2024-03-20 15:19:35
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Lyon, Stockholm, Warsaw… Almost everywhere the singer performs, the price of overnight stays increases and the establishments are full, notes a study.
Difficult to find a hotel room in Stockholm on May 18. On booking platforms, many are sold out or offer crazy prices. So this youth hostel in the historic center, where a dormitory bed costs 132 euros per night! In the same establishment, the following Saturday, the same bed is only 31 euros. Blame it on… Taylor Swift, in concert in the Swedish capital from May 17 to 19.
The American singer’s European tour, which begins on May 9 in Paris and will include more than 50 dates in 18 cities on the Old Continent, is causing hotel prices to soar, according to a study published on March 12 by Lighthouse, a company specializing in hospitality data. In Stockholm, the room rate jumped 119% on the pop star’s concert days, compared to the previous week and the following week. On May 18, 80% of hotels were already full.
Prices rise by 54% in Lyon
The effect on the market varies depending on the city, however, notes the study. Some are seeing prices explode, up to +154% in Warsaw or +116% in Liverpool. Others, with significant hotel capacity, are mechanically less affected, such as London (+9%) or Paris (+5%), where Taylor Swift will perform at La Défense Arena from May 9 to 12. In Lyon, the only other city visited by The Eras Tour in France on June 2 and 3, prices jumped 54%.
Likewise, the impact of concerts on room availability varies from city to city. If Stockholm is the most glaring example with up to 80% of hotels full on the dates concerned, Warsaw has 48% of establishments unavailable on August 2, at the heart of the singer’s three Polish dates. In Liverpool, on the other hand, Taylor Swift has less impact on the hotel industry than a football match. Thus for coach Jürgen Klopp’s last match on May 19, 73% of the city’s hotels are full, compared to 34% at best during concerts.
The impact of Taylor Swift’s tour, however, is much smaller on the prices of short-term rentals like AirBnb. The concerts had no effect on the prices charged in Paris in May, and caused them to inflate by barely 11% in Lyon. Only a handful of cities have seen their prices soar, such as Liverpool (+149%), Warsaw (+53%) and Dublin (+37%).
The tour of the American singer, elected personality of the year by the magazine Time, met with unprecedented success. The Eras Tour made Taylor Swift the first artist to surpass $1 billion in touring revenue, according to an estimate released in late 2023 par Pollstar , a music industry publication. And again, it was only for the first round in America. The rest of the tour in Europe and Canada should allow him to reach two billion dollars in revenue.
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