Every Hotel That Changed Michelin Key Tiers in 2025

When Michelin unveiled its 2025 global hotel Key selection in October, the headline was the massive expansion -- from 15 countries to nearly 100, with 8,425 hotels rated worldwide. But buried beneath the expansion news were quieter, more revealing changes: hotels that moved up or down the Key tiers, and a handful that lost their Keys entirely. These shifts tell us more about Michelin's evolving standards than any press release.

We tracked every confirmed tier change between the 2024 and 2025 Michelin Key selections. Here is the complete list.

Upgrades to Three Keys: Italy's Dominance

The most dramatic story of the 2025 update is Italy. Five Italian hotels were upgraded from Two Keys to Three Keys -- the highest tier, reserved for "an exceptional stay." No other country had more than one upgrade to the top tier.

Four Seasons Hotel Firenze — Two Keys → Three Keys

The Four Seasons Hotel Firenze ($2,833/night) is set in a Renaissance palazzo with 11 acres of private gardens in central Florence. The upgrade makes it one of 10 Four Seasons properties worldwide to hold Three Keys -- the most of any hotel brand. Its promotion feels overdue: the property is regularly cited as one of the finest urban luxury hotels in the world.

San Domenico Palace, Taormina — Two Keys → Three Keys

The San Domenico Palace ($1,837/night), a Four Seasons hotel in a 15th-century Dominican monastery perched above the Sicilian coastline, was the filming location for Season 2 of The White Lotus. Its Three-Key upgrade gives Four Seasons two newly promoted Italian properties in the same year.

Passalacqua — Two Keys → Three Keys

Passalacqua ($1,564/night) on Lake Como was named the World's #1 Hotel by the World's 50 Best Hotels list in 2023. Its promotion to Three Keys makes it one of the few properties to hold both distinctions simultaneously. The 18th-century villa operates with just 24 rooms and a deliberate philosophy of understated hospitality.

Bvlgari Hotel Roma — Two Keys → Three Keys

The Bvlgari Hotel Roma ($3,053/night), set in a restored 1930s building on the Piazza Augusto Imperatore, is one of the newest luxury hotels in Rome. Its upgrade to Three Keys positions it as the most highly rated Bvlgari property in the Michelin system.

Borgo Santo Pietro — Two Keys → Three Keys

Borgo Santo Pietro ($1,133/night) is a 13th-century Tuscan estate in Chiusdino with 300 acres of gardens, a working farm, and a Michelin-starred restaurant. The property epitomizes what Michelin means by "sense of place" -- it could not exist anywhere other than the rolling hills of southern Tuscany.

Why Italy?

Italy's sweep is not coincidental. Michelin has deep roots in Italian hospitality through its restaurant guide, and the 2025 expansion brought greater scrutiny to a market where many hotels had arguably been underrated in the initial 2024 selection. Several of these properties were widely considered Three-Key caliber when the system launched -- the 2025 update corrected those initial assessments.

Japan's Quiet Upgrade

Asaba — Two Keys → Three Keys

Asaba ($888/night) in Shuzenji is a traditional Japanese ryokan that has operated continuously since 1489 -- over 500 years. The upgrade to Three Keys makes it one of Japan's 7 Three-Key hotels and one of the most affordable at the top tier. For travelers who want to experience the essence of Japanese hospitality without the ultra-luxury price tag, Asaba is now Michelin's highest-rated traditional inn.

Downgrades from Three Keys: Thailand's Losses

While Italy gained five Three-Key hotels, Thailand lost two.

Keemala — Three Keys → Two Keys

Keemala in Phuket, known for its whimsical treehouse-style villas inspired by four fictional Thai clans, was downgraded from Three Keys to Two Keys. The property remains highly regarded, but the demotion suggests Michelin found it did not meet the "exceptional stay" threshold on re-inspection. Keemala still holds Two Keys -- a distinction that places it in the top 8% of all Michelin-rated hotels.

Soneva Kiri — Three Keys → Dropped

Perhaps the most surprising change: Soneva Kiri on the remote island of Koh Kood was not merely downgraded -- it was dropped from the Key tiers entirely, receiving only a "Selected" designation. The eco-luxury resort, famous for its treetop dining pod and Cinema Paradiso outdoor theater, went from the highest possible rating to no Keys at all. This two-tier drop is the sharpest decline we found in the 2025 update and raises questions about what Michelin's inspectors encountered on their return visit.

Downgrades from Two Keys to One Key

Five hotels were confirmed downgraded from Two Keys to One Key -- still a meaningful recognition, but a step down from where they stood in 2024.

United States

Four Seasons One Dalton Street, Boston — The newest Four Seasons in North America dropped from Two Keys to One Key. While the property's design and dining are strong, the downgrade may reflect Michelin's evolving view of the competitive Boston luxury market.
ULUM Moab — This striking desert resort in Utah, designed as a series of angular suites overlooking Canyonlands, was downgraded from Two Keys to One Key. The remote location and dramatic architecture earned initial acclaim, but the One-Key rating suggests the overall experience may not have matched the visual ambition.
The Pinch Charleston — A boutique hotel in Charleston's historic district, The Pinch went from Two Keys to One Key. The property's intimate scale (just 11 rooms) and neighborhood charm remain appealing, but the lower rating indicates Michelin found room for improvement.

Canada

Wickaninnish Inn — The iconic Tofino property on Vancouver Island's rugged west coast dropped from Two Keys to One Key. The Wickaninnish has been a bucket-list destination for Pacific Northwest travelers for decades, and its demotion is among the more surprising changes in the 2025 selection.

Italy

Hotel Vilòn, Rome — Set in a 17th-century palazzo in the heart of Rome, Hotel Vilòn was downgraded from Two Keys to One Key. The boutique property (18 rooms) retains its Michelin recognition but at a lower tier.

Hotels That Lost Their Keys Entirely

Two hotels went from holding Two Keys to receiving no Keys at all -- just a "Selected" designation.

Amangani — The Aman property in Jackson Hole, Wyoming went from Two Keys to Selected. Given that Aman as a brand holds 7 Three-Key hotels, the complete removal of Amangani's Keys is notable. The mountain resort opened in 1998 and may be due for a refresh compared to Aman's newer properties.
Park Gstaad — This Swiss luxury hotel in the exclusive alpine village of Gstaad dropped from Two Keys to Selected. The removal is significant given Switzerland's strength in the Michelin Key system.

Upgrades to Two Keys

Not all changes were downgrades. Two German hotels were promoted from One Key to Two Keys.

Excelsior Hotel Ernst, Cologne — This historic grand hotel opposite Cologne Cathedral, operating since 1863, was upgraded from One Key to Two Keys. The promotion recognizes a property that has been a landmark of German hospitality for over 160 years.
Hotel Engel Obertal, Black Forest — A spa and wellness hotel in the Black Forest region was promoted from One Key to Two Keys, reflecting Michelin's growing appreciation for Germany's distinctive wellness hotel tradition.

What the Changes Tell Us

Michelin is not afraid to downgrade

The 2025 changes demonstrate that Michelin Keys are not permanent. Hotels that rest on their laurels -- or that were perhaps over-rated in the system's enthusiastic 2024 debut -- can and do lose Keys. This willingness to downgrade is critical for the system's credibility. A rating that never decreases is a rating that means nothing.

Italy was underrated in 2024

Five Italian upgrades to Three Keys in a single year suggests the initial 2024 selection was conservative about Italy. Given that Italy is one of the world's deepest luxury hospitality markets, the corrections make the Three-Key list more representative of global excellence.

The expansion revealed new competition

Some 2024 Two-Key hotels may have been downgraded partly because the 2025 global expansion introduced new competitors. When the pool grows from 15 countries to nearly 100, the bar for each tier effectively rises. A Two-Key hotel in 2024 might be a One-Key hotel in 2025 simply because more exceptional properties entered the system.

Brand affiliation does not protect you

Four Seasons One Dalton, Amangani (Aman), and Wickaninnish Inn all lost tiers despite belonging to brands with strong overall Michelin Key records. The rating applies to the individual property, not to the brand -- a principle that Michelin has maintained in its restaurant guide for decades.

The Full List of Confirmed Tier Changes

Hotel	Location	2024 Tier	2025 Tier	Direction
Four Seasons Firenze	Florence, Italy	Two Keys	Three Keys	↑
San Domenico Palace	Taormina, Italy	Two Keys	Three Keys	↑
Passalacqua	Lake Como, Italy	Two Keys	Three Keys	↑
Bvlgari Hotel Roma	Rome, Italy	Two Keys	Three Keys	↑
Borgo Santo Pietro	Chiusdino, Italy	Two Keys	Three Keys	↑
Asaba	Shuzenji, Japan	Two Keys	Three Keys	↑
Excelsior Hotel Ernst	Cologne, Germany	One Key	Two Keys	↑
Hotel Engel Obertal	Black Forest, Germany	One Key	Two Keys	↑
Keemala	Phuket, Thailand	Three Keys	Two Keys	↓
Soneva Kiri	Koh Kood, Thailand	Three Keys	Selected	↓↓
FS One Dalton Street	Boston, USA	Two Keys	One Key	↓
ULUM Moab	Moab, USA	Two Keys	One Key	↓
The Pinch Charleston	Charleston, USA	Two Keys	One Key	↓
Wickaninnish Inn	Tofino, Canada	Two Keys	One Key	↓
Hotel Vilòn	Rome, Italy	Two Keys	One Key	↓
Amangani	Jackson Hole, USA	Two Keys	Selected	↓↓
Park Gstaad	Gstaad, Switzerland	Two Keys	Selected	↓↓

8 upgrades. 9 downgrades. The 2025 Michelin Key selection is not just bigger -- it is recalibrated.

Explore the complete Three-Key hotel list, see them ranked by price, or read our analysis of boutique vs brand hotels in the Michelin Key system.

Data sourced from the Michelin Key Hotels database, which tracks 8,425 rated properties worldwide. Tier changes confirmed by comparing the 2024 and 2025 Michelin Key selections against official Michelin Guide country pages.