| 1 | Matteo SRL | Italy | Poggibonsi | Via della Repubblica 115 | Siena | 53036 | N/A | 2008 | $687,777,903 | 301 | N/A | N/A | IT04277680288 |
| 2 | Nh Italia SPA | Italy | Milano | Via Giovanni Battista Pergolesi 2/a | Milano | 20124 | cesareverderame.***** | 2004 | $445,325,960 | 1,403 | N/A | N/A | IT04440220962 |
| 3 | Starhotels SPA | Italy | Firenze | Viale Belfiore 27 | Firenze | 50144 | starhotels.***** | 1977 | $269,957,810 | 837 | N/A | N/A | IT03360930154 |
| 4 | Gruppo Una SPA | Italy | Milano | Via Gioacchino Murat 23 | Milano | 20159 | gruppouna.***** | 1967 | $230,172,752 | 1,197 | N/A | N/A | IT07410980150 |
| 5 | Rocco Forte & Family Rome SPA | Italy | Roma | Via del Babuino 9 | Roma | 00187 | roccofortehotels.***** | 1998 | $191,064,454 | 320 | N/A | N/A | IT05502661001 |
| 6 | B&B Hotels Italia SPA | Italy | Milano | Via Giacomo Leopardi 1 | Milano | 20123 | hotel-bb.***** | 2008 | $183,710,917 | 88 | N/A | N/A | IT06291950969 |
| 7 | Voihotels SPA | Italy | Torino | Via Ernesto Lugaro 15 | Torino | 10126 | alpitour.***** | 1992 | $163,789,978 | 434 | N/A | N/A | IT04416641001 |
| 8 | Sardegna Resorts SRL | Italy | Arzachena | Casa Il Ginepro 1/a | Sassari | 07021 | costasmeraldaresort.***** | 2003 | $150,896,792 | 301 | N/A | N/A | IT03873060960 |
| 9 | Th Resorts SPA | Italy | Padova | Via Egidio Forcellini 150 | Padova | 35128 | th-resorts.***** | 2005 | $133,540,317 | 905 | N/A | N/A | IT04059490286 |
| 10 | Residence Le Torri SPA | Italy | Roma | Via Cesare Giulio Viola 19 | Roma | 00148 | ilgirotondo1.***** | 1968 | $127,516,502 | 117 | N/A | N/A | IT00988871000 |
| 11 | Hnh Hospitality SPA | Italy | Venezia | Via Giuseppe Saragat 1/50 | Venezia | 30174 | hnh.***** | 2010 | $126,675,486 | 578 | N/A | N/A | IT03978470270 |
| 12 | Bluserena SPA | Italy | Pescara | Via Caravaggio 125 | Pescara | 65125 | bluserena.***** | 1985 | $120,779,180 | 298 | N/A | N/A | IT01695910685 |
| 13 | M.A. - SRL | Italy | Treglio | Contrada Paglieroni | Chieti | 66030 | N/A | 1996 | $109,097,338 | 44 | N/A | N/A | IT01746770690 |
| 14 | Accor Hospitality Italia SRL | Italy | Milano | Via Generale Gustavo Fara 26 | Milano | 20124 | novotel.***** | 1988 | $109,096,515 | 396 | N/A | N/A | IT09421280158 |
| 15 | Villa D'este SPA | Italy | Cernobbio | Via Regina 40 | Como | 22012 | villadeste.***** | 1873 | $106,954,275 | 401 | N/A | N/A | IT00192900132 |
| 16 | Cfh Milan Holdco SRL | Italy | Milano | Piazza della Repubblica 20 | Milano | 20124 | theloungebarmilan.***** | 2006 | $100,126,659 | 448 | N/A | N/A | IT05283250966 |
| 17 | Sol Melia' Italia SRL | Italy | Milano | Via Tommaso Masaccio 19 | Milano | 20149 | facebook.***** | 2006 | $98,694,129 | 455 | N/A | N/A | IT05307630961 |
| 18 | Lungarno Alberghi SRL | Italy | Firenze | Borgo Santi Apostoli 29 | Firenze | 50123 | lungarnocollection.***** | 1995 | $96,697,301 | 425 | N/A | N/A | IT04685810485 |
| 19 | De.ar. Di Francesco De Siano SRL | Italy | Napoli | Via G. Porzio C.d.n. Is. E/5 . | Napoli | 80100 | N/A | 1972 | $94,852,903 | 301 | N/A | N/A | IT01820070637 |
| 20 | Meta SPA | Italy | Como | Viale Massenzio Masia 34 | Como | 22100 | grandhoteltremezzo.***** | 1973 | $94,592,865 | 301 | N/A | N/A | IT00348270133 |
| 21 | Sive SPA | Italy | Roma | Viale Pinturicchio 84 | Roma | 00196 | N/A | 1988 | $92,345,908 | 117 | N/A | N/A | IT02032461002 |
| 22 | Blu Hotels SPA | Italy | Salò | Via Enrico Fermi 7/b | Brescia | 25087 | bluhotels.***** | 1988 | $82,065,582 | 568 | N/A | N/A | IT01906530983 |
| 23 | Italiana Alberghi SRL | Italy | Orosei | Via del Mare Snc | Nuoro | 08028 | marinaseadabeach.***** | 1997 | $79,861,666 | 301 | N/A | N/A | IT01032400911 |
| 24 | Egnathia Iniziative Turistiche E.I.T. SPA | Italy | Fasano | Contrada Masciola Snc | Brindisi | 72015 | borgoegnazia.***** | 1999 | $78,568,943 | 392 | N/A | N/A | IT01841220740 |
| 25 | The Palace Company Europe SRL | Italy | Milano | Viale Regina Giovanna 27/29 | Milano | 20129 | baglionihotels.***** | 1997 | $78,535,978 | 332 | N/A | N/A | IT12956850155 |
| 26 | Icarus SPA | Italy | Fiumicino | Via Arturo Ferrarin 2 | Roma | 00054 | romeairport.***** | 1993 | $77,237,014 | 351 | N/A | N/A | IT04595701006 |
| 27 | Societa Internazionale Nuovi Alberghi Per Azioni S.i.n.a. | Italy | Firenze | Via Il Prato 42 | Firenze | 50123 | villamedicihotel.***** | 1958 | $76,218,273 | 301 | N/A | N/A | IT00381330489 |
| 28 | Quellenhof SRL | Italy | San Martino in Passiria | Via Passiria 47 | Bolzano | 39010 | quellenhof.***** | 1970 | $73,178,195 | 301 | N/A | N/A | IT00679110213 |
| 29 | Ihc Italian Hospitality Collection SPA | Italy | Milano | Via Emilio Cornalia 32 | Milano | 20124 | italianhospitalitycollection.***** | 1999 | $71,651,174 | 385 | N/A | N/A | IT03212990927 |
| 30 | Ecg Italia SRL | Italy | San Felice del Benaco | Via Padre Francesco Santabona 3 | Brescia | 25010 | N/A | 2008 | $71,310,456 | 98 | N/A | N/A | IT06321340967 |
| 31 | Sogedin SPA | Italy | Monastier Di Treviso | Via Papa Giovanni Xxiii 1 | Treviso | 31050 | giovanni23.***** | 1969 | $70,750,667 | 712 | N/A | N/A | IT00404370264 |
| 32 | Hilton Italiana SRL | Italy | Roma | Via Alberto Cadlolo 101 | Roma | 00136 | waldorfastoria3.***** | 1963 | $70,719,074 | 387 | N/A | N/A | IT00888641008 |
| 33 | Bellatrix SRL | Italy | Letojanni | Via Germano Chincherini | Messina | 98037 | hotelantaresletojanni.***** | 1994 | $67,554,934 | 278 | N/A | N/A | IT02518520834 |
| 34 | Delphina SPA | Italy | Palau | Localita' Cala Lepre Snc | Sassari | 07020 | facebook.***** | 1992 | $67,405,732 | 129 | N/A | N/A | IT01541220909 |
| 35 | Roco Hospitality Group SRL | Italy | Milano | Via Giovanni Battista Pergolesi 2 A | Milano | 20124 | sunedisonitalia.***** | 1997 | $66,809,902 | 229 | N/A | N/A | IT11203650962 |
| 36 | Meurice SPA | Italy | Torino | Via Xx Settembre 3 | Torino | 10121 | consulaudit.***** | 1980 | $65,360,798 | 28 | N/A | N/A | IT06252290017 |
| 37 | Europlan SPA | Italy | Affi | Via Crivelin 7 L | Verona | 37010 | europlan.***** | 2005 | $63,327,950 | 272 | N/A | N/A | IT03544730231 |
| 38 | Amapa SRL | Italy | Roma | Viale Dell'Oceano Pacifico 153 | Roma | 00144 | amapa.***** | 2007 | $61,567,664 | 147 | N/A | N/A | IT09731071008 |
| 39 | Cu.gi.mi. SPA | Italy | Firenze | Borgo Pinti 99 | Firenze | 50121 | fourseasons.***** | 1994 | $59,195,272 | 332 | N/A | N/A | IT04564540484 |
| 40 | Regent Management SRL | Italy | Milano | Via Gesu' 6/8 | Milano | 20121 | fourseasons.***** | 2001 | $58,820,722 | 277 | N/A | N/A | IT13347220157 |
| 41 | Aries Group SRL | Italy | Milano | Via Lampedusa 11/a | Milano | 20141 | ariesgroup.***** | 2020 | $58,809,351 | 298 | N/A | N/A | IT11337310962 |
| 42 | Greenblu SRL | Italy | Noci | Via Caduti Di Via Fani Zona Industriale | Bari | 70015 | aziende.***** | 2011 | $57,582,060 | 428 | N/A | N/A | IT07171130722 |
| 43 | Florence Management SRL | Italy | Milano | Via Uberto Visconti Di Modrone 38 | Milano | 20122 | studionicolini.***** | 2016 | $52,121,968 | 363 | N/A | N/A | IT09461060965 |
| 44 | Taormina Hotel Management SRL | Italy | Taormina | Piazza San Domenico 5 | Messina | 98039 | fourseasons.***** | 2014 | $52,058,699 | 131 | N/A | N/A | IT08584100963 |
| 45 | Mdp Management SRL | Italy | Milano | Corso Vittorio Emanuele Ii 37/b | Milano | 20122 | N/A | 2006 | $52,035,050 | 190 | N/A | N/A | IT09074591000 |
| 46 | Principe Di Savoia SRL | Italy | Milano | Piazza della Repubblica 17 | Milano | 20124 | dorchestercollection.***** | 2003 | $49,400,982 | 388 | N/A | N/A | IT03979560962 |
| 47 | Russotti Gestioni Hotels SPA | Italy | Milano | Via Giorgio Washington 66 | Milano | 20146 | marriott.***** | 2014 | $49,306,138 | 259 | N/A | N/A | IT08889570969 |
| 48 | Duetorrihotels SPA | Italy | Milano | Via Andrea Solari 19 | Milano | 20144 | hotelsantabarbara.***** | 1986 | $48,592,922 | 315 | N/A | N/A | IT08239110151 |
| 49 | Cdshotels SPA | Italy | Lecce | Via Paola E Daniela Bastianutti 25 | Lecce | 73100 | cdshotels.***** | 1990 | $48,209,162 | 235 | N/A | N/A | IT02475550758 |
| 50 | Regis Hotels Management Italy SRL | Italy | Roma | Via Vittorio Emanuele Orlando 3 | Roma | 00185 | marriott.***** | 2014 | $47,962,583 | 262 | N/A | N/A | IT08726390969 |
| 51 | Castiglion Del Bosco Hotel SRL | Italy | Montalcino | Loc. Castiglion del Bosco C/o Borgo Snc | Siena | 53024 | N/A | 2006 | $47,665,877 | 124 | N/A | N/A | IT01194630529 |
| 52 | King Gestioni Alberghiere SPA | Italy | Varedo | Via Varese 5 | Monza E Brianza | 20814 | grandhotelvictoria.***** | 2010 | $47,462,585 | 327 | N/A | N/A | IT06967750966 |
| 53 | Cosmo Hotel SPA | Italy | Vimercate | Via Torri Bianche 4 | Monza E Brianza | 20871 | torribianche.***** | 1995 | $47,266,397 | 301 | N/A | N/A | IT02540230964 |
| 54 | Lefay Resorts SRL | Italy | San Felice del Benaco | Via Santigaro 4 | Brescia | 25010 | lefayresorts.***** | 2006 | $46,858,591 | 301 | N/A | N/A | IT02786260980 |
| 55 | Ghms Venezia SPA | Italy | Venezia | Fondamenta San Biagio Giudecca 810 | Venezia | 30133 | www3.***** | 2014 | $45,919,454 | 263 | N/A | N/A | IT13041131007 |
| 56 | Gritti Capital SRL | Italy | Venezia | Campo Santa Maria del Giglio O Zobenigo 2467 | Venezia | 30124 | marriott.***** | 2015 | $45,620,848 | 171 | N/A | N/A | IT13271211008 |
| 57 | Bulgari Roma SRL | Italy | Roma | Lungotevere Marzio 11 | Roma | 00186 | bulgari.***** | 2019 | $44,867,805 | 313 | N/A | N/A | IT15341111001 |
| 58 | Ele SPA | Italy | Roma | Viale Salvatore Rebecchini 39 | Roma | 00148 | marriott.***** | 1988 | $43,931,749 | 366 | N/A | N/A | IT02034021002 |
| 59 | Hotel Cipriani SPA | Italy | Venezia | Isola Giudecca 10 | Venezia | 30133 | belmond.***** | 1956 | $43,706,109 | 56 | N/A | N/A | IT00311530273 |
| 60 | Carola SRL | Italy | Milano | Piazza Giuseppe Missori 1 | Milano | 20123 | thesquaremilano.***** | 1976 | $43,458,348 | 233 | N/A | N/A | IT02892380151 |
| 61 | G.B. Thermae Hotels SRL | Italy | Abano Terme | Via Valerio Flacco 99 | Padova | 35031 | gbhotelsabano.***** | 1967 | $41,848,282 | 491 | N/A | N/A | IT00220810287 |
| 62 | Q Excelsior Italia SRL | Italy | Roma | Via Vittorio Veneto 125 | Roma | 00187 | marriott.***** | 1999 | $40,898,088 | 326 | N/A | N/A | IT09114040968 |
| 63 | Nepa SRL | Italy | Milano | Via Tommaso Grossi 1 | Milano | 20121 | hyatt.***** | 1999 | $40,647,841 | 170 | N/A | N/A | IT12958130150 |
| 64 | Compagnia-Turistico Alberghiera SPA | Italy | Firenze | Via Luigi Alamanni 3 | Firenze | 50123 | hotelambasciatori.***** | 2002 | $40,304,223 | 193 | N/A | N/A | IT03262740404 |
| 65 | Errezetauno SRL In Sigla Rz1 SRL | Italy | Napoli | Via Chiatamone 53/c | Napoli | 80121 | N/A | 1998 | $39,774,220 | 453 | N/A | N/A | IT07386430636 |
| 66 | Gruppo Della Frera Hotel SRL | Italy | Milano | Via Lucio Giunio Columella 36 | Milano | 20128 | hilton.***** | 2014 | $39,145,263 | 275 | N/A | N/A | IT08702880967 |
| 67 | Salvatore Naldi Group SRL | Italy | Napoli | Via San Giacomo 32 | Napoli | 80133 | N/A | 1951 | $38,876,298 | 267 | N/A | N/A | IT04691951216 |
| 68 | San Pietro SPA | Italy | Positano | Via Laurito 2 | Salerno | 84017 | ilsanpietro.***** | 1987 | $38,395,299 | 56 | N/A | N/A | IT02394820654 |
| 69 | Excelsior Hotel Gallia SRL | Italy | Milano | Piazza Duca D'Aosta 9 | Milano | 20124 | marriott.***** | 2005 | $37,492,932 | 256 | N/A | N/A | IT04917600969 |
| 70 | Le Sirenuse SPA | Italy | Villaspeciosa | Via San Sebastiano 2 | Sud Sardegna | 84017 | sirenuse.***** | 1963 | $37,492,605 | 301 | N/A | N/A | IT02397010659 |
| 71 | Hgt SRL | Italy | Milano | Corso Europa 10 | Milano | 20122 | N/A | 2005 | $37,117,349 | 89 | N/A | N/A | IT04838800961 |
| 72 | Hotel Terme President SRL | Italy | Ischia | Via Osservatorio | Napoli | 80077 | hotelischiatermepresident.***** | 1981 | $36,862,863 | 301 | N/A | N/A | IT03431870637 |
| 73 | Hotel Splendido SPA | Italy | Portofino | Viale Baratta 16 | Genova | 16034 | belmond.***** | 1974 | $36,421,111 | 76 | N/A | N/A | IT00169400991 |
| 74 | Ellepi SRL | Italy | Selargius | Via Trieste 60 | Cagliari | 09047 | conad.***** | 1990 | $36,215,063 | 109 | N/A | N/A | IT01951430923 |
| 75 | Bulgari Hotels And Resorts Milano SRL | Italy | Milano | Via Fratelli Gabba 7 B | Milano | 20121 | bulgarihotels.***** | 2002 | $35,483,884 | 192 | N/A | N/A | IT06953571004 |
| 76 | Bivio SRL | Italy | Livigno | Via Plan 422/a | Sondrio | 23041 | biviolifelivigno.***** | 1985 | $35,438,549 | 301 | N/A | N/A | 92003740146 |
| 77 | Montecarlo SPA Immobiliare | Italy | Firenze | Lungarno del Tempio 44 | Firenze | 50121 | hotelmediterraneo.***** | 1936 | $35,422,273 | 274 | N/A | N/A | IT00434210480 |
| 78 | Why The Best Hotels SRL | Italy | Firenze | Via Dei Banchi 6 | Firenze | 50123 | whythebesthotels.***** | 2007 | $35,006,540 | 178 | N/A | N/A | IT05772900485 |
| 79 | Jesolo Lido Real Estate SRL | Italy | Varna | Via Isarco 1 | Bolzano | 39040 | N/A | 2005 | $34,907,120 | 59 | N/A | N/A | IT02474180219 |
| 80 | Atos Gestioni SRL | Italy | Roma | Via Di Tor Vergata 325 | Roma | 00133 | clubesse.***** | 2014 | $34,643,578 | 16 | N/A | N/A | IT12728191003 |
| 81 | S.E.A Societa'esercizi Alberghieri SPA | Italy | Sorrento | Via Sant'Antonio 13 | Napoli | 80067 | hiltonsorrentopalace.***** | 1969 | $33,796,440 | 321 | N/A | N/A | IT01246051211 |
| 82 | Hotel Eden SRL | Italy | Roma | Via Ludovisi 49 | Roma | 00187 | dorchestercollection.***** | 1964 | $33,732,365 | 220 | N/A | N/A | IT04917580963 |
| 83 | Arranger Consulting SRL | Italy | Firenze | Via Giovanni Pico della Mirandola 8 | Firenze | 50132 | burgerking.***** | 2011 | $33,210,377 | 301 | N/A | N/A | IT06141820487 |
| 84 | Srff Mediterranea Golf & Resort SPA | Italy | Roma | Via del Babuino 9 | Roma | 00187 | roccofortehotels.***** | 2004 | $33,078,753 | 335 | N/A | N/A | IT07908081008 |
| 85 | Hassler Roma SPA | Italy | Roma | Piazza della Trinita' Dei Monti 6 | Roma | 00187 | hotelhasslerroma.***** | 1997 | $32,825,214 | 140 | N/A | N/A | IT05299451004 |
| 86 | Sia SRL | Italy | Capri | Via Camerelle 2 | Napoli | 80073 | quisisana.***** | 1980 | $32,163,182 | 56 | N/A | N/A | IT09475350964 |
| 87 | Acropolis SPA | Italy | Anacapri | Via Capodimonte 14 | Napoli | 80071 | capripalace.***** | 1980 | $32,158,667 | 77 | N/A | N/A | IT13049100152 |
| 88 | Rocco Forte & Family (hotel De La Ville Roma) SRL | Italy | Roma | Via del Babuino 9 | Roma | 00187 | roccofortehotels.***** | 2016 | $31,672,787 | 171 | N/A | N/A | IT14105691001 |
| 89 | Igv Hotels SPA | Italy | Milano | Via della Moscova 36 | Milano | 20121 | hotelsantagiusta.***** | 1972 | $31,653,035 | 301 | N/A | N/A | IT00124990797 |
| 90 | Euro Gestioni SPA | Italy | San Michele al Tagliamento | Corso del Sole 102 | Venezia | 30028 | hotel-luna.***** | 1980 | $30,926,342 | 86 | N/A | N/A | IT00880040274 |
| 91 | Sialm Societa' Italiana Per Gli Alberghi Del Lago Maggiore SPA | Italy | Milano | Piazza Castello 9 | Milano | 20121 | N/A | 1988 | $30,727,397 | 146 | N/A | N/A | IT09517030152 |
| 92 | Danieli Management SRL | Italy | Venezia | Sestiere Castello 4196 | Venezia | 30122 | marriott.***** | 2005 | $30,713,685 | 174 | N/A | N/A | IT04960950964 |
| 93 | Lindbergh Hotels SRL | Italy | Pesaro | Piazzale Giacomo Matteotti 28 | Pesaro E Urbino | 61121 | hotelcaladellatorre.***** | 2018 | $29,991,883 | 159 | N/A | N/A | IT02667750414 |
| 94 | Marinella SRL | Italy | Amalfi | Via Giovanni Augustariccio 33 | Salerno | 84011 | borgosantandrea.***** | 1962 | $29,863,996 | 28 | N/A | N/A | IT08781691210 |
| 95 | Colonna Holidays SRL | Italy | Roma | Piazza Di Monte Citorio 12 | Roma | 00186 | countrysportingclub.***** | 1968 | $29,853,778 | 40 | N/A | N/A | IT09824261003 |
| 96 | Adler Dolomiti SRL | Italy | Ortisei | Via Rezia 7 | Bolzano | 39046 | adler-dolomiti.***** | 1989 | $29,781,804 | 198 | N/A | N/A | IT01350320212 |
| 97 | Independent Hospitality Malpensa SRL | Italy | Ferno | Aeroporto Di Malpensa 2000 | Varese | 21010 | N/A | 2006 | $29,710,472 | 158 | N/A | N/A | IT06525820723 |
| 98 | Rffb SRL | Italy | Roma | Via del Babuino 9 | Roma | 00187 | N/A | 2018 | $29,348,133 | 217 | N/A | N/A | IT14963861001 |
| 99 | Vico SPA | Italy | Como | Via Borgo Vico 241 | Como | 22100 | hilton.***** | 2015 | $29,141,814 | 180 | N/A | N/A | IT03580300139 |
| 100 | Artesole SRL | Italy | Roma | Via Claudio Monteverdi 16 | Roma | 00198 | aromarestaurant.***** | 2003 | $29,095,318 | 80 | N/A | N/A | IT07738821003 |