The holiday rental market - Italy

The English term "Bed and Breakfast," acronym B&B, refers to a type of informal tourist accommodation. Generally, this choice turns out to be cheaper than classic hotels and offers the possibility of renting either entire apartments or individual rooms. These private homes are upgraded houses that are made available to tourists often as a form of income for those who rent them. This type of solution also does not offer lunch and dinner services but only breakfast, making it a convenient solution when the trip only lasts a few days. Globally, given the globalization, speed, and ease with which it is possible to travel, the market has good growth prospects despite the period of arrest due to the pandemic. In Italy, given the large number of tourists, the Bed and Breakfast market has been very successful since its inception. Today the number of B&Bs is about 30,000 equally divided between northern and central-southern Italy. Almost half of the accommodations remain open throughout the year while the remainder, especially in tourist resorts, work seasonally. On average, a single B&B in Italy offers 350 overnight stays per year at an average cost of 35 euros per person. The number of workers in the sector in Italy is about 45,000. In the past two years, the market in terms of numbers has been deeply affected by the pandemic, which, due to various closures, has sharply decreased, if not canceled, the presence of tourism in the country. Despite this recent trend, the sector is expected to continue to grow, B&B is one of the most flexible and convenient formulas to stay as a tourist. Recently, the "long-term rentals" formula, in which it is possible to book the apartment for longer periods (months) than just a few days or weeks, has had good results.