Italy’s hospitality industry is changing as lending conditions shift and hotel owner-operators evolve their business strategies. Guido Castellini, senior advisor at Coldwell Banker Commercial, said Italy's trophy assets are not changing hands, but Italian hotels and resorts that are trading are doing so in a sellers’ market buoyed by very good tourism demand.

“New destinations are developing, places where buyers can create value,” he said on a hospitality investment panel at the Italian Hotel Investment Conference, or ITHIC. Marco Comensoli, head of hotels and leisure at business advisory Colliers Italia, said he has seen increased investment interest in resorts.