Taylor Swift fans paying five times as much for rooms gives hotel sector boost
The hotel sector is set to have huge boost as Swifties travelling to the show are paying more than five times as much in hotel fees over the weekend.
As more Swifties secure last minute tickets in the latest release for Taylor Swift’s tour, Australia’s tourism market is set to hit record high prices for hotel rates across Sydney and Melbourne.
Inflated hotel prices have soared as the pop princess’ performances are limited to four nights in Sydney and three nights in Melbourne.
Taylor Swift fans gearing up for the big weekends in Sydney and Melbourne are paying 5 times as much for hotel rooms.
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Many fans lucky enough to secure tickets have had to travel both interstate and internationally to experience the highly anticipated Eras Tour.
Head of research at Ray White Commercial Vanessa Rader said in anticipation to the weekend, hotel rooms across Sydney have skyrocketed as much as 300 per cent compared to the average Sydney room rate last February, of $287 per night.
According to Ms Rader’s research, locations closer to the action around Olympic Park also have the double whammy of Blink 182 on the same weekend, resulting in few vacancies requiring multi-night stays.
Setting new highs in room rates with those left available commanding prices in excess of a whopping $1,500 per night.
Sydney Olympic Park hotels have surged to as much as $1,500 per night.
For Swifties attending the Melbourne shows, with the dates landing on the same week of Valentines day is set to be an extremely profitable period for hoteliers.
Melbourne’s CBD hotel rates jumped from an average of $220 last February now exceeding $900 per night, according to Ms Rader.
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That is also on top of hiked flight prices and some fans paying over $1,000 for the VIP concert tickets.
Ms Rader said the hotel sector across the world has felt the impact of Swiftie fever.
Last February Melbourne CBD hotel rates were an average of $220, Swifties are now paying in excess of $900 a night.
“The hotel sector has been given a much appreciated uplift after the pandemic restrictions saw many shut their doors,” Ms Rader said.
She said while tourism activity has rebounded post COVID-19 with increased flight routes and room occupancy, major events continue to be one of the biggest contributors to driving prices up internationally.
Swift kisses boyfriend Travis Kelce at the super bowl.
This week, the NFL Super Bowl -which Swift attended in support of her boyfriend Chief’s star Travis Kelce – saw the Las Vegas economy and growing room rates to more than 2.5 times their usual rate.
This was 40 per cent greater than last year’s average room rates achieved at Arizona’s Super Bowl.
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