Miami startup Foothold.co has launched a real estate crowdfunding platform for investing in luxury vacation rentals.
25.10.2023 - 18:41 / skift.com / Taylor Swift / Srividya Kalyanaraman / Jeff Breece
Taylor Swift’s Eras Tour made headlines even before it began — by overwhelming booking platform Ticketmaster and drawing attention even from the U.S. Senate.
The money and impact on travel was a big story too: Ticket sales alone were expected to generate $590 million within the U.S. In Chicago, hotels had a 97% occupancy with over 44,000 rooms occupied. Some studies found that demand for workers in the vicinity of a stadium can reach close to 10 times normal levels.
But what did Taylor Swift’s tour do for short-term rentals in the U.S.? We dug through data from Beyond Pricing, KeyData and AirDNA.
“High level, when the STR industry has revenue falling, Taylor is literally a windfall almost everywhere she goes. Entire cities see double-digit increases in occupancy and ADRs, with the mid-tier cities like Pittsburgh, PA, benefiting the most,” said Jeff Breece, director of revenue management at Beyond Pricing.
Beyond found that the top performing markets in terms of occupancy were: Kansas City, MO, Philadelphia, PA and Pittsburgh, PA. And the ones that did well in terms of daily rates were: Pittsburgh, PA, Chicago, IL and Tampa, FL.
KeyData estimated that the Taylor Swift Eras Tour contributed $10 million to the short-term rental industry.
The 20 cities that hosted the Eras tour saw revenue per available room go up by 28% and occupancies by 12%.
According to data from AirDNA, the total revenue impact from Taylor Swift was $27.3 million in the United States. Los Angeles ($6.5 million), Nashville ($3.8 million), and Phoenix ($2.7 million) saw the most significant revenue lifts, driven in large part by greater demand for short-term rental stays but also by higher average daily rates (ADRs). The most subtle revenue impacts were seen in San Jose-Santa Clara ($160,000) and Jersey City-Newark ($189,000).
Swift’s fandom is large enough that hosts in most cities didn’t need to raise prices. There was enough demand to go around filling rooms.
Miami startup Foothold.co has launched a real estate crowdfunding platform for investing in luxury vacation rentals.
Acqualina Resort & Residences is my favorite hotel in Miami for the perfect family vacation. My two children love staying there and always beg to go back.
Taylor Swift kicked off her South American tour with three sellout crowds at Buenos Aires’ Monumental Stadium, the home venue of Club Atlético River Plate and the Argentinian national soccer teams.
LATAM Airlines, South America's largest carrier, is bending the rules for Taylor Swift fans after the star postponed her Friday night show in Buenos Aires.
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Higher-tier Marriott Bonvoy elite members have long had access to Suite Night Awards as part of the program's annual choice benefits. Platinum members could choose five SNAs when they reached 50 elite qualifying nights in a calendar year, and Titanium members could opt to receive another five at 75 nights.
Seldom has a performer stirred the emotions of a frenzied fan base as much as global superstar Taylor Swift. As one of music’s most loved and most decorated artists, she’s garnered countless accolades for her songwriting and singing, including Grammy Awards, Brit Awards, Country Music Association Awards, MTV Music Awards and even an Emmy. Swift also holds several Guinness World Records and was named Woman of the Decade by Billboard for the 2010s. Her hit singles include “Love Song,” “Shake It Off,” “You Belong With Me” and "Blank Space."
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United Airlines is tweaking its long-haul network with two notable changes.