My wife and I went to venice for the weekend in January, we took a 1/2 day and flew BA into Marco Polo airport from London.
We had pre booked a water taxi transfer, which all worked out really well, it was very romantic and we were the only ones on the taxi.
note: the walk from airport to water taxi is 10+ minutes, so not ideal for all persons.
We stayed in La Commedia, which we booked through Expedia online and found very reasonably priced, very good standard, I think we had the deluxe room, and perfectly located, 2 mins from the Rialto bridge, but also quiet at night.
Venice is so small that wherever you stay will be within walking distance from most attractions, restaurants and shops, so if you are looking at the map thinking you need to be close to something in particular (which I did), relax as it really is so small you are a short walk from most things.
January seemed to be a good time to go, we had blue skies, sunshine (sun glasses), it was chilly, but if you are wrapped up warm (coat, scarf, gloves) then its not a problem. It also seems to be quieter, so less tourists, just a nice buzz, reasonably priced restaurants and gondolas (EUR70 for a tour with some singing - great fun!).
note: the roof bar was not open in January.
We had been warned several times about the cost of everything in Venice being high, but living in London, and being used to London prices, we really didn't notice it. That said we did not take a dinner in st marks square, we opted for recommendations from trip advisor.
Take some comfortable shoes for walking around, as there is lots to see - make sure you go to Harrys bar (if you can find it!) - get a bellini - it will cost you 10 or 15 EUR's but its a one off / tick in the box.
We spent 2 days, and 2 nights there, and we saw a lot, but you could easily spend longer in Venice, take the time to soak up the atmosphere, enjoy the culture - we cannot wait to go back.
Enjoy!
Room Tip: deluxe room
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This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC.