Market Trends of Hospitality Industry In Italy
Dominating Domestic Brands are Driving the Market
The total number of rooms that belong to international brands and their chains registered a 4.5% increase in 2021, with the addition of around 4,000 rooms to the around 70,000 rooms that existed in 2020. Moreover, the total number of rooms that belong to domestic brands grew exceptionally and recorded more than 113,800 rooms in 2021, which was a growth of around 5.5% over the existing number in 2020. Similar to other leading European Union countries, the hospitality industry in Italy is largely dominated more by domestic and European-born brands and companies than international brands. In Italy, there were approximately 550 international hotel brands and their chains, with over 1,100 domestic and European-born brands.
Highest Brand Expansions Recorded In Italy
The year 2021 recorded highest brand expansions in the country, with expansions, mergers, and acquisitions, not just for Italian brands but also for different European born brands and international brands as well, which reached the threshold of 4 hotels that needed to be considered as a chain. Italian brands topped the list with the entry of more than 143 brands, followed by the United States, France, and Spain. The year also became a milestone for several international brands and their chains to expand their footprint, by having at least one property in Italy, which is one among the leading hospitality markets in the European Union.
