Article Summary:
1. Taylor Swift's "Eras Tour" in Asia-Pacific is causing a significant surge in hotel occupancy and prices.
2. Hotels in Melbourne, Sydney, and Singapore are nearing sell-out conditions, with Tokyo also experiencing high booking levels.
3. Occupancies are considerably higher during Swift's concerts, indicating the "Swift effect" driving demand.
4. Hotel prices are significantly increasing across Asia-Pacific tour stops, with the most aggressive pricing in Australia.
5. Short-term rental properties see milder price increases compared to hotels, potentially due to factors like location, capacity, and market development.
Top Takeaways:
- Taylor Swift's tour is significantly impacting the hospitality industry in Asia-Pacific, leading to high occupancy rates and price surges in hotels.
- The "Swift effect" is evident, with hotels experiencing increased demand during concert periods, especially in cities like Melbourne, Sydney, Singapore, and Tokyo.
- Hotel prices are soaring, particularly in Australia, showcasing the economic impact of major events like Swift's tour.
- Short-term rental properties are seeing less dramatic price increases compared to hotels, possibly due to factors like location, capacity, and market maturity.
- Overall, hotels in Asia-Pacific stand to benefit the most from the Eras Tour, enjoying a substantial revenue boost.
Tools Mentioned in the Article:
1. Hotel occupancy rates
2. Hotel pricing data
3. Short-term rental occupancy and pricing data
4. On-the-books (OTB) occupancy analysis
5. Comparative pricing analysis
6. Market research and analysis
7. Academic estimates and research (Mitsumasa Etou's estimation of event revenue)
8. Reserve Bank of Australia's commentary
9. Market attractiveness assessment
10. Supply and demand dynamics analysis
Taylor Swift's Eras Tour is in full swing across the Asia-Pacific region, and the demand for hotel rooms is skyrocketing.
Our latest blog post explores demand and pricing for hotels and short-term rentals during the Eras Tour. With occupancy rates over 80% across all stops, hotels are the top choice for Swifties. And as she gears up for her shows in Sydney, the local hotel market looks set to hit its own high note this weekend...
Take a look here 👉 https://otai.co/49FvAdH
#hospitalitytechnology #businessintelligence #hotels #revenuemanagement #taylorswift
Asia-Pacific leg of Taylor Swift’s Eras tour: Increased demand and hotel room rates down under
mylighthouse.com
Manager, Business Development - Thomas Edwards Group; Energetic former CPA; Relationship builder; Ready to help
1moThis cover/graphic/photo is AMAZING!!! Love it Virtuoso Travel!