concert travel
Less Global Markets Show RevPAR Growth, but Olympics and Concerts Produce Highlights
CoStar Group | August 30, 2024
Note: All financial figures presented in US$. STR's global "bubble chart" update for the four weeks ending 24 August 2024 shows 61% of markets with year-over-year growth in revenue per available room. That was a three-point decline in the proportion of global markets: 64% experiencing matched four-week RevPAR gains in last month's update. Among countries with 50,000 rooms and adequate hotel reporting levels, France, Greece, Singapore, Switzerland and Ireland — mostly the same as last month’s set of higher-priced countries with exception of Ireland in place of Italy—posted the highest RevPA...
Taking the “Swift Lift” Overseas
U.S. Travel Association | May 24, 2024
By Joshua Friedlander This summer, millions of Americans will travel to Europe, many to visit historical cities and one-of-a-kind beaches like Sitges, Biarritz, Tropea and Mykonos. But in Europe this year there is another one-of-a-kind attraction drawing travelers from the States in record numbers—the European leg of Taylor Swift’s “Eras” tour. Taylor's record-setting concerts across the U.S. in 2023 made fans and economists alike rethink the impact an artist can have on a city or region. With ticket prices regularly reaching 4-digit levels, and fans traveling distances reminiscent of festivals like Coachella, the economic impac...
Coldplay Concerts Drove Singapore Hotel Performance in January, Taylor Swift Up Next in March
CoStar Group | February 15, 2024
WASHINGTON – 15 February 2024 – Helped by Coldplay’s World of the Spheres Tour, Singapore hotels saw healthy performance growth, according to preliminary January data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. January 2024 (year-over-year % change): Occupancy: 72.8% (+9.6%) Average daily rate (ADR): SGD334.46 (+3.3%) Revenue per available room (RevPAR): SGD243.55 (+13.2%) Singapore posted its highest daily occupancy levels toward the end of the month, helped by six Coldplay performances that took place between 23-31 January. The ma...
Hotel Performance Standouts During Beyonce’s World Tour
CoStar | October 25, 2023
Analysis by M. Brian Riley Concerts and major events have always been important revenue opportunities for hotels, but 2023 has felt like the “year of the concert” with major tour generating headlines and lifting performance all over the world. In the U.S., much of the attention went toward Taylor Swift’s The Eras Tour, which STR previously estimated added $208 million in U.S. room revenue. More recently though, there has been another female pop star rocking the economy – and in many markets, hotel performance. Beyoncé’s Renaissance World Tour generated a projected U.S. economic impact of $4.5 billion, according ...
The Best Seat in the House is a Cheap Seat
Anthony Davis | September 13, 2023
By Anthony Davis If you were to travel to see your favorite musical act in any city in the US, which city would you choose? How would you decide? Would you want to travel somewhere with a famous music scene, a fun destination with things to do and good infrastructure, or look for the cheapest ticket you can find? We know from previous HVS analysis that many fans are willing to travel, but that not all concert tour destinations have the same appeal. Why do different stadiums or cities get more visitors and associated imported economic impact than others? To answer this question, we gathered data from Pollstar on four large domestic tou...
