Taylor Swift Concerts Break Hotel Records in Australia

CoStar said both Sydney and Melbourne, Australia posted their highest average daily rate for any month on record, according to February’s preliminary data. As to why, all you need to know is Taylor Swift’s Eras tour was there. February 2024 hotel occupancy in Melbourne was 78.1%, up 8.5% year over year while the average daily rate was up 11.4% to A$244.80 resulting in a 20.9% year over year rise in RevPAR to A$191.18. In Sydney, occupancy was up 5.9% to 86.5% while ADR was A$329.05, up 16.4% resulting in a 23.2% RevPAR rise to A$284.47. CoStar said Melbourne’s hotel occupancy remained above the 70% average mark with the exception of six days. February 17th had the highest levels with occupancy at 91.8% and ADR at A$459.10. In Sydney, there were four Taylor Swift concerts with ADR levels going as high as A$527.52 on February 24th. The highest daily occupancy was actually on a non-Swift concert day, at 93.6% on February 20th. Th