Report 11/08/2020
The end of summer marks the beginning of an encouraging autumn season in business sector, more subdued in the leisure one but at a constant pace
Milan: The end of summer marks the beginning of an encouraging autumn season.
Even this week, trends are widely confirmed: in Milan, 50 percent of hotels are closed in August due to the physiological mid-summer break. The AB1_day curve is slightly decreasing, while the AB14_days index is basically stationary, highlighting a rate of open hotels that ranges between 45% and 55%. The strong recovery of the AB28_days index signals the reopening of many hotels at the beginning of September (up to 75% of hotels). The share of hotels working in the autumn season is confirmed (approximately 85% of hotels – AB56_days), while the share of hotels offering rooms online to business tourists for the end of December (AB140_days) is slightly decreasing, due to Christmas holidays. These are encouraging signals for the upcoming autumn season and for the recovery of the business segment. However, 15% of hotels do not post any offer online yet, disclosing a facet of the trauma the pandemic is causing to the hotel sector.
Venice: a subdued Venice but at a constant pace
70% of hotels in Venice offer rooms in August (AB1_day and AB14_days). The share of hotels offering rooms at the beginning of September (AB28_days) is larger (more than 70%) but decreasing, while the percentage of hotels offering rooms in late autumn (AB56_days) rises, reaching almost 80%. The Christmas holidays do not improve tourism perspectives for the leisure segment, since only 65% of hotels offer rooms at the end of December (AB140_days). The strong link between Venice and incoming tourist flows weakens its tourism supply, strongly conditioned by the uncertainty about the resumption of international tourist flows and the spread of the pandemic worldwide.