More investments in the mountains to relaunch high-altitude tourism throughout the year
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The Cortina model to be inspired by or to be replicated depends on the case, in order to grow hotel investments in the mountains. The pearl of the Dolomites is at the center of a series of projects for the redevelopment or opening of new hotels launched by operators in the hotel world and specialized investors. The Olympics effect is at the center of the meeting organized by Confindustria Belluno Dolomiti, Confindustria Alberghi, Luiss Business School in collaboration with Cushman & Wakefield and LBS Alumni. The proceedings were opened by Lorraine Berton, president of Confindustria Belluno Dolomiti and Maria Carmela Colaiacovo, president of Confindustria Alberghi. The common thread is research, the attraction of new investments to amplify tourist interest in Alpine destinations where the natural beauty of the area blends with the specialties and traditions of Made in Italy, also thinking of a sort of seasonal adjustment because in the meeting it was repeated several times that the mountain is no longer just snow but a destination to be experienced at 360 degrees in all months of the year. In addition to the territory there is food and wine without forgetting local craftsmanship and manufacturing. The hospitality market share of total real estate investments in Italy has grown in the last decade from 10 to 15%, confirming the strong interest of investors in the hotel sector. In 2022, 1.5 billion euros were invested in Italy, of which two-thirds foreign capital, in the purchase of 56 hotels and resorts for a total of 5,800 rooms. These are the values that emerged during the round table in which it was highlighted how the numbers in other European countries are clearly higher. In his analysis, Alessandro Belli, Head of Hospitality Italy Cushman & Wakefield, president of Alumni Luiss Business School and Adjunct Professor Luiss Business School, highlights the numbers recorded last year by some competitors. France, for example, has seen investments of 3.1 billion in 115 properties for a total of 10 thousand rooms, in Spain 3 billion euros with 105 assets and 15 thousand rooms transacted and even Germany manages to do better than Italy.
The peninsula is penalized by the excessive bureaucracy and the scarcity of information, very often unclear and transparent, on investment opportunities. And this despite the fact that the Italian hotel sector is rapidly returning to pre-pandemic levels in terms of occupancy and has even significantly exceeded them in terms of average daily rate (ADR) and turnover per available room (RevPar). Compliance with ESG criteria for both investors, operators and lenders has an increasingly impact on the sector: today operations with a high sustainability profile are invested and financed while the others are considered off-market. There is strong interest in the mountains, which have enormous growth potential in the near future: Italy is the first European country in terms of surface area of ski resorts and number of resorts, but even in this area there is excessive fragmentation. The number of large ski resorts is significantly lower than in France and Austria.
The two round tables – moderated respectively by Giorgio Palmucci, Vice President of Confindustria Alberghi and Past President Enit and Alessandro Belli, Head of Hospitality Italy Cushman & Wakefield, President of Alumni Luiss Business School and Adjunct Professor Luiss Business School – were attended by Arnaldo Aiolfi, Director delegate for Italy and Director of Southern Europe Development Projects of Club Med; Valeria Ghezzi, President of ANEF; Franco Lentini, Hospitality Development Manager of Enrosadira and Advisor to the Tourism Coordination of Confindustria Veneto; Angelo Wu, Vice President of INVEL Real Estate Partners; Graziano Debellini, President of TH Group; Erich Falkensteiner, President FMTG – Falkensteiner Michaeler Tourism Group; Aldo Melpignano, Founder & CEO Egnazia Ospitalità Italiana and Emanuele Prataviera, Head of Real Estate Investments Finint SGR. In these moments of confrontation the keywords were: sustainability, accessibility, quality of service, seasonal adjustment, simplification, training, human capital, investments and international tourism. In this sense, mountain destinations have the potential to welcome and host tourists all year round as long as they are present, or invest in hotel facilities and structures so as not to lose the attractive effect that the mountains have. Among the topics dealt with on several occasions was also that linked to the lack of personnel and the need for an intervention on the tax wedge which in practice penalizes Italian companies compared to its European competitors. Common opinion is the still unexpressed potential of the many mountain destinations, especially in the eyes of international demand and the relative need for a greater commitment to be allocated to communication activities so as to position the Italian mountain brand on higher market targets.
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