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A good 2022 for Garibaldi Hotels. Price increases weighs on 2023

By Wednesday, 18 January 2023 12:14

Garibaldi Hotels had a good 2022, with a 29% growth in turnover compared to the previous year, and is looking forward to 2023 with optimism.

Price increases hover on the horizon

On the horizon, however, hovers the ghost of price increases, which could partly undermine the company's positive trend.



"We have worked wisely to get to this point. After the last few difficult years, we started with 2019 results, our target for the end of the year," says general manager Fabrizio Prete.

 

Group sales are up by 10%

Stretching the season, investments, and commercial agreements are the key points of the Apulian hotel group's strategy, leading to both an increase in direct sales and +10% for groups.



"The winter season is rewarding us with positive results. Bookings for our Monzoni, Piaz and Fratazza properties in the Trentino have posted an average rate increase of some 8%.”

 

“We are optimistic for 2023 but costs are a major deterrent”

The positive results, however, risk being hit by the continuous price increases.



“We feel this looming threat given the price increases. We have calculated an average 80% increase for energy costs, and 30% for raw materials, especially food. We are optimistic for 2023 but costs are certainly a major deterrent to growth.”

 

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