To wrap up summer, Kyle shares some newsworthy real estate headlines and COVID observations from Italy, key takeaways from his conversation with Alberto and Enza Barba, information about his next online poll, and future guest commentary.
00:15- Episode Introduction
Kyle expresses the special nature of his podcast, as it was recorded on-location in Positano, Italy after his conversation with Alberto and Enza Barba (Episode 20).
00:53 – BREAKING NEWS: Italy
00:57 – Brighter Economic Prospects Ahead
Italy experienced negative GDP growth of 8.9% in 2020, but has rebounded to the point where the European Commission forecasts average annual growth of 4.4% between 2021 and 2022.
1:16 – National and Local COVID Information
Italy has managed to vaccinate 40% of its population, though the pandemic has resulted in 4.2mm COVID infections and 128k deaths in the country. Positano has fared much better, with a meager 130 infections and no deaths.
1:48 – Improving Tourism Picture
Venice hotels have recently reported 70% occupancy and anticipated bookings for Summer 2021. In Positano, hotel owners have indicated current occupancy in the 50-80% range, with more guests arriving on the weekends. Meanwhile, the Uffizi Gallery in Florence reported a 40% increase in visits from the first to the fourth week of May. Italy expected 39 million tourists to visit in June through August, which would be a 12% YoY increase.
2:42 – US to Italy: Airport Experience
At Newark Liberty Airport, the check-in process caused confusion among passengers, as limited airline personnel were present to address COVID testing & vaccination concerns. On the other hand, the arrival experience at Rome’s Fiumicino Airport was surprisingly easy, as the authorities eliminated a mandatory antigen test for incoming passengers the day prior to Kyle’s arrival.
3:44 – Mask Wearing Protocols
Masks have been required both inside and outside since October 2020, but this regulation was largely ignored in all but a few places in Positano.
4:07 – Tourist Composition
Most of the non-Italian visitors in Positano during Kyle’s stay were French and German, with a handful of Americans also observed. In contrast to a normal year when 80% of business comes from Americans, restaurants are mostly catering to Italian guests from elsewhere in the country.
5:07 – Removal of Mask Mandate
On June 28th, the outdoor mask mandate was removed across Italy, but the Campania government indicated it would remain in place for another two weeks because of India Variant concerns.
5:28 – GUEST INSIGHTS: Enza and Albero Barba
5:50 – Challenging Approvals for Redevelopment
The process of moving forward with any sort of property redevelopment is never straightforward, as the local government / zoning rules are ambiguous. A certain rule may or may not exist on paper, but collaboration with authorities is still needed.
6:14 – Change & Cancellation Fees
Local property owners are suffering economically because they cannot assess the usual changes for booking changes and cancellations due to COVID.
6:49 – Booking.com Dominance
Booking.com is the predominant way that hotels and B&Bs advertise on the Amalfi Coast.
7:24 – Competitive Hospitality Environment
Despite its relatively small size, the hospitality business in Positano is a very competitive one. Competitors are constantly watching each other to see whether regulations and procedures are obeyed.
8:00 – MONTHLY SURVEY
8:15 – Which of the following European countries will have largest year-over-year change in tourist visits?
- Greece
- Italy
- Spain
- Portugal
- France
8:47 – NEXT GUEST
The next episode will feature a dynamic, accomplished couple who has renovated over 100 apartments into high-end turnkey homes in upscale Parisian neighborhoods.
