Italy Hospitality Market Dynamics, Q2 2026

Hotels & Hospitality accounted for over 10% of Italy's total real estate investment volumes in H1 2026, with direct hotel transactions reaching €860 million, with Q2 contributing approximately €500 million.

The sector also benefited from an additional €260 million in conversion projects during H1 2026, primarily office-to-hotel transformations, bringing total investment volumes to approximately €1.1 billion.

Strong tourism fundamentals underpinned investor confidence, with Q1 2026 recording approximately 71.6 million overnight stays (+7.5% YoY), predominantly driven by international demand which represented over half of all arrivals (54.6%).