London hotels saw a spike in hotel performance during Taylor Swift’s Eras Tour, according to August preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
August 2024 (year-over-year % change):
- Occupancy: 83.9% (+2.7%)
- Average daily rate (ADR): GBP191.94 (+5.1%)
- Revenue per available room (RevPAR): GBP160.98 (+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.For more information about the company and its products and services, please visit www.costargroup.com.
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