Taylor Swift’s Eras Tour brought a surge of excitement to London, and not just to her fans. The pop superstar’s concerts at Wembley Stadium in August 2024 resulted in a significant boost to the city’s hotel industry, according to data from CoStar, a leading real estate market information provider.
The European leg of the tour concluded with concerts on August 15-17 and 19-20, and the impact was immediate. Hotel occupancy reached its peak on Saturday, August 17, the night of Swift’s third concert, hitting a remarkable 94.0%. This was accompanied by a rise in the Average Daily Rate (ADR) to GBP239.01 and a RevPAR (Revenue Per Available Room) of GBP224.77. The second-highest performance was recorded on August 16, with occupancy at 91.8%, ADR at GBP224.36, and RevPAR at GBP205.92.
The high occupancy rates extended into September, fueled by a combination of major events and the ongoing allure of London as a tourist destination. While occupancy levels remained consistently above 80% throughout the month, the average daily rate saw a slight increase to GBP195.50, with RevPAR climbing to GBP165.20. This continued high demand for accommodations in London highlights the city’s enduring appeal to visitors.
Overall, August and September 2024 were marked by strong hotel performance in London, with Taylor Swift’s Eras Tour playing a key role in the summer surge. The tour served as a powerful reminder of the impact of major events on the hospitality sector, and how artists like Swift can drive tourism and economic growth in destinations worldwide.
