London hotels saw a spike in hotel performance during Taylor Swift’s Eras Tour, according to August preliminary data from CoStar.
Year by year there are changes and the results in August 2024 are :
– in terms of occupancy: 83.9%, an increase of 2.7% compared to last year)
– in terms of average daily rate (ADR): GBP 191.94, an increase of +5.1%
– in terms of revenue per available room (RevPAR): GBP160,98, an increase of +8,0
On 15-17 and 19-20 August, Swift wrapped up the European leg of her tour at Wembley Stadium. Hotel performance levels reached a monthly high on the night of the third concert (Saturday, 17 August), which pushed occupancy to 94.0%, ADR to GBP239.01 and RevPAR to GBP224.77. The market’s second highest performance metrics were seen on 16 August: occupancy (91.8%), ADR (GBP224.36) and RevPAR (GBP205.92).
Overall, London’s occupancy remained above 80% in all but five days during August.
