WASHINGTON – 12 June 2024 Madonna’s final concert of her Celebration Tour pushed Rio de Janeiro’s hotel performance in May, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

 

May 2024 (year-over-year % change):

  • Occupancy: 62.0% (+6.0%)
  • Average daily rate (ADR): BRL729.06 (+19.9%)
  • Revenue per available room (RevPAR): BRL452.14 (+27.2%)

 

On Saturday, 4 May, Madonna wrapped her Celebration Tour with a free concert on Rio de Janeiro’s Copacabana Beach, which attracted over 1.6 million fans, and resulted in the market’s highest daily levels for the month: occupancy (83.9%), ADR (BRL1,225.95) and RevPAR (BRL1,028.83). The daily ADR and RevPAR levels were also the highest since early February 2024, while occupancy was the highest since November 2023.

 

The second-highest occupancy levels were seen on Wednesday, 22 May (82.5%) – the second night of the FPSO Brazil Congress, which overlapped with the final night of the Argus Rio Crude Conference.

 

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Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 82,000 properties and 10.7 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.