(Finance) – It’s time to take stock for the operators of Italian accommodation facilities. There unfavorable economic situationexacerbated by recent international conflicts, has in fact made operations complicated for 62% of tour operators. Photographing the sector in 2023 is theNomisma Tourism Observatory made on behalf of UniCreditaccording to which the operations of tourism operators were affected primarily by the increase in energy costs (37%) and the general growth in prices caused by inflation (15%).
Furthermore, for 4 out of 10 structures the operational complexityfound in the last year also depended on theincrease in interest rates and the contraction of domestic demand. Aspects relating to staff are also relevant: 14% of the structures encountered difficulties find resources to hirehighlighting an increase of +6% compared to what was declared in October 2022.
Remo TaricaniDeputy Head of Italy of UniCredit, declares that “The Observatory clearly shows us how numerous the challenges are, and with them also the opportunities, for operators in the Italian tourism supply chain. Topics of global and intra-sector relevance such as digital transition and sustainability they have a concrete impact and can mark the success or otherwise of a tourism initiative. UniCredit wants to be at the forefront of supporting Italian tourism businesses in their efforts to modernize their offerings. Through the Made4Italy initiative we make financial resources available, 5 billion euros, for new investments, together with our financial and sector know-how with the aim of promoting projects linked to regional identities and encouraging a joint offer between companies hospitality and agri-food businesses, enhancing Italian territories to attract new flows of international tourism to the country”.
Mattia Barchetti, Head of Market Intelligence of Nomisma, declares “Tourism operators are proving to be increasingly aware and careful in defining a business strategy that is able to cope with an unfavorable macroeconomic situation and satisfy the changing needs of tourists. Continue investing to improve its attractiveness represents a discriminating factor to guarantee Italy a leading role among travel destinations. Financial intermediaries will be fundamental in supporting companies in the tourism supply chain with projects that are able on the one hand to reward the most skilled and on the other help those who, albeit with difficulty, will be able to overcome this moment of uncertainty” .
The investments and strategies put in place by the accommodation facilities in the two-year period 2023-24 are, rather, in the direction of increasing their attractiveness and responding to new market demands. In this context, Environmental sustainability has become a fundamental strategic driver for almost 8 out of 10 tourism operators. This new awareness has pushed structures to adopt sustainable policies and solutions, reducing environmental impact and meeting the growing demand for sustainable tourism.
Many operators have already undertaken initiatives in this direction: 72% of those interviewed have made investments in separate waste collection, water purification, reduction of waste and polluting substances, 70% have taken action to reduce food waste, 66% have adopted water and (in 51% of cases) energy saving actions.
Furthermore, the accommodation facilities declare that they are planning to activate one series of activities in favor of environmental sustainability so much so that 35% of those interviewed will implement energy saving actions within the next 12 months, 28% will purchase raw materials with sustainable characteristics or will commit to encouraging green travel for their customers. Furthermore, 1 in 4 operators expresses the intention to select attentive suppliers
Tourist operators are acquiring an increasingly marked awareness of the interconnection between environmental sustainability, the climate crisis and the direct impact that these dynamics have on the management of accommodation facilities. 66% of operators had to deal with the direct and indirect effects that this crisis generated on company activities and, in response to the urgently evolving climate scenario, they deemed it imperative to take proactive measures to address the unforeseen weather events. In particular, approximately 1 in 2 tourist operators have decided to take out insurance coverage for atmospheric events.
Among the other strategies adopted in favor of greater attractiveness, 1 operator in 4, for example, has chosen to focus on the renewal and modernization of the structure while 23% of respondents have instead expressed interest in investing in systems for renewable energy production. This is followed by investment intentions in the purchase of new equipment (10%) and in digital marketing activities and tools (8%). Only 18% of operators do not plan to make investments in the near future. Regarding the offer, 41% of operators in the sector expect an increase in list prices caused on the one hand by higher management costs, and on the other by the revision and/or expansion of the services offered to the facility’s customers.
A change of pace at a strategic level will also concern the review of customer relationships, with the staff but also with the credit institutions. In this regard, 30% of the operators interviewed will mainly review the payment conditions allowed to customers (7%), while 6% hypothesize the deferral of the payment of mortgage and loan installments.
The Tourism Observatory has also mapped all those aspects that have affected their operations more than others. Among the most frequently encountered phenomena, in first place is the lower spending capacity of tourists (53%), followed by the contraction in internal demand compared to the recent past (49%) and the reduction in the average stay of tourists in facilities which, in 42% of cases, they prefer shorter holidays on average. In addition to these factors, another relevant trend is represented by change in the seasonality of tourist flows compared to the previous year, reported by almost 4 out of 10 operators. Furthermore, 32% of those interviewed state that the lengthening of the tourist seasons is already having or will have an impact on the operations of their
business.
Even the aspects related tofood and wine offer occupy an important place among the services to be developed. The accommodation facilities, in fact, declare that they have projects planned which include the possibility of carrying out tastings of typical products directly in the facility (27%), of purchasing local products directly inside (24%) but also of introducing the use of ORGANIC products (16%).
Finally, from the Nomisma Tourism Observatory for UniCredit also emerges the interest in responding to needs of those traveling for work. The offer of services closest to the new market demands also concerns the business offer, with 1 structure in 5 planning to activate agreements with external co-working or create coworking areas in the common areas of the structure in the next three years but also to make smart working stations available in the room (18%).