Florence Cements Its Status as a Luxury Travel Powerhouse With a Wave of New Hotel Openings
Italy has long drawn travelers seeking la dolce vita, and hotel groups are betting big on the Bel Paese. According to the EY Italy Hotel Investment report for 2025, hotel investments in the country hit 2.5 billion euros last year—a 19 percent jump from 2024 and 35 percent above the previous decade’s average. It was the highest level since the early 2020s. Rome, Milan, Venice, and Florence accounted for 55 percent of that total.
Florence, in particular, is seeing a surge in high-end openings and restorations through the end of 2026. New projects include Palazzo Morrocchi by Stanley Collection Group, Palazzo Ruspoli Florence, La Réserve Firenze, Villa San Michele (a Belmond Hotel), and Borgo Pignano Florence. “Florence is now at the center of major international investments in tourism,” said Maurizio Tistarelli, general manager of Palazzo Ruspoli. “Approximately 60 percent of international investors see Italy as the leading European hub for high-end tourism over the next three years.”
Stan Zingel of Stanley Hotels called Florence a “luxury tourism hub,” thanks to its Medici history, museums, and year-round events. But the city is evolving. Piero Magrino of Borgo Pignano noted that visitors are now discovering craftsmanship, wellness, and a more residential side of Florence. “There is a growing appreciation for properties that offer space and tranquillity within the city itself,” he said.
The new hotels aim to spread tourism beyond peak seasons and iconic landmarks. Raouf Finan of Michel Reybier Hospitality said residential-style properties like La Réserve invite guests to experience Florence year-round, easing pressure on infrastructure. Florence saw over 4 million arrivals and 9.7 million overnight stays in the first ten months of 2025.
Councillor Jacopo Vicini emphasized that luxury growth is an opportunity to guide tourism toward more sustainable models. “We want to enhance the territory’s artisanal, cultural, and food and wine excellence while distributing visitor flows beyond the historic center,” he said.
From the 17th-century Palazzo Morrocchi with its seafood-focused dining to the intimate, six-apartment La Réserve Firenze and the sprawling Borgo Pignano Florence set on five hectares, these openings offer something for every discerning traveler. Villa San Michele, a former convent, reopened in April after an 18-month renovation featuring Tuscan craftsmanship and a Guerlain spa. Meanwhile, the Hermitage Hotel & Resort in Forte dei Marmi—a historic property—has been reimagined by Starhotels as a lifestyle resort with a farm-to-table restaurant.
As Elisabetta Fabri of Starhotels put it, “Growth should be thoughtful and integrated, working with local culture, local suppliers, and the community.” Florence appears to be listening.