Hotel Investment in Tuscany
Tuscany recorded 15,027,803 arrivals across its 284 municipalities in 2024, with 57.6% of overnight stays generated by international visitors. It is the largest regional accommodation market analysed in this series.
By Francesco Rozzi, Co-founder & Data Analyst · Updated
What the official record shows
Tuscany is a region rather than a destination, and its hotel market reflects that. Florence operates as a dense international city market; the Val d'Orcia, Chianti and the Maremma operate as dispersed rural markets built on estates, converted farm buildings and small country properties; the coast and the islands operate on a summer season. These are not variants of one market, they are three different businesses.
The regional stock is 617,043 bed spaces across 2,710 hotels, plus a very large extra-hotel sector. For an investor the practical consequence is that "a hotel in Tuscany" is not a category: the due diligence, the operating model and the guest are entirely different between a Florence townhouse and a converted estate an hour south.
The rural segment in particular carries considerations that city assets do not — land, agricultural classification, access, water and wastewater, and the specific Italian regime governing agriturismo — and these are frequently where a transaction becomes complicated.
| Tourism demand — Tuscany | 2023 | 2024 | Change |
|---|---|---|---|
| Arrivals | 14,648,979 | 15,027,803 | +2.6% |
| of which international | 8,129,388 | 8,685,319 | +6.8% |
| Overnight stays | 46,012,302 | 46,220,821 | +0.5% |
| of which international | 25,292,954 | 26,621,227 | +5.3% |
| Accommodation supply — 2024 | Count |
|---|---|
| Bed spaces (all accommodation) | 617,043 |
| Accommodation establishments | 22,371 |
| of which hotels | 2,710 |
| Five-star hotels | 94 |
| Four-star hotels | 504 |
| Three-star hotels | 1,237 |
How we work with international buyers
KW Hospitality is the hotel brokerage division of Keller Williams in Italy. We act for buyers and for owners on the acquisition, sale and leasing of accommodation businesses, and we work in English throughout.
- Brief and search. We establish what you are actually looking for — asset type, size, location, operating model, whether you intend to run it or appoint an operator — and search against it, including properties that are not on the market.
- Verification before commitment. Planning and building status, licences, staff contracts, encumbrances and the accounts are checked before you are asked to commit, not afterwards.
- Negotiation and completion. We negotiate terms and remain involved through to the deed of sale before an Italian notary, coordinating with your own legal and tax advisers.
- Confidentiality. Sale processes for operating hotels are conducted discreetly, because disclosure damages the business being sold.
If you are considering Tuscany, the most useful first step is a short conversation about what you are looking for. Write to us using the form below and we will respond with an honest view, including when we think the market does not suit the brief.
Discuss a hotel acquisition in Tuscany
Tell us what you are looking for. We will tell you what is available, and what is not.
Contact our teamConfidential portfolioFrequently asked questions
How large is the hotel market in Tuscany?
In 2024 Tuscany recorded 15,027,803 tourist arrivals, of which 8,685,319 were international. The accommodation stock comprises 617,043 bed spaces across 2,710 hotels. All figures are from the official ISTAT series.
What share of demand in Tuscany is international?
International visitors generated 57.6% of all overnight stays in 2024. This figure matters to an investor because it measures how far performance depends on inbound travel rather than on the Italian domestic market.
Can a foreign investor buy a hotel in Tuscany?
Yes. There is no general restriction on foreign ownership of Italian commercial property, though the practical requirements — an Italian tax code, a suitable holding structure and, for non-EU buyers, the condition of reciprocity — need to be handled before a transaction starts. See our guide on buying property in Italy as a foreigner.
Are hotels in Tuscany publicly listed for sale?
Most transactions of any size are handled off-market. Owners of operating businesses rarely advertise a sale, because doing so affects staff, bookings and supplier relationships. Access is normally through a broker holding a confidential mandate.
What data does KW Hospitality publish, and what does it not?
We publish the official tourism demand and accommodation supply record, because it is verifiable and it is the same for every buyer. We do not publish yield, rate or valuation figures on public pages: those are specific to an individual property, and a generic number is more likely to mislead than to inform.