For a comprehensive review of the Europe market, click below:
HVS In-Depth Europe Hotel Valuation Index:   2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001

Rome has long ranked among Europe’s most visited cities, renowned for its historical significance, cultural heritage and religious importance. The city is also home to several United Nations agencies and serves as a hub for key economic sectors such as tourism, oil and gas, and fashion. Recognised as the world’s fourth most important fashion capital, Rome also hosts Cinecittà Studios, often referred to as the ‘European Hollywood’. With a population of 2.7 million (as of 2025), Rome has an area of 1,285 km², which includes Vatican City, the only sovereign state located entirely within a city. As the seat of the Pope, it remains a significant driver of religious tourism. Rome is served by Fiumicino – Leonardo da Vinci International Airport, where international passenger traffic grew at a compound annual rate of 1.1% between 2016 and 2019. In 2025, the airport handled 55.3 million passengers, 4% above 2024 numbers (which stood at 51.3 million).

Hotel supply in Rome has remained relatively stable, growing only 3% in the decade leading to 2025. Recent developments have been concentrated in the luxury segment, well-suited to the city’s predominantly leisure-driven demand. Around 1,600 rooms are projected to be added over the coming years, representing 3.5% of current supply. Key upcoming openings include the 157-room Rosewood Rome (opening in 2027), the 62-room Brach Roma (opening in Q1 2027) and the 198-room 25Hours Hotel Rome (opening in October 2028).

Before the pandemic, marketwide occupancy in Rome typically oscillated around 70%. Average rate remained relatively stable during that period, with only marginal growth, resulting in relatively flat performance overall. Following the disruption of 2020, Rome experienced a swift rebound. By 2022, occupancy had recovered to nearly 90% of 2019 levels, with full recovery achieved in 2023. Average rate saw double-figure growth each year from 2021 to 2023, and by 2022 was already more than 15% above 2019 in real terms. As of 2024, the market appears to have stabilised, with occupancy consistently above 70% and average rates growing in line with inflation. In 2025, both occupancy and average rates reached new peak levels, with RevPAR now exceeding 2019 levels by more than 40% in real terms. 2025 represented a distinctive year for Rome as it hosted the Catholic Church’s Jubilee Year, a once-every-25-years event which attracted millions of pilgrims. Whilst the Jubilee generated a significant influx of visitors to the city, it may equally have deterred a portion of higher-spending international demand, with travellers from abroad potentially choosing to avoid the city in anticipation of the crowds and disruption associated with the event.

Despite strong investor appetite for Italy and the broader Southern European region, transaction activity in Rome has remained relatively subdued in recent years. Five hotels transacted in 2022 (down from eight in 2019), while only one hotel changed hands in 2023, mirroring the reduced deal flow seen across much of Europe. In 2024, investment activity showed signs of recovery, with four hotel sales recorded: the 109-room Sofitel Roma Villa Borghese (€74 million, €680,000 per key) and the 239-room Hotel Cicerone (€70 million, €293,000 per key) both sold in April, the 351-room Midas Palace Hotel Roma (€60 million, €171,000 per key) sold in May and the 102-room Aldrovandi Villa Borghese sold in December for an undisclosed amount. In 2025, only the 192-room Hoxton Rome transacted as part of a three-property portfolio in January. Early transactional activity has emerged in 2026, with deals including the 62-room Mecenate Palace Hotel and the 191-room ibis Styles Roma (€28 million, €147,000 per key). According to our latest Hotel Valuation Index (HVI), hotel values in Rome increased by 2.3% in 2025.

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Rome RevPAR Change (€Euro)

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For more information, please contact:

	Sophie Perret, MRICS, MBA Managing Director [email protected] +44 0 7725781037 (m)
	Maxime Gauthier Senior Associate [email protected] +44 0 7593572865 (m)