🔹 Hello, Lake Como.
Last week, my Lithuanian friends came for their annual Lake Como visit. They stayed at Villa d’Este and Il Sereno, and told me something I hadn’t heard before: this year both hotels felt surprisingly…empty.
I found this curious. With the S&P 500 and Italian tourism near record highs, I doubt the world has suddenly run short of people who can afford a luxury vacation.
Can it be that Lake Como is finally testing the limits of “more luxury is always better?”
This year alone, Palazzo San Gottardo and The Lake Como EDITION opened, while Villa d’Este added its Miralago apartments. And there are plenty more 5 star hotels on the way: Ritz-Carlton, Raffles, Six Senses and others.
So how many five-star hotels can one lake absorb? This week’s Spotlight follows the money.
P.S. parts of Como’s lakefront are closed for works until 12 September. If you’re driving towards Blevio or Nesso, bring patience, or a very good podcast.
P.P.S. Those crazy planes flying low over the lake this afternoon? That was the Frecce Tricolori, the Italian Air Force’s aerobatic team. They’re expected back on Sunday.
Lake Como is having its annual “Davos” moment: the Ambrosetti Forum begins tomorrow, bringing world leaders, serious security, scarce parking, and a high concentration of smart people to the streets. My kind of week.
Let’s get into it.
-Simona
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🔦 Spotlight: Big Money Is Back in Italian Property
What's Happening:
Idealista, using JLL’s latest data, reports that €7.8 billion was invested in Italian commercial property during the first half of 2026, up 34% in a year. Lake Como is specifically mentioned among the leisure destinations attracting hotel investors, although a few huge transactions account for a sizeable part of the national total.
Facts:
€7.8 billion was invested in six months. The 2nd quarter brought in €4.3 billion - 45% more than a year earlier and one of the strongest quarters of the past five years.
More than 75% of the money came from international investors, up from around 60% in 2025.
Retail attracted €2.45 billion, but one Milan property heavily influenced the result. The Via Montenapoleone deal accounted for 70% of all retail investment in Q2 — roughly €1 billion.
Investors spent €860 million buying hotels, plus another €260 million converting other buildings into hotels. Lake Como and Sicily were among the leisure markets attracting attention.
Family offices and wealthy private investors spent around €1.7 billion. That is already more than 80% of what they invested during the whole of 2025, with most of the money going into safer properties offering stable income.
Around 30% of office investment involved buildings changing use. They are being turned into hotels, homes or student accommodation.
What does it mean for us?
The local hotel pipeline makes the trend very real. Two five-star hotels have opened in 2026: Palazzo San Gottardo in Como and The Lake Como EDITION in Cadenabbia.
At least three more are being developed: The Ritz-Carlton in Bellagio, Raffles in Moltrasio and Six Senses in Griante. Corinthia Lake Como is also planned for Menaggio in late 2028, although construction has not yet been confirmed.
Laglio and Moltrasio are entering the arena with some more hotel action in the next years.
With tourism still growing, is this the extra capacity Lake Como needs - or are too many hotels chasing the same wealthy guests?
Time will show, and we will keep you posted.
⭐ In Case You Missed It
🗝️ Local Opportunities
🏠 Stay in Bellano. Bellano is offering under-36 residents support with rent or first-home mortgage costs. The current application window closes 24 September.
🚗 Micro-Rent Round is now Open. Those tiny cars you may have seen at Villa Flori are from a local startup Micro Rent. Their private crowdfunding round is open before the public campaign; the minimum investment is €500, and investors of €20k+ receive one year of car usage plus company shares. If you want to chat with the Co-Founder: [email protected]
🏛️ Business
📈 Rates Again? Eurozone inflation jumped to 3.3% in August, increasing expectations of another ECB rate hike next week.
🍔 McDonald’s Hiring. A new McDonald’s is coming to Fino Mornasco, with 30 people being recruited ahead of the opening.
🍸 Menaggio Bets. Two young businesses have opened in central Menaggio: Como Speziale for locally inspired artisanal drinks, and Lariosauro for cocktails and unusual liqueurs.
🍕 39 Years Later. La Cusinese has closed after 39 years under Marco Rossi, who kept the trattoria going beyond retirement hoping someone would take it over.
🏛️ Hotels
🏗️ R Collection Expands. R Collection is adding three Como hotels plus Villa O in 2027 - and building a 243-bed staff house in Menaggio.
🏨 Laglio Five-Star. The planned 40-room hotel with restaurant and spa is aiming to start construction next spring and open in 2029. It should create around 110 jobs.
🏎️ F1 Spillover. The Monza Grand Prix is spilling into Lake Como, with strong hotel demand.
💰 €200M Hotel Deal. Thailand’s Sansiri Capital has reportedly signed The Lake Como EDITION for more than €200m (so far only Asian business sources). The hotel July-August occupancy topped 70%, with average rates above €1,500 a night.
✨ Local Life
✈️ Forum Weekend. The Ambrosetti Forum starts Friday at Villa d’Este, with extra security around Cernobbio and the Frecce Tricolori expected around 2pm on Sunday.
🪧 The Other Cernobbio. The alternative “Altra Cernobbio” gathering also returns alongside the Forum, with Elly Schlein among the political names expected.
🧑🤝🧑 Cernobbio Young. Cernobbio opened registrations for its afternoon programme for 11-to-14-year-olds: 75 places, with applications open until 18 September.
✈️ Global Mentions
🏡 Architecture & Interior Design. Country & Town House toured a Lake Como home by London’s Thorp Design, mixing local craftsmanship with a home cinema and even a study inspired by a Dolce & Gabbana dress.
⚽ Como the Supplier. Sports Business Journal reports that Como 1907 wants to extend its multi-club servicing model into the kit business.
📱Trending on Socials
John Legend has been going to Lake Como for almost 20 years
🏠 Real Estate
🏡 3 Bedroom House with the View, Brienno ($): €320K · 120m² ·
3 bedrooms, fireplace, terrace, few separate entrances, so it’s possible to turn it to 2 units.
View
🏡 Detached House with Lake views, Carate Urio ($$) €570K· 110m²
3 rooms, 3 floors, balcony, air conditioner, energy class: C
🏡 Villa with swimming pool and lake views, Como ($$$) €1.3M· 300m² ·
Recently renovated, energy efficiency: C, garage, communal swimming pool and garden, terrace, 8 rooms.
View
🏢 Businesses for Sale
🥐 Cafe/Bar for transfer, Como historical center. €250K · 80 m² .
Recently renovated, high foot area. With the outdoor terrace. Rent €1350/month.🍽️ Bar for transfer, Cernobbio. €90K · 70 m² · 20 years of business experience, loyal clientele. Rent - €816/month
🐕 Pet Grooming Business for sale, Cadorago. €125K · 92 m² · 15 minutes from Como.
💼 Job Opportunities
📊 General Manager: R Collection Hotels (Como). Salary ranges are not indicated.
🧑💼 Global Business Line Manager: ABB (Tremezzo). Own full P&L. Salary is not indicated.
🍽️ Production Manager: Porcelain and Modeling (Como). 10+ years of experience needed. Salary: 55-58K + benefits.
Have a property, business, or job to feature? Submit it here
📅 Events This Week: Sept 3 to Sept 9
Thursday, September 3
TENNIS TOURNAMENT · 🎾 Como Lake Challenger · tournament day · Circolo Tennis Como, Via Cantoni 1, Como
BOOK FAIR · 📚 74th Como Book Fair · 10:00 to 22:30 · Piazza Cavour, Como
SPORTS IN THE CITY · 🏃 Como Muoviti Muoviti · 19:00 Zumba; 21:00 metabolic walk · Monumento ai Marinai d’Italia / Monumento ai Caduti, Como
SACRED CONCERT · 🎼 Celtic Harp Orchestra · 20:30 · Basilica di Sant’Abbondio, Como
OPEN-AIR CINEMA · 🎬 Il mago del Cremlino · 21:00 · Area Feste Sant’Abbondio, Como
LAKEFRONT MUSIC · 🎶 Alessio Lorenzi Live · 21:00 · Piazza Garibaldi, Menaggio
Friday, September 4
TENNIS TOURNAMENT · 🎾 Como Lake Challenger · tournament day · Circolo Tennis Como, Via Cantoni 1, Como
BOOK FAIR · 📚 74th Como Book Fair · 10:00 to 23:30 · Piazza Cavour, Como
JAZZ FESTIVAL · 🎷 Festival Jazz: Seventeen Steps To Heaven · 17:00 · Auditorium del Conservatorio di Como
LAKECOMO MUSIC FESTIVAL · 🎻 On the Road: Quartetto Ludus · 18:30 · Villa Carlotta, Tremezzina
SPORTS IN THE CITY · 💪 Como Muoviti Muoviti: Functional Training · 18:30 to 19:30 · Giardini di Via Traù, Tavernola, Como
FIREWORKS NIGHT · 🎆 Magic Show and Fireworks in Colico · 20:30 magic show; 22:00 fireworks · Palalegnone + Ontano Beach, Colico
CLASSICAL CONCERT · 🎼 Gli archi di Volta · 21:00 · Asylum, Via Colonna 7, Como
OPEN-AIR CINEMA · 🎬 Le città di pianura · 21:00 · Area Feste Sant’Abbondio, Como
Saturday, September 5
TENNIS TOURNAMENT · 🎾 Como Lake Challenger · tournament day · Circolo Tennis Como, Via Cantoni 1, Como
WINE WALK · 🍷 Cantin Vèrt · from 18:00 · Palanzo, Faggeto Lario (Recommended by BCC)
BOUTIQUE FESTIVAL · 🎧 Boutique Festival 2026 · 18:00 to 02:00 · Parco Civico Teresio Olivelli, Tremezzo
JAZZ FESTIVAL · 🎷 Festival Jazz: Attilio Zanchi Masterclass + Final Concert · 10:00 and 17:00 · Auditorium del Conservatorio di Como
FOOD & DANCE FESTA · 🍽️ Fujada de Mulgis · from 19:00 · Molgisio playground, Lenno
BEACH NIGHT · 🌊 Cala Silva: Rockestra & Gioripa · Cala Silva, Valbrona · free shuttle 19:00 to 02:00 from Parè parking, Valmadrera
THEATRE & DINNER · 🎭 Ho visto un re · 19:00 dinner; 20:30 show · Spazio Gloria, Como
PIANO CONCERT · 🎹 Da Liszt a Rachmaninov · 21:00 · Basilica di San Carpoforo, Como
DUOMO NIGHT · ⛪ Duomo by Night · 21:00 to 23:00 · Duomo di Como
LAKE CONCERT · 🎷 Bach in Jazz · 21:00 · Corenno Plinio, Dervio
LOCAL MUSIC NIGHT · 🎸 Piano 9 + Trislais · 21:30 · Joshua Blues Club, Albate, Como
Sunday, September 6
TENNIS TOURNAMENT · 🎾 Como Lake Challenger · final day · Circolo Tennis Como, Via Cantoni 1, Como
BOOK FAIR · 📚 74th Como Book Fair · 10:00 to 22:30 · Piazza Cavour, Como
JAZZ FESTIVAL · 🎷 Festival Jazz: Intrecci Sonori · 11:00 · Auditorium del Conservatorio di Como
SPORTS & THEATRE · ⚽ Human Goal: Sport and Theatre in Piazza · 10:00 to 13:00 and 14:00 to 18:00 · Piazza Verdi, Como
ALPINE FESTA · ⛰️ Festa del Gruppo Alpini Colico · from 10:30 · Località San Rocco, Colico
JAZZ FESTIVAL · 🎷 Festival Jazz: Commons Five Quintett · 17:00 · Auditorium del Conservatorio di Como
TEXTILE PERFORMANCE · 🧵 Echi e Tessiture · 18:00 · Museo della Seta, Como
Monday, September 7
SPORTS & THEATRE · ⚽ Human Goal: Sport and Theatre in Piazza · 10:00 to 13:00 and 14:00 to 18:00 · Piazza Verdi, Como
BOOK FAIR · 📚 74th Como Book Fair · 15:00 to 22:30 · Piazza Cavour, Como
SPORTS IN THE CITY · 🧘 Como Muoviti Muoviti · 07:30 Pilates; 18:30 functional training; 19:00 Zumba · Tempio Voltiano / Monumento ai Caduti / Monumento ai Marinai d’Italia, Como
PIANO FESTIVAL · 🎹 Pianomaster: First Concert · from 20:00; main concert 21:00 · Palazzo Gallio, Gravedona ed Uniti
Tuesday, September 8
BOOK FAIR · 📚 74th Como Book Fair · 10:00 to 22:30 · Piazza Cavour, Como
SPORTS IN THE CITY · 🏃 Como Muoviti Muoviti · evening sports activities · Parco via Segantini + city sports areas, Como
OPEN-AIR CINEMA · 🎬 Springsteen: Liberami dal nulla · 21:00 · Area Feste Sant’Abbondio, Como
Wednesday, September 9
SPORTS IN THE CITY · 🏃 Como Muoviti Muoviti · from 06:00 · Piazza Cavour / Monumento ai Caduti area, Como
OPEN-AIR CINEMA · 🎬 ...Che Dio perdona a tutti · 21:00 · Area Feste Sant’Abbondio, Como
MUSIC FESTIVAL · 🎷 Between Lake and Mountains: Two Worlds · 21:15 · Villa Cipressi, Varenna
That’s all for this week!
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If you found a mistake, have an idea, event, or just want to chat about anything related to Lake Como or business, simply reply to this email.
