A local lobby group working in the hotel sector said on Wednesday that luxury hotels in Milan saw a sharp rise in room prices during the Winter Olympics, stressing that visitors to the games tended to spend heavily.
Italy hosted the Winter Games from February 6 to 22.
While mountain resorts such as Cortina d’Ampezzo and Bormio were the venue for mountain sports, indoor activities such as figure skating, speed skating or ice hockey were held in Milan.
The city’s high hotel occupancy rate contrasts with weak demand for short-term rentals.
Ticket prices of several hundred euros have put these events out of reach for many, resulting in ice rinks being filled with wealthy spectators.
The Milan Hotel Owners Association reported to Reuters that the average price of a hotel room in Milan rose to 319 euros per night between February 3 and 23, compared to about 225 euros in the same period last year.
Five-star hotels recorded the largest increase, as average prices were 87 percent higher compared to 2025, while prices increased by 46 percent for four-star hotels and about 20 percent for three-star hotels.
The Hotel Owners Association stated that these rates peaked between February 11 and 14.
