With the Milan-Cortina 2026 Winter Olympics on the horizon, Italy is preparing for a fresh wave of opportunities in the short-term rental sector. From 6 to 22 February 2026, the Games will attract thousands of visitors from across the globe, becoming a significant economic driver for the hospitality industry.
A Deloitte study for Airbnb estimates the total impact could exceed €154 million, with over €33 million in local taxes benefiting the host regions. Homeowners listing their properties online could earn an average of around €2,400 during the Games. Guests, meanwhile, are expected to spend an average of €150 per day, mainly on restaurants, shopping, cultural experiences, and entertainment.
It is a golden opportunity, but not without its challenges. Italy’s short-term rental market, currently worth around €66 billion, is highly competitive: over 640,000 properties are active on major platforms, while nearly 10 million second homes remain unused.
“Rates in central Milan and Cortina are already rising by up to 200%, reflecting strong demand,” explains Gianluca Del Mastro, industry expert and hospitality consultant. “But simply raising prices won’t guarantee a profit. Those who improvise as hosts risk losing more than they earn. A clear strategy, attention to detail, and compliance with the rules are essential.”
Del Mastro highlights that accommodation quality and the guest experience are key. “I often see apartments with neglected or poorly maintained furnishings. During a global event like the Olympics, you need to sell an experience, not just a bed.”
Visitor needs will vary: athletes and staff will want practical, nearby accommodation; volunteers and delegations will look for affordable, well-connected options; international tourists will seek authentic experiences, even away from the main attractions; families and groups will prefer spacious, well-equipped apartments; and younger guests – particularly Gen Z and Millennials – will be drawn to iconic locations like Cortina.
Competition will be global. Major platforms are already preparing premium services and competitive offers, which could challenge smaller owners. “Flexibility, personalised check-ins, and careful attention to hospitality can make all the difference,” adds Del Mastro. “Hosts who build loyalty among international guests during the Games can create a solid foundation for the future. A satisfied guest will return and become an ambassador for the property.”
Risks remain. Fiscal and municipal regulations on short-term rentals require strict compliance with tourist taxes, licences, and building standards. Ignoring these rules can lead to heavy fines and sharply reduce profits. Hidden costs – cleaning, maintenance, supplier management, and guest support – can also impact margins.
In short, the 2026 Olympics offer an extraordinary economic opportunity, but only for those who manage it professionally. “A well-prepared, strategic host can turn the event into a springboard for a lasting business,” concludes Del Mastro. “Those who improvise risk seeing their earnings slip away.”