concert tours
Are Concerts “Running the World?”: A Look at How Beyoncé’s Renaissance World Tour Has Impacted Europe Hotel Performance
STR | June 19, 2023
Okay, hotels, “now let’s get in formation”, because major concert tours seem to be boosting performance all around the world. In May and June 2023, the stage was Europe for Beyoncé’s Renaissance World Tour, which featured 19 shows across 14 European cities. Let’s just say that the hotel industry is likely “crazy in love” after the impact Beyoncé had on the region. Feeling the music after our recent Taylor Swift tour analysis, we took a quick look at Beyoncé’s impact on actualized performance in the U.K. and Sweden, as well as forward bookings in five active Forward STAR markets. United Kingdom Four U.K...
U.S. Hotel Performance Enchanted by Taylor Swift’s “The Eras Tour”
STR | June 12, 2023
Analysis by M. Brian Riley The hotel industry knows concerts “all too well,” as they have long been one of the top catalysts for high occupancy nights and premium room rates. That dynamic has been center stage over the last three months, as Taylor Swift’s “The Eras Tour” added $98.2 million in room revenue to the U.S. hotel industry. Remaining tour dates over the rest of the summer are also leading to spikes in bookings. Methodology The U.S. leg of the tour began in mid-March and will conclude in August. To measure the impact at the tour’s halfway point, STR analyzed hotel performance for the nights of the first 28 shows ...
