Record hotel rates during Milan Expo 2015

Record hotel rates during Milan Expo 2015 Milan Expo ran for six months to October this year

According to an analysis by STR Global, hotels in Milan, Italy, reported record-breaking performance in October and significant performance increases across the six months of Expo Milano 2015.

Aggregated data for Milan from May through October showed a 51.1 per cent lift in revenue per available room when compared with the same six months from 2014.

The absolute RevPAR of EUR129.09 was driven by a 17.8 per cent increase in occupancy to 77.4 per cent and a 28.2 per cent rise in average daily rate to €166.68.

Of the six months the event covered, October provided the largest boost with RevPAR surging 75.1 per cent to €167.66 - the second highest monthly RevPAR value ever recorded for Milan and an October high for the market.

Occupancy increased 26.3 per cent to 90.8 per cent - the highest absolute occupancy on record for any month in Milan.

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August, generally the weakest month of the year for RevPAR in Milan, produced a RevPAR increase of 67.8 per cent to €80.89.

According to Expo Milano, more than 20 million guests were expected to visit the event’s 1.1 million square meters of exhibition area.