Ahead of the Winter Olympics, Milan’s hotel occupancy on the books is as high as 85.2%, according to data from CoStar, a global leading provider of online real estate marketplaces, information, and analytics in the property markets.
Four nights within the two-week event period are pacing above 80% occupancy on the books, including the peak on 11 February (85.2%). The night of the opening ceremony on 6 February is at 82.9% – the fourth highest level across event dates.
Currently, Milan’s lowest level in Olympic occupancy on the books is the night of the closing ceremony (71.4%). This follows a standard Olympics trend which was seen most recently in Paris during the summer of 2024.
“A combination of factors—including limited hotel supply growth, improved public transportation, and Milan’s role as an international gateway market—is expected to support strong hotel performance throughout the Olympic period,” said Aoife Roche, regional vice president of EMEA sales at STR. “Milan is a midsize hotel market compared with previous Winter Olympic hosts. That lower volume of inventory will factor into higher occupancy levels as official and tourist demand enters the market.”
CoStar also forecasts major lifts in monthly performance, with February occupancy expected to reach 77.9%, which would be the highest for any February on record in Milan. While the Olympics are helping drive occupancy, Milan Fashion week also occurs two days after the closing ceremony.
Average daily rate (ADR) is expected to rise 48.1% year over year for February.
