A hospitality consulting for US real estate funds entering the Italian luxury hotels market
If you’re scouting for luxury hotel real estate in Italy, or looking to implement your market share strategy, or wealth creation strategy in Italy or simply acquiring and repositioning existing hotels assets consider these tips from Leonardo Annecca, an architect and Hotel asset manager with two decades of experience in New York City developing, repositioning, and managing luxury boutique hotels around the world.
Leonardo Annecca Consulting, his firm just opened and is based in Milan, Italy, and aims to offer a collaborative advisory to American Hoteliers , real estate funds and investors seeking to gain a competitive advantage in the new hotels market in Italy.
Independent hotels in italy as well as 3 star and 4 star hotels in Italy are getting much attention from foreigner investors, Europeans but also american.
And is not all about the beauty and Italian lifestyle to attract more and more funds, especially in Milano.
We are at an interesting point of the upward cycle with much potential to exploit either for new hotel in Italy or hotels in franchise in Italy.
While 6 star hotels in Italy, especially Milano, have grown incredibly, and the market is pretty much saturated, the actual potential is more in the 3 star vs 4 star hotels in italy.
In fact what is a boutique hotel in Italy? So we have to admit that besides the luxury hotels the branding of hotels in Italy as well as the marketing for hotel 4 star is still pretty lacking, a lot of familial management with a very local heritage.
And while area like Milano, rome, Florence, and Venice are possibly overrated, there is an enormous market in other less known cities to turn 3 star, 4 star hotel in italy into luxury boutique
hotel with a very different branding strategy, and also management.
My suggestion is to always expand the traditional key factors on how to open an hotel in italy or how to own an hotel in italy.
- Location: Don’t focus solely on prime locations. Have a broader strategy to develop or reposition a luxury hotel with collateral branding, even when you are not in a prime location. Understand hot to turn a hotel into a destination by applying collateral branding.
- Distinctive Offering: Differentiate your hotel by offering unique features or experiences that set it apart from competitors. Today, it’s about building a community of locals, and then be able to attract visitors and guest with a different mindset. This usually translate in teh capability of hotels of 3 star in Italy to increase their ADR.
- Authenticity and Heritage: Embrace Italy’s rich cultural heritage by incorporating authentic elements into your hotel’s design, decor, and services. Highlight local craftsmanship, artwork, and traditions in a modern way. It is still very difficult for Italian operators to close this gap. Exploit this aspect as the Italian hospitality field is still conservative.
- Exceptional Service: Provide impeccable customer service to ensure guest satisfaction and loyalty. This includes well-trained staff knowledgeable about the local area and attentive to guests’ needs, as well as personalized touches that enhance the overall experience. A simple concierge well trained can be a key competitive advantage in branding an hotel in italy.
- Digital Presence: Invest in a strong online presence and leverage digital marketing channels to reach potential guests and drive bookings. This includes a user-friendly
website, active presence on social media platforms, and positive reviews on travel review websites.
- Sustainability: Incorporate sustainable practices into your operations to appeal to environmentally-conscious travelers. This could involve energy-efficient technologies, waste reduction initiatives, locally-sourced materials, and community engagement programs.
- Networking and Partnerships: Build relationships with local businesses. This might be one of the key factors in gaining a competitive edge.Hotel Marketing in Italy is still pretty much conservative. By developing strategies of collateral branding you are set to redefine the “ what is a boutique hotel in Italy “
- Flexibility and Adaptability: Stay agile and responsive to changing market trends, customer preferences, and external factors such as economic conditions or public health concerns. Offering flexible booking policies and adaptable services can help you stay competitive in a dynamic market.
By focusing on these key factors, you can gain a competitive advantage in the Italian hospitality market and attract discerning travelers seeking memorable experiences in the heart of Italy.