Italian luxury hospitality market still in red

According to a recent reports released at Federalberghi, the yearly event dedicated to Italian hoteliers, currently taking place in Florence, the Italian hospitality market has registered a decrease in revenued between 0,4 and 0,6 % in 2010 compared to 2009. Many top executives attending the event, including event director have voiced their concern regarding the perspectives for the rest of 2011, given the war in Libya, turmoil in Middle East and the catastrophic earthquake in Japan. The actual leisure season in Italy begins mid April and it remains to be seen how international travellers will react to ongoing instability. The fact that Italy is actively involved in the Libyan war and there is an increased insecurity might prove to inhibit a certain category of travellers.