event travel
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 ...
A Super, Super Bowl LVII in the Valley
Zabada Abouelhana | March 6, 2023
By Zabada N. Abouelhana On February 12, Super Bowl LVII was held in Glendale’s State Farm Stadium with nearly 68,000 spectators. Attendance levels were just below the average for the last eight Super Bowls (excluding the COVID-19-affected year of 2021) and below the 2015 game’s 70,288 attendees, also in Phoenix. However, this year’s event did not disappoint the hotel industry in Greater Phoenix. Prior to the weekend, STR forecasted Phoenix’s Super Bowl weekend performance: 94% occupancy levels at $445 average rates, equating to $419 revenue per available room (RevPAR)—the second-highest levels for a Super Bowl weekend in hi...