel real estate point of view.In a market often accused of a lack of transparency, the existing offering outlines its most intrinsic characteristics. - declares Andrea Faini, CEO of World Capital The analysis also aims to give an idea of the overall value of a sector that must be safeguarded and to provide This information is useful for those who want to develop their hospitality business in our country, for those who want to diversify their investment portfolio, and for those who want to offer hotel properties on the market at a reasonable price. By focusing on investments, the Report also allows us to orient research by area, to contextualize the structure being evaluated, and to determine whether to focus on new development rather than the repositioning of an existing structure.”
" The study, a work in progress that will be extensively presented on June 15th during the Hotel & Tourism Forum Milan online , must demonstrate the market's impact from the perspective of real estate assets ," comments Giorgio Bianchi, Managing Director of PKF hotelexperts, " and reiterate the concept that if a hotel is closed, it loses value . Without adequate support for the sector, the risk is that real estate valuations will be downgraded. The impact of Covid-19 on these valuations should not be underestimated, even if it varies from market to market and from property to property. Another observation that emerges from the analysis is that the negative impact of the emergency is more pronounced for independent properties than for chain properties, where belonging to a brand can partially safeguard performance. The signs of decline are less pronounced for resorts and stayhotels that boast a residential component of apartments ."
" This research provides the first snapshot of the hotel sector's real estate value, highlighting the overall importance of this asset ," emphasizes Maria Carmela Colaiacovo, Vice President of Confindustria Alberghi . " However, this snapshot does not take into account the potential market changes in the coming months should the government fail to take strong , targeted, and necessary action to save the sector's economy. This analysis will also be a useful tool for monitoring the sector's performance and identifying speculative initiatives , including those by organized crime, fueled by operators' temporary economic difficulties ."