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- Hotel occupancy in Milan is already above 85% for key Winter Olympics dates, with average daily rates set to rise nearly 50%.
- Limited hotel supply and Milan’s status as a global gateway are fueling record-breaking demand, further boosted by Fashion Week following the Games.
As Milan prepares to host the upcoming Winter Olympics, the city’s hotel industry is experiencing an unprecedented surge in bookings. According to CoStar data, hotel occupancy for the Olympic period is as high as 85.2%. Four nights during the two-week event are pacing above 80% occupancy, with the peak expected on February 11. Even on the night of the opening ceremony, February 6, occupancy is already at 82.9%.
The lowest occupancy forecast during the Olympics is for the closing ceremony night, at 71.4%, consistent with trends observed in other Olympic host cities, such as Paris during the 2024 Summer Games.
Industry experts attribute this strong performance to several factors. Aoife Roche, regional vice president of EMEA sales at STR, noted that Milan’s limited hotel supply, enhanced public transportation, and its role as an international travel gateway are all contributing to the high demand. Unlike previous Winter Olympic hosts, Milan is a midsize hotel market, which means fewer available rooms and consequently higher occupancy rates as both tourists and officials flood the city.
CoStar also projects that Milan’s hotel occupancy for February will reach 77.9%, marking the highest February on record for the city. The average daily rate (ADR) is expected to jump by 48.1% year over year, reflecting the intense demand. Adding to the excitement, Milan Fashion Week will kick off just two days after the Olympics conclude, further sustaining high hotel occupancy and rates.
With the city’s hotels nearly full and prices soaring, Milan’s hospitality and travel sectors are set for a record-breaking season, underscoring the powerful impact of global events on local economies.
