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The cities queens of hospitality

21 October, Milano Finanza

Investments record for 1.1 billion euro (+28%)

The Italian hospitality sector continues to register positive signals that encourage the operators interested in managing and buying touristic facilities in the country”. The situation is presented by Filippo Mascellaro, Kensington Branch Manager and CEO (www.groupkensignton.com and www.immobili-luxury.com). The company is the advisor of important international clients operating in hospitality, such as RoccoForte Hotels, Mercury Group, Valamar Hotel, Room Mate, Juweira, Orbit, just to name a few. According to the latest analysis by Kensignton’s research department, this year the sector has grown on average by 9% with investments volumes reaching 1,142 million euro (+28% compared to 2016). What the requirements of the operators? “58% is focused on prime locations such as Milan, the most attractive city, followed by Rome, with 33% of preferences”, explains Mascellaro. “There is great interest also for Florence (27%) and Venice (16%). Among secondary cities, chosen by 17% of the investors, Verona comes first followed by Pisa. It’s not by chance that Tuscany is one of the most interesting regions concerning tourism, thanks to the rising demand from Italian and international tourists. Among beach destinations, 32% of the operators look at Tuscany and Liguria, while concerning mountain, with a demand around 15%, the most popular destinations are in Trentino and Dolomites”.

Nouveau riches like Southern Europe

In the last year, the group has managed transactions for 50 million, with important deals, especially in Rome and Milan. “The experience of 2017 has shown us that most of our investors prefer hotels with at least 100 rooms in AAA position and with a yearly return of minimum 6%. Our clients usually buy property and management”, explains Mascellaro. With eight branches (in Jeddah, Milan, Luxemburg, Changsha, London, New York, Mumbai, and Berlin), the objective for 2018 is to continue attracting investments in luxury properties in Italy. “This remains our core business”, confirms the CEO, even if he’s committed to reaching more and more international clients. “The opening of the Berlin office is a proof. Germany will be the source of many buyers interested in our country. At the same time, it will permit Italians to find again the passion for investing in residential properties for rental purposes, buying in cities like Berlin, which will be the protagonist at European level for the next years. Moscow will be our next destination, with the plan to open an office by 2020”, stresses Mascellaro. Who is buying at the moment? And more importantly, what do the new clients want? “They want a second house in Southern Europe. Spain, Italy, France, and Portugal have still great appeal on the wealthy buyers from Russia, Scandinavia, and China”, explains Mascellaro. All of them want easy access to at least one of the following activities: golf, ski, or beaches. “Italy has a special place in their preferences. The favourite is Costa Smeralda, where with one million euro they can buy 50 Sq m in Porto Cervo. But buyers are also looking for unique pieces at the best price in Maremma and Umbria, with prices around 6 thousand euro per Sq m. Last year, the area with the best performance concerning luxury properties was Como, where the George Clooney effect still continues and prices have risen by 3%”.

Source: Corriere della Sera

Translator: Cristina Ambrosi

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