Cortina d'Ampezzo, a resort town known for its winter sports, is experiencing an unprecedented spike in rental prices ahead of the Winter Olympics scheduled for February 2026. Many property owners are listing their homes for exorbitant rates as the town prepares to host the global event.

Some apartments measuring 80 square meters are reportedly available for 51,000 euros for the 17-day duration of the Games, translating to around 300 euros per person per day if accommodating ten guests.

This rate stands in stark contrast to the average daily costs in local hotels, which range from 1,500 euros for a four-star hotel room to 2,500 euros for five-star accommodations.

Although interest from potential renters is high, the supply of available rentals is limited, partly due to extensive hotel renovations scheduled to be completed post-Games, with many existing hotels not operational in time for the event.

The mayor of Cortina, Gianluca Lorenzi, has urged local operators and hotel owners not to exploit the situation, emphasizing the importance of the Olympics for the town's future economic prospects.

It is expected that billions globally will tune in to watch the Games, presenting a prime opportunity to showcase Cortina.

Historical context indicates that Cortina has faced economic challenges in the years leading up to the Olympics, with declining tourism and hotel closures marked by a drop in visitor numbers and investments.

Private investments are required for revitalization, as emphasized by local business leaders.

Nine large hotels are currently undergoing renovations or reconstructions, attracting significant investment from major hotel groups, including the Mandarin Oriental.

Despite this influx of capital, the immediate effects of this construction serve to exacerbate the housing crisis.

Currently, with a local population of about 5,500, Cortina can accommodate only just over 4,000 guests in its hotels.

Industry representatives estimate that at least 6,500 beds will be necessary to meet the needs of the Olympic Family, and possibly up to 10,000 when factoring in general spectators.

The demand is further complicated by the need to house thousands of law enforcement officials and staff required for the event.

In terms of Olympic infrastructure, the Olympic Village will be temporarily established at a cost of approximately 35 million euros.

Some local representatives have criticized the decision not to create permanent affordable housing through this initiative, especially to accommodate the workforce involved in the hospitality and retail sectors.

Cortina, long regarded as a destination for affluent tourists, has seen demographic shifts in its visitor base, with an increasing number of foreign tourists now outnumbering Italian visitors, a reversal from years past.

This trend presents challenges for local residents who strive to maintain livability amidst rising costs and evolving economic realities.

In light of ongoing developments, the future of Cortina will hinge on its ability to manage the logistical demands of hosting a global sporting event while addressing local housing needs and preserving its community fabric.