Taylor Swift Concerts Boost Singapore Hotel Performance
Skift Take
Taylor Swift's concerts in Singapore led to record hotel performance in March, with significant increases in occupancy, average daily rate, and revenue per available room.
STR reported China hotel data for the week ended April 6th. Hotel RevPAR in China was down -2.8%, up against a very tough +108.5% comp from last year. While the average daily rate was up 0.8% year over year, occupancy was down -3.5%.
Taylor Swift was cited as the reason Singapore had record hotel ADR and RevPAR in March. There were six Taylor Swift concerts in Singapore that month. March produced the Singapore hotel industry's highest average daily rate and RevPAR in that month on record. Preliminary data from CoStar showed occupancy was up 5.1% to 79.1% while average daily rate was up 12.7% to S$358.91. That resulted in RevPAR of S$284.03 which was up 18.5% year over year. Typically the first half of the year show lower post-Chinese New Year occupancy levels. The Taylor Swift Eras Tour resulted in the highest daily levels of occupancy seen during the six concert dates with March 2nd and March 3rd leading with occupancy at 92.7% and 92.5% respectively.
