In Focus: Thermal Hotels & Spas in Italy

This article provides an overview of Italy’s Hotel Thermal Baths/Spa industry and analyses recent trends in the sector.
Panagiotis Verykios is a Consulting & Valuation Analyst with the Athens Office of HVS. He joined HVS Athens in late 2014 after receiving a B.Sc. in Hospitality Administration from Boston University's School of Hospitality Administration. Contact him at or +30 210 36 12 085.
Pavlos Papadimitriou is an Associate Director with theAthens Office of HVS specializing in hotel valuation and financial consultancy, and a member of the Royal Institution of Chartered Surveyors. He joined HVS Athens in late 2007 after completing the MBA programme of Les Roches School of Hotel Management in Switzerland and a BSc in Marketing and Communication from the Athens University of Economics and Business. Since then, he has conducted a number of valuations, feasibility studies, and market research analyses in the Balkans, Cyprus, Georgia, Greece, Italy, Poland, Spain, and Turkey. Contact him at
Ezio Poinelli is the Director of the HVS office in Milan. He has more than 17 years experience in Hospitality, Real Estate, and Leisure Real Estate markets in Europe, Caribbean, Latin America, and South Africa. He joined HVS in 2010 having significant experience in executive positions at Northcourse Advisory Services (Wyndham Worldwide), Ernst & Young, and other companies in the hospitality and real estate field. He is a graduate in Economics and Business Administration and holds a M.Sc. in Tourism Economics from Bocconi University. Contact him at or +39 02 873 43016


  1. MARIA RUIZNov 7, 2015

    estoy interesada en leer informes sobre el segmento, por trabajo de invetigacion MBA

  2. Archibald D. HendryApr 5, 2016

    Research for work

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