News: Hospitality. Italy leads the positive trend in the first half of 2023 thanks to tourism made in the US.

In the first half of 2023, investment in the hospitality sector is on the rise, mainly driven by international tourist arrivals. Based on data from STR Global, CBRE Research notes that Europe is seeing growth of 20%, while the United States is up just 5%, but well below the Asia-Pacific region, which is up 50%.

But these percentages are projected to decline in the second half of the year and in 2024, especially given the particularly positive dynamics recorded in the first six months of this year.

In Italy, the' 'Particularly in the main urban markets, there is a gradual leveling off of occupancy levels to pandemic levels, accompanied by additional growth in average daily rate (ADR) compared to the same period in 2022, albeit with a slowdown compared to the 2022-2019 trend. The luxury resort segment is expected to grow by at least 20% in 2023, while the mid-range and high-end segments, in some cases, continue the consolidation process, albeit in different situations.

The market is active in the four most attractive Italian cities for foreign tourists - Rome, Venice, Florence and Milan - as well as in popular tourist destinations such as Cortina, Taormina, Puglia and Costa Smeralda. The latter continue' 'actively develop by rebranding existing hotels: in Cortina Mandarin Oriental, Soho House, Falkensteiner and Tribute ed Egnazia will appear, while in Puglia Four Seasons and other brands will continue to consolidate their position in both the luxury and ultra-luxury markets.

Finally, CBRE notes the growing interest in alternative forms of hospitality and eco-tourism in the leisure segment, represented by various "open air" options, from traditional camping to glamping, mobile hotels and ecolodges.