Overall, our data suggests that Milano Cortina 2026 will be an event of exceptionally high economic and reputational intensity.

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It does more than bring in tourists; it accelerates the changes already underway in the area. What matters is not how many visitors come overall, but how many arrive at once—right when mountain destinations are at their busiest and most sensitive point in the winter season.

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The true scale of the event becomes clear where the Olympic schedule, peak ski season, and international interest overlap.

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Over the core days of the Winter Games, rates rise sharply, often reaching 150% higher than usual.

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The increase in air capacity to Milan and Venice confirms growing interest from international markets, with Milan standing out as the main gateway for long-haul travellers.

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This scenario points not only to a significant influx of people, but also to tourist spending that is strongly concentrated on accommodation, which is expected to absorb the largest share of the overall economic impact (68%).

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All of these signals outline a visitor who is relatively unconcerned with spending, yet expects a high level of service—particularly in hospitality.

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For destinations and operators, the real challenge will be to manage this pressure effectively, turning the Olympic peak into a positive and lasting legacy for the territories involved.

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The main insights include:

• Rates more than doubled: Hotel and short-term rental prices on online platforms point to a strong willingness to spend among visitors. During the two weeks of the Winter Olympics, rates are on average more than 146% higher than the previous year, with a peak between 10 and 17 February. The highest average rate is recorded on 13 February (€461).
• OTA saturation above 50%: OTA saturation—measured as the ratio between available and booked listings on platforms—stood at 40–55% in mid-January, a figure significantly higher than last year. OTAs account for only part of total sales, as during high-demand periods most properties prioritise direct channels; as such, this data may indicate a trajectory towards sell-out.
• Geographically widespread pricing pressure: Rate increases affect all destinations, with marked differences between percentage changes and absolute values. Predazzo records the most moderate increase (+49% YoY), while Tesero shows the highest(+103%). The most elevated rates are in Cortina d’Ampezzo (+88% YoY, ADR €983) and Livigno (+52%, ADR €612), where peak rates reach up to €1,750 per night.
• High-spending visitors favouring upscale hotels: 4- and 5-star hotels show the highest occupancy rates (around 45%) alongside significant price increases (+62% and +43%). Maximum rates in these categories average up to €2,600. That said, almost all hotel categories show a sharp rise in average rates on online platforms, with 2-star hotels reaching increases of up to +102%. Only a few more rustic accommodation types, such as campsites, show slightly declining prices.
• Short-term rentals see the sharpest rate increases: the short-term rental segment also benefits strongly from the Olympic effect. This category records the highest overall price increase (+171% YoY), with an average rate of €457, while hotels reach a maximum average increase of +131% and €449. This suggests a more diverse audience than expected—one with substantial spending power, yet still drawn to well-located, well-equipped apartments.
• Increased air capacity for medium- and long-haul markets: An in-depth analysis by Mabrian shows a solid year-on-year increase in air capacity to both Milan and Venice, the main Olympic hubs. Growth is driven primarily by medium- and long-haul international markets. Air capacity to Milan’s airports is up by 6% YoY, with more seats from Spain, the UK and Germany, as well as significant increases from the United Arab Emirates (+30.2%), the United States (+15.7%) and China (+38.1%). Venice Marco Polo Airport also records a +5.6% increase in air connectivity, from both international markets (including the UK, Spain, Turkey and Austria) and domestic routes.
• Hospitality accounts for the largest share of tourist spending: Over 1 million visitors are expected to attend the event, with a Predicted Event Spending (PES) exceeding €291 million. It is important to note that this figure is a conservative estimate, based on actual on-site spending in hospitality, transport, and dining, and does not include investments or indirect economic effects. Given the high proportion of international visitors, the largest share of this spending will go to accommodation (68%), followed by food and beverages (27%), with transport-related expenses accounting for just 5%.
• Skiing takes the crown at the Olympics: Looking at predicted spending by discipline reveals which events attract the most interest. Skiing events are the biggest draw, with expected spending of €23.9 million. Unsurprisingly, popular competitions like Super-G take place near the days when hotel rates peak, followed by ice hockey (€14.7 million), figure skating (€11.5 million), and snowboarding (€9.5 million).
• Sentiment and conversation drivers: The analysis of online sentiment in 2025 across the Olympic destinations paints an overall positive picture across all sectors, but with recurring pain points related to costs, waiting times and the quality of hospitality. High prices tend to amplify expectations: aligning price with experience will emerge as a key factor in protecting reputation and economic value during the Games.

1. The role of major sporting events in shaping international tourism
2. An event with significant economic and reputational weight
3. Milano Cortina 2026 dates and venues
4. Rising prices: Increases reach 146% during core days
5. Demand routes: How air capacity is changing
6. Visitor demand and economic effect of the Games
7. Sentiment and discussion topics: high expectations for the hospitality sector
8. Actionable insights for DMOs and local operators