Who are the key players in Italy Hospitality Market?

Accor SA, InterContinental Hotels Group, Marriott International, Inc, Hilton Hotels and Resorts and Gruppo UNA SpA are the major companies operating in the Italy Hospitality Market. Read More

What years does this Italy Hospitality Market cover, and what was the market size in 2023?

In 2023, the Italy Hospitality Market size was estimated at USD 9.49 billion. The report covers the Italy Hospitality Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Italy Hospitality Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Hospitality Industry In Italy Market Size

Market Size of Hospitality Industry In Italy

Study Period	2020 - 2029
Base Year For Estimation	2023
Forecast Data Period	2024 - 2029
Market Size (2024)	USD 9.61 Billion
Market Size (2029)	USD 10.20 Billion
CAGR (2024 - 2029)	1.22 %
Major Players *Disclaimer: Major Players sorted in no particular order

Italy Hospitality Market Analysis

The Hospitality Industry In Italy Market size is estimated at USD 9.61 billion in 2024, and is expected to reach USD 10.20 billion by 2029, growing at a CAGR of 1.22% during the forecast period (2024-2029).

Worldwide, the tourism sector has been one of the hardest hit industries by the current Covid-19 pandemic. In 2019, Italy was the fifth most visited country in the world, with 94 million foreign tourists. In 2020 it was presumably registered 55% fewer admissions.

The hospitality industry in Italy is recording growing revenues. This growth is attributed to the rising tourism industry, which recorded a growth of EUR 100 billion and welcomed more than 63 million tourists in 2022. The demand from domestic companies and different European Union countries has become the key driver for the tourism industry, and it accounts for around 60% of the tourism industry in Italy. This trend is reflected in the growth of domestic and international branded hotels and their chains, with a double difference in their present rates across the country. International visitors are restricted to Milan and Rome in high numbers, followed by Florence and Venice. With over 45 international 5-star hotels, Rome has become the home of high-end luxury brands.

The hospitality industry in Italy is the largest market, and it occupies the fourth position in the world in terms of the number of available rooms, with a total of around 1 million rooms, preceded by the United States, China, and Japan. Italy is also registering more overnight stays. Most of the international brands have management contracts in the region.

Italy Hospitality Industry Segmentation

The hospitality industry is a broad category of fields within the service industry that includes lodging, food, and drink service, event planning, theme parks, travel, and tourism. It includes hotels, tourism agencies, restaurants, and bars. A complete background analysis of the hospitality industry in Italy includes an assessment of the industry associations, the overall economy, and emerging market trends by segment. Significant changes in the market dynamics and market overview are also covered in the report.

The hospitality industry in Italy is segmented by type and by segment. By type, the market is segmented into chain hotels and independent hotels and by segment, the market is segmented by service apartments, budget and economy hotels, mid and upper-mid-scale hotels, and luxury hotels. The report offers market size and forecasts for Indonesia's tourism and hotel industry in value (USD) for all the above segments.

By Type
		Chain Hotels
		Independent Hotels

By Segment
		Service Apartments
		Budget and Economy Hotels
		Mid and Upper mid scale Hotels
		Luxury Hotels

Need A Different Region Or Segment?

Customize Now

Hospitality Industry In Italy Size Summary

The hospitality industry in Italy is experiencing a steady growth trajectory, driven by the resurgence of the tourism sector, which has seen a significant increase in both domestic and international visitors. The industry is characterized by a robust presence of both domestic and European Union-born brands, which dominate the market landscape. Despite the challenges posed by the Covid-19 pandemic, Italy remains a top destination for tourists, with cities like Rome, Milan, Florence, and Venice attracting high numbers of international visitors. The country's hospitality sector is notable for its extensive range of accommodations, including a substantial number of luxury hotels, particularly in Rome, which hosts a significant concentration of international 5-star establishments. The growth in the number of hotel rooms, both from international and domestic brands, underscores the industry's resilience and its capacity to adapt to evolving market conditions.

Italy's hospitality market is one of the largest globally, ranking fourth in terms of available hotel rooms, with a diverse array of brands operating within its borders. The industry has seen notable expansions, mergers, and acquisitions, with Italian and European-born brands leading the charge. International brands are also seeking to expand their presence, although they face challenges due to the country's strict policies and a strong preference among domestic consumers for local brands. The strategic partnerships and acquisitions by international players highlight the ongoing efforts to penetrate the Italian market further. Despite these challenges, the hospitality industry in Italy continues to thrive, supported by a strong domestic demand and a growing interest from international investors looking to establish a foothold in one of Europe's leading hospitality markets.

Explore More

Hospitality Industry In Italy Market Size - Table of Contents

1. MARKET INSIGHTS AND DYNAMICS
1. 1.1 Market Overview
2. 1.2 Market Drivers
3. 1.3 Market Restraints
4. 1.4 Value Chain Analysis
5. 1.5 Porter's Five Forces Analysis
  1. 1.5.1 Threat of New Entrants
  2. 1.5.2 Bargaining Power of Buyers/Consumers
  3. 1.5.3 Bargaining Power of Suppliers
  4. 1.5.4 Threat of Substitute Products
  5. 1.5.5 Intensity of Competitive Rivalry
6. 1.6 Insights on Revenue Flows from Accommodation and the Food and Beverage Sectors
7. 1.7 Leading Cities in the Italy with Respect to Number of Visitors
8. 1.8 Investments (Real Estate, FDI, and others) in the Hospitality Industry
9. 1.9 Technological Innovations in the Hospitality Industry
10. 1.10 Insights on Shared Living Spaces Impact on the Hospitality Industry
11. 1.11 Insights on Other Economic Contributors to the Hospitality Industry
12. 1.12 Impact of COVID-19 on the Hospitality Industry
2. MARKET SEGMENTATION
1. 2.1 By Type
  1. 2.1.1 Chain Hotels
  2. 2.1.2 Independent Hotels
2. 2.2 By Segment
  1. 2.2.1 Service Apartments
  2. 2.2.2 Budget and Economy Hotels
  3. 2.2.3 Mid and Upper mid scale Hotels
  4. 2.2.4 Luxury Hotels