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After a booming summer energy bills are threatening Italy’s hotels

Sunday, 04 September 2022 19:23

The summer boom may not have been enough to get Italy’s hotels back on their feet again after the two pandemic years.

A difficult autumn is looming on the not too distant horizon, and indeed in many cases is already a reality as energy prices rise to unheard of levels.

According to the latest findings from Confindustria Alberghi, the summer of 2022 was a booming one, with July occupancy rates exceeding 80% while August was often close to sold out. Seaside and mountain holidays did very well, but the real turnaround was the revival of interest in the art cities especially from foreign markets. This growth was driven by Europe but even more so by the United States, which also benefited from the particularly favourable Euro-dollar exchange rate.

"These are important numbers, and they restore confidence in tourism," says Maria Carmela Colaiacovo, president of Confindustria Alberghi, "but we are still not out of the woods. While there  is a strong recovery in demand for September and good potential for the autumn, energy costs have reached unsustainable levels.” 

In July, according to a Federalberghi estimate, hotel energy bills were three times higher than in July 2021. And the numbers are staggering: a total €3.8 billion, with an average cost of around €120 thousand for each property (€94,000 for electricity and €26,000 for gas) and prices are still rising. Meaning that over 18% of the sector's turnover is being eaten up by electricity and gas. A complex challenge, and unless adequate measures are taken Italy’s hotels are in for an icy shower.   
 

Massimiliano SartiMassimiliano Sarti
Journalist

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