“The Milanese hotel real estate market is experiencing a phase of great development and the prospects, also by virtue of the decision to assign the 2026 Winter Olympics to the Milanese capital, are positive. We expect today investments of over 13 billion euros over the next ten years and this number is destined to grow in view of the Olympic moment”. The figure was provided by Mario Breglia, president of Scenari Immobiliari, opening theHospitality Forum 2019, organized in Milan by Real Estate Scenarios in collaboration with Castle Sgr. “Thanks to the upcoming Milan Cortina 2026 Olympics – added Breglia – a further 400 million can be estimated in direct real estate investments linked to the games, from the Olympic village to the other structures to be built, as well as an increase in the hotel offer, based on what happened in the other localities where there were games, by about ten per cent, for a total of three thousand rooms and an investment of no less than one billion euros”.
In short, the positive wave that overturned the image and the economy of the Lombard capital is destined to repeat itself, perhaps in even greater proportions: "If the effect Expo has led to tripling foreign attendance in the last three years, an increase of at least 50% in the next five years can be assumed, for a total of at least ten billion euros, which will be concentrated in the office and commercial sectors. The Games will be an Expo squared. But the impact will obviously not only be on Milan but on the whole country, if it is able to win this challenge of efficiency and quality”. Already in 2018 meanwhile the Italian hotel real estate market recorded a positive trend: the turnover has reached altitude three billion euros of properties exchanged under sales or lease contracts, with an increase by nine percentage points compared to the previous year. The inclination to invest in the sector on the part of institutional investors has increased, increasingly inclined to include the hotel asset class in their portfolios or to increase its share. The forecast for the 2019 are for a further increase in turnover which will reach a total amount of 3,4 billion euros.
The most significant trends in hospitality have been highlighted by data from Scenari Immobiliari by reviewing the most representative interventions, in terms of openings, management changes and renovations, which took place in the last twelve months. Taking into account 28 initiatives, completed between July 2018 and June 2019 for a total of 2.186 rooms, with a majority share of new openings (20 in total), a still dynamic market emerges, albeit with slightly lower levels than the previous year (only in the first half of 2018 there were 24 openings), mainly oriented towards innovative products and towards the luxury segment.
