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Fashion week pays you rent

Fashion week pays you rent

Fashion Week brings an important influx of money to Milan. Airbnb knows something about it, which this year set a record for bookings

In 6 days there were 210 total appointments, including 68 fashion shows (61 physical and 7 digital), 104 presentations, 7 presentations by appointment, and 30 events. Intense marathon and thanks to the return of clear participation from abroad: 300 journalists and 450 buyer, Including a small tray set. A release driven by the encouraging numbers for fashion: despite the energy crisis, Italian fashion sales volume increased by +25% in the first half of 2022. This is the highest growth in this sector in the past 20 years.

Milan Fashion Week is more than just presentations and fashion shows: some of the unmissable exhibitions opened this week, such as the Richard Avedon Gallery at Palazzo Reale, Giovanni Gastel in Via della Spiga and Max Vadokulle at Gallery Suzzani.

Short-term rental boom

But all this also leads to a boom in the economy in Milan, where Airbnb achieved 458% + compared to 2021 in the first half of the year. While searches for short-term rentals rose 543%, more than fivefold. According to data processed by Airbnb, the average earnings of a “host” during Fashion Week is about 3,050 euros. No. regardless of housing type, area and area.

For those who went to Airbnb and looked, for example, for an apartment from September 21-24, there were some surprises: inside the inner ring road, there were no less than 300 euros per night. Going a little further, it went down to 250. However, that was all in the middle run out.

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Demand is rising… so are prices

According to research by Airdna, presented yesterday at Palazzo Marino on the occasion of Home Sharing Day 2022, organized by the OspitaMi Association, in Milan, for the first time since the outbreak of the pandemic, demand for short-term rentals has increased beyond 2019 levels to August 2022 (+3 %).

This resulted in an increase in the average daily rate, which did not, however, discourage tourists wanting to spend more after a long period without holidays.

Milan follows a growth trend, observed across Europe since the beginning of the year: in August 2022 the 50 largest short-term rental markets raised occupancy levels to an average of +10.5%, Italy also has the highest employment rate ever (80%), with The supply has not yet met the increasing demand. In our country, 85% of short-term rental bookings come from international travelers, 51.3% from European countries, and 16.6% from the United States.

Milan, the capital of short-term rentals

Giacomo Trovat, Regional Director for Airbnb in Italy, which is a partner in the event, says:Hospitality at home is critical to the development of tourism in Milan. On the one hand, it allows the city to expand the opportunity offered by the return of major events and aliens to pre-pandemic levels. On the other hand, it enables new trends such as long-term stays and smart work, with excellent results in midweek and off-season stays.“.

Amazing rates even for hotels regardless of stars. A 2-star hotel in the central station area asks more than 300 euros for the night of September 21, while a 4-star hotel in Viale Monza asks 440 euros. And for those in Milan but not for Fashion Week?!