Preliminary CoStar data show Milan’s hotel market delivered one of its strongest months on record in September 2026, as sporting, trade and fashion events pushed room rates and revenue close to the highs seen during the Winter Olympic Games earlier this year.
Hotel occupancy reached 84.2% during the month, up 1.6% year over year. Average daily rate rose 7.2% to €310.04, while revenue per available room increased 8.9% to €261.17.
The results marked Milan’s second-highest monthly average daily rate and RevPAR on record. Only February 2026, when the city hosted the Winter Olympic Games, produced stronger rate and revenue performance. September occupancy was also the market’s highest since October 2019.
The Italian Grand Prix generated the month’s peak hotel demand. On Saturday, Sept. 5, the event’s second night, occupancy reached 95.3%, while ADR rose to €444.75 and RevPAR reached €424.07.
On Sept. 15, the final day of MICAM Milano overlapped with SIMAC’s opening day, helping occupancy reach 94.7%, the second-highest level of the month. Hotels recorded an ADR of €301.17 and RevPAR of €285.21 that night.
Milan Fashion Week, held Sept. 22-26, further increased demand. Occupancy climbed to 93.5% on the event’s second night, while ADR reached €396.59 and RevPAR rose to €358.30 on the fourth night.
Across the month, hotel occupancy exceeded 70% on all but two nights.