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hospitality Market News: Spanish Real Estate Intelligence

Dla Piper: Italian real estate to achieve investments for 10 billion euro in 2019
04 November, Il Sole 24 Ore Dla Piper forecasts that real estate investments in Italy will likely reach 10 billion euro by the end of the year, outperforming 2018 (8.5 billion). Milan continues leading the market, followed by Rome, Venice and Florence. Offices are the main asset class, together with hospitality, which represents 32% of the total investments (+10% from 2018). Retail and logistics respectively account for 23% and 6% of the investments. NPLs will still offer investment opportunities, although bad loans have reduced now to 1.8% of the total credits. Nevertheless, the market is still reporting large NPL operations, mainly with the State guarantee, with Prelios leading the segment. Operations on the secondary market are an emerging trend, having gone from 2% of the total NPL transactions in 2018 to 30% in 2019. Source: Il Sole 24 Ore Translator: Cristina Ambrosi
 
Altido opened a luxury aparthotel in Milan
4 November, Il Sole 24 Ore Altido opened its first Italian aparthotel in Milan under the pilot project Altido Galleria. The aparthotel was obtained by requalifying a former office building covering a 700 Sq m surface for an investment of 750 thousand euro. The facility offers 12 fully furnished rooms with sizes ranging from 27 to 42 Sq m and available on all the major booking platforms. Altido, which is specialised in alternative hospitality, plans investments in Italy for 10 million euro in the next two years for the conversion of existing assets into hotel facilities. Source: Il Sole 24 Ore Translator: Cristina Ambrosi