Trend: mid-range hotels are disappearing, luxury brands are coming in
3–4 star hotels are gradually disappearing from the market, giving way to exclusive brands. When new luxury hotels open, they usually push up local real estate prices and rental rates.
A bit of history and examples
In the past, Lake Como only had three iconic 5-star hotels: Villa d’Este (Cernobbio), Grand Hotel Tremezzo and Grand Hotel Villa Serbelloni (Bellagio).
In 2016, Il Sereno Hotel opened in Torno — a super-modern project by Patricia Urquiola.
In 2019, Mandarin Oriental acquired CastaDiva Resort & Spa in Blevio.
Recent openings and their impact
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In 2021, Victoria Hotel opened in Menaggio. Thanks to this, the lakeside promenade got a fresh look: a neat public space, SPA and restaurant open to everyone, and in 2024 they took over the local beach club, creating even more leisure options.
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Passalacqua in Moltrasio (Best Independent Hotel): only 24 rooms, and even off-season it’s impossible to get a table in their restaurant.
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In 2025, the former three-star Britannia Hotel in Griante will reopen as The Lake Como Edition (part of Marriott’s Edition Hotels).
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In 2026, Italy’s first Ritz-Carlton will open — the result of converting the former Hotel Grande Bretagne in Bellagio.
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In Griante, Hotel Cadenabbia has been sold and is being prepared for restructuring — likely to be managed by Six Senses (estimated completion in about 3 years).
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The Grand Hotel Imperiale in Moltrasio will become Raffles Lake Como by 2027.
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Bernard Arnault’s LVMH group, through its Belmond brand, has acquired Castello di Urio in Carate Urio. This 16th-century castle with 180 meters of shoreline and an Italian garden will be renovated and added to Belmond’s collection of luxury hotels.
Why this affects the real estate market
On all second-home markets, the same pattern works: people visit once, then again, fall in love with the place — and then start looking for a vacation home or villa here.
The growth of high-end hotels directly boosts the region’s appeal and real estate value.
Personal note
I don’t miss the days when busloads of tourists stayed one night at Britannia. Cheap tourism brought nothing to our lake but traffic jams. If there are fewer 3–4 star hotels, renting apartments will become a strong alternative.
We are connected markets — hotels, private rentals, and local infrastructure. I really hope all these major investors will push the local authorities to finally improve the roads.
Latest news about the Tremezzina bypass — here.
Useful links & alternative
Below you’ll find links to all the hotels mentioned above, all in one place.
And if you prefer a peaceful holiday away from other guests, take a look at our private villas section.
Hotels mentioned with official links
Villa d’Este (Cernobbio)
https://www.villadeste.com/
Grand Hotel Tremezzo
https://www.grandhoteltremezzo.com/
Grand Hotel Villa Serbelloni (Bellagio)
https://www.villaserbelloni.com/
Il Sereno Hotel (Torno)
https://www.ilsereno.com/
Mandarin Oriental, Lago di Como (ex CastaDiva, Blevio)
https://www.mandarinoriental.com/en/lake-como/blevio/luxury-hotel
Victoria Hotel (Menaggio)
https://www.grandhotelvictoria.it/
Passalacqua (Moltrasio)
https://www.passalacqua.it/
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