Madonna Concert Drove Rio de Janeiro’s Hotel Performance in May

CoStar Group | June 12, 2024

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 fa...