Venice’s hoteliers association estimates that the city’s hotels suffered about 30 million euros ($34 million) worth of structural damage during November’s floods.

The overall losses though are higher after adding in the lower revenues that local hotels have reported in the wake of the surging high tides that afflicted the lagoon city. Earlier this month, the city’s hoteliers association said that in the immediate aftermath of the flooding, 45 percent of reservations were cancelled.

“We are still waiting to calculate the loss in revenue and to quantify how much was lost in terms of cancelled reservations,” Venice hoteliers association’s president Vittorio Bonacini said on Friday during a press conference in Rome with the foreign press.

Last month Venice suffered its worst flooding in more than 50 years, with its houses, businesses and historic monuments severely hit. Total damages are estimated at around 1 billion euros.

Venice attracts more than 25 million tourists each year and the effects of mass tourism on the fragile lagoon environment have fueled a decades-long debate on the future of the city.

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Photo Credit: In this Friday, Nov. 15, 2019 file photo, a man holds his luggage as he wades his way through water in Venice, Italy. Venice's hoteliers association estimates that the city's hotels suffered about 30 million euros ($34 million) worth of structural damage during November's floods. The overall losses though are higher when the lower revenues that local hotels have reported in the wake of the surging high tides are added in. Luca Bruno / Associated Press