Hotel investors have returned their attention to Italy but are being very choosy about where they park their capital as they assess risks. Hotel owners and investors who have been active in Italy for years are looking to be aggressive now before outside investors catch on.

Guy David Heksch, chief operating officer at London-based Omnam Investment Group, said the investment landscape is likely to diversify in the next year. There are a lot of hotel acquisition opportunities available, depending what an investor is willing to spend.