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Thanks again for all your info and links. We are investigating spending a night or two in Stresa first, probably taking a but to Busto Arsizio and then the train to Stresa. We could wait the two hours for the Alibus, but experience tells us that with a transatlantic trip and an 8-hour time change, it is better for us to not have a two-hour wait at Malpensa. It is too hard to stay awake. We need to keep busy without being too stressed the first day or two in Europe.

Arriving at Stresa at 4:30 isn't bad, so we may do that, but we are also investigating flying into Zurich rather than Milan (Frankfurt train got us thinking. Good idea but very pricey.) Then we could take the train to Locarno, spend the night there if necessary before taking a morning boat to Cannobio. Or we could take a perhaps equally beautiful train ride from Milan through Domodossola to Locarno. Both trains get us into Locarno at about 17:30. Trains within Switzerland are relatively inexpensive. Zurich-Locarno is either 68SF 2nd class or 108 1st class. No price yet on the Italian route.

I understand about the cutbacks, and I am concerned about the boats for September. Italy has cut back on trains in some border areas, too, such that if you want to go from Venice to Lake Bled in Slovenia, you have to get off at a border town (Gorizia), walk across the border and get on a new train in Slovenia.
It is sad for some of us in the States to see the automobile will in Europe as it nearly always does here.
Again thank you for al your help.

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If you can fly to Zurich instead of FRA and MXP, things will be much easier. Zurich airport - Brissago is just a 3 1/2 hrs train and bus ride (departures every 60 min). If the timetable of the connecting Italian bus to Cannobio doesn't suit you, you can just go on by taxi (7 km resp 10 minutes).

If you land at MXP, you may take a airport taxi to Arona, small but charming town at the lower end of Lake Maggiore (28 km resp 35 minutes). Several hotels along the waterfront and between it and the railway station.

If you prefer to spend the first night in a small hotel in a usually quiet tiny village with panoramic views over Lake Maggiore, check a taxi ride to
Nebbiuno http://www.hotelcollifioriti.it/camere.html
or Colazza http://www.comune.colazza.no.it/ComStruttureRicettive.asp
both places 38 km from MXP