A steam dispensing apparatus for hot beverage preparation, the apparatus comprising: - a boiler configured to generate steam and comprising a first outlet ; - a steam wand configured to introduce steam into a container; - a steam delivery conduit connected to the first outlet of the boiler and configured to deliver the steam to the wand ; further comprising a valve for dispensing steam to the wand and draining the condensation water formed in the valve and in the steam delivery conduit upstream from the valve , during the closing time of the valve elapsed from a previous dispensing operation, said valve being interposed between the wand and the steam delivery conduit and comprising: - a predominantly longitudinal hollow body extending along a longitudinal axis (X-X), said hollow body comprising: - an axial cavity , a steam inlet connection , located at one axial end of the hollow body , said inlet connection being connected to said steam delivery conduit to receive steam from the boiler and deliver it into said cavity ; - a steam outlet connection , connected to said wand for delivering steam to said wand ; - a condensation water drain connection ; - a rod , axially accommodated in a channel having an opening facing out of the valve formed in said hollow body and ending with an opening that opens into said cavity , which is designed to perform axial movements in both directions along said longitudinal axis (X-X); - a control lever operably engaged with said rod to accommodate said axial movements thereof under the bias of elastic members from a closed position, said rod being adapted to create passages for establishing hydraulic communication between said inlet connection and said drain connection , by a first axial movement of said rod , and to establish hydraulic communication between said inlet connection and the outlet connection in communication with said wand , in response to a second axial movement of the rod . - a boiler configured to generate steam and comprising a first outlet ; - a steam wand configured to introduce steam into a container; - a steam delivery conduit connected to the first outlet of the boiler and configured to deliver the steam to the wand ; - a predominantly longitudinal hollow body extending along a longitudinal axis (X-X), said hollow body comprising: - an axial cavity , a steam inlet connection , located at one axial end of the hollow body , said inlet connection being connected to said steam delivery conduit to receive steam from the boiler and deliver it into said cavity ; - a steam outlet connection , connected to said wand for delivering steam to said wand ; - a condensation water drain connection ; - a rod , axially accommodated in a channel having an opening facing out of the valve formed in said hollow body and ending with an opening that opens into said cavity , which is designed to perform axial movements in both directions along said longitudinal axis (X-X); - a control lever operably engaged with said rod to accommodate said axial movements thereof under the bias of elastic members from a closed position, said rod being adapted to create passages for establishing hydraulic communication between said inlet connection and said drain connection , by a first axial movement of said rod , and to establish hydraulic communication between said inlet connection and the outlet connection in communication with said wand , in response to a second axial movement of the rod . <EOS>