The World Milan Expo 2015: Short-term Effects on Hospitality Firms

This study investigates the effects generated by a mega-event (the World Expo 2015) on a destination (Milan), using social network analysis. The horizontal visibility graph was used to transform the time series in a network. Two hypotheses are tested: first, the ability of the Milan Expo to generate a turning point; second, the ability of this event to increase the network stability. The findings are based on a longitudinal analysis (2004-2017) of three widely used metrics: occupancy, average daily rate, and revenue per available room. The empirical evidences confirm both hypotheses. The Milan Expo has generated a positive turning point increasing the system stability. In the conclusions section some theoretical and practical advancements are proposed, along with the implications for the future research, and the main study limitations.