Milan alone is gearing up to welcome an estimated 1.6 million spectators over the course of two weeks, leaving locals wondering what the impact on their city will be. Around town, a tentative optimism seems to prevail. Ask a barista, restaurant server or dry cleaner if they’re excited for the Olympics, and you’ll often get a noncommittal, “sì” delivered with shrugged shoulders and a quick, tilted double head nod.
Lucrezia Bosone, who runs a branding agency and grew up in Milan, is sceptical. “I just don’t know if the city will be able to handle it,” she says, comparing the upheaval with that of Milan Design Week that causes traffic snarls and crowds across the city.
Hotel room rates for January are already showing a sizeable increase, too. At the Excelsior Hotel Gallia, a Luxury Collection Hotel, Milan, rates are comparable to Milan’s peak periods – Design Week in April and the spring and fall editions of Fashion Week – with several rooms booked months in advance. In the weeks immediately preceding and following the Games, rates remain above average.
Marco Terzi, CEO and founder of Xenia, a short-term rental company that manages over 130 Milan properties, cites a similar pattern, noting that rates during the opening ceremony, the first weekend and major finals are 70 to 120 per cent higher than a typical February, with “prime location” apartments costing nearly 150 per cent more. He has noticed clear peak periods around the days leading up to the opening ceremony and the first weekend, as well as a steadier but still higher middle stretch, and only a slight easing after the closing ceremony. Stays range from quick two- or three-night “hit and run” visits, timed to a single event, to longer seven- to 14-night bookings from staff and media.
