Milan hotels have reported record-breaking performances during Expo Milano 2015 (1 May - 31 October).
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% lift in revenue per available room when compared with the same six months from 2014.
The absolute RevPAR of 129.09 euros was driven by a 17.8% increase in occupancy to 77.4% and a 28.2% rise in average daily rate to 166.68 euros.
Of the six months the event covered, October provided the largest boost with RevPAR surging 75.1% to 167.66 euros — the second highest monthly RevPAR value ever recorded for Milan and an October high for the market. Occupancy increased 26.3% to 90.8% — the highest absolute occupancy on record for any month in Milan.
August, generally the weakest month of the year for RevPAR in Milan, produced a RevPAR increase of 67.8% to 80.89 euros.
According to Expo Milano, more than 20 million guests were expected to visit the event’s 1.1 million square meters of exhibition area.
