International tourism flows increased in recent years in Italy, as travellers played it safe and avoided terror-hit destinations such as France. However, beyond this temporary factor, Italy is set to remain a top destination for luxury tourists thanks to its art, culture and tradition; it currently ranks second in Europe after France and ahead of the UK and Germany in terms of inbound tourist flows.
The rise of experiential luxury is benefiting and shaping the luxury hotels (5-star plus) category in Italy. The increasing shift in consumers’ behaviour from “owning” to “being” is leading them to invest more in unique and exclusive experiences.
Luxury hotels has potential for growth in Italy, and the offering will definitely expand over the forecast period. Rome is set to be a focus for players in luxury hotels willing to expand, as it is one of the most glamorous Italian cities.
Starwood Italia remained the leading player in luxury hotels in Italy in value terms in 2017, in a competitive landscape which remains highly fragmented. The company was acquired by Marriott International in 2016, and owes its leadership to St Regis luxury hotels, based in Rome and Florence, but mostly to The Luxury Collection, which includes eight luxury hotels in Italy, such as the prestigious Hotel Danieli, The Gritti Palace in Venice, the Excelsior Hotel Gallia in Milan, three luxury resorts in Costa Smeralda and one luxury resort in Cortina.
Although The Luxury Collection from Starwood Italia has not announced new openings in Italy, the brand will add 12 new hotels in international locations, such as France, Turkey, Cyprus, Armenia, Tasmania, Panama, Mexico, Japan, China and Australia. However, it is likely that the brand will look for new openings or acquisitions over the forecast period in order to further its expansion in Italy, as part of Starwood’s strategy to increase its presence worldwide.
Belmond was the second most important brand in luxury hotels in value terms in 2017, counting on six outlets in Italy, including Hotel Cipriani in Venice, Hotel Splendido in Portofino, Villa Sant’Andrea and Grand Hotel Timeo in Taormina, Hotel Caruso on the Amalfi coast and Villa San Michele in Florence. Belmond focuses on distinctive locations, exclusive and customised service and immersive atmospheres.
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Discover the latest market trends and uncover sources of future market growth for the Luxury Hotels (5-star plus) industry in Italy with research from Euromonitor's team of in-country analysts.
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