Milan has been a favorite destination for travellers for decades. It’s Italy’s second-largest city and a hub of business, finance, and fashion. Through its numerous industry events, fashion shows and festivals, the city has developed a solid hospitality sector that’s on par with other global culture capitals. Home to Italy’s stock exchange and one of Europe's largest trade fair and congress venues, Milan has experienced significant growth in the events and conference sector. According to the International Congress and Convention Association (ICCA), Milan climbed from the 42nd to the 32nd position in the world ranking of organizers of exhibitions and congresses. The city's airports, particularly Malpensa International Airport, have also experienced a dramatic rise in activity. The total passenger movements increased at a compound annual growth rate (CAGR) of 5.2% from 2009 to 2019. Despite the challenges posed by the pandemic, Malpensa recorded 21 million passengers in 2022, which represented a significant recovery to 78% of pre-pandemic figures. Linate Airport has also seen a shift towards regional and international routes with international travelers accounting for nearly 70% of passengers in 2022. Milan’s hotel market remains dominated by four-star properties, comprising close to 60% of total room stock. However, the city is poised for further expansion with approximately 1500 rooms set to enter the market in the next five years. These developments range from upper midscale to luxury positioning and are expected to be operated or franchised under international brands. The pandemic proved itself to be devastating for hospitality, but through it all Milan’s hotel market demonstrated quick recovery. In 2022, room occupancy reached 80% of pre-pandemic levels. This bounce-back, coupled with a healthy improvement in average room rates, has restored revenue per available room (RevPAR) to pre-pandemic levels in nominal terms, signaling a promising outlook for the city's hospitality sector.