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Venice: romanticism works

Famous for Saint Mark's Square, its canals, the lagoon and carnival week, the ‘Serenissima’ benefits from a very strong tourist appeal and its reputation as a "romantic" destination for international visitors.

Venice airport (#3 in Italy) is poised to handle more than 12 million passengers in 2016; its passenger traffic grew by 7.9% from 2016. 

Due to a land shortage and the heritage character of the city, growth in the hotel supply is obviously limited and usually results from conversions of independent hotels or residential units. However, due to the already low number of residents in Venice’s historic neighborhoods, local authorities are trying to restrict conversions of residential units.

For further details, consult the following report: EHR Italy 2018

Hotel performances in Venice traditionally follow a “cascade” pattern, with major increases during odd years thanks to the Art Biennale. 2017 was no exception to the rule: RevPAR rose 16% to €184.8 (incl. VAT), thanks to both the ADR, which surged 8.4%, and the occupancy rate, which rose 4.9 points. Compared to 2015, the most recent odd year, the RevPAR in Venetian hotels is up more than 10%, testifying to a positive mid-term/structural trend.

 

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