Taylor Swift's Eras Tour heightened Europe performance levels amid popular tourist season

Analysis by Claudia Alvarado Cruz and Chris Klauda

Taylor Swift’s Eras Tour took Europe by storm this summer, with 47 concerts across 17 cities over a 15-week period from May to August. Swift played consecutive three-day concerts in most cities, which were primarily over a weekend, not saying “so long, London” until she returned for a second run in the city. 

While the concerts were the main driver of hotel performance across each host market, hotels benefited from extended fan stays, housing of Taylor Swift’s tour crew (including those that arrived early and stayed late to break down the stage), and additional revenue streams such as food & beverage, parking, etc. 

NOTE: The following analysis compares hotel average daily rate (ADR), in local currency, and occupancy for the concert days to the matched days in 2023. Occupancy comparisons are included for the two weeks prior to and following the concerts days to provide perspective given the high level of occupancy experienced in Europe during a “normal” summer. Three-day weekends refer to Friday, Saturday and Sunday.

Performance impact across host markets

The impact of Taylor Swift’s concerts on a market varied depending on hotel supply, the month and day of week the concert took place, and the impact of other events occurring near or at the same time. 

Taylor Swift’s tour was not the only event taking the continent by storm. Europe had a busy summer as host to the UEFA Euro 2024 matches from mid-June through mid-July, the Summer Olympics at the end of July and into August, and numerous other events. 

With the ease of travel from city to city and the favorable exchange rate for some international visitors, it is possible attendees at other events decided to travel for an Eras show. 

Across all markets, ADR was the primary beneficiary for cities hosting concerts, rising an average of 51% (local currency) when compared to the matched days the previous year. The average occupancy lift was ten percentage points (ppts), however, smaller markets tended to see greater occupancy gains and larger markets often saw smaller gains. Sundays showed the lowest actual occupancy levels, which is not surprising as that day of week is historically the lower occupancy day. Despite the lower levels, however, Sundays realized the greatest year-over-year increases in the metric. 

Germany experienced record performance across seven concert days while also hosting numerous other events which lifted hotels throughout the country all summer.

• Gelsenkirchen (in the Ruhr market) posted the highest year-over-year (YoY) occupancy increase of all 17 host markets, up 39 ppts to 83% over the three concerts days (Wednesday – Friday) in July. Occupancy during this time of year is typically closer to 60%, however, the market experienced large increases with occupancy as high as 94% and as low as 33% during the weeks before and after the concert due to sports, fairs and other events. The average ADR gain (+59%) was also strong and ranked in the top ten across all markets. 
• Hamburg was the second Germany stop and produced an ADR lift (+52%) on par with the market average. Hamburg was one of three markets with Tuesday-Wednesday concerts days. Occupancy (+11 ppts to 96%) was tied for the highest level of the tour. The other two markets (Cardiff and Zurich) posting an occupancy high of 96% were also Tuesday and/or Wednesday only concerts.    
• Munich was the final tour stop in Germany and produced third highest occupancy gain (+17ppts) across all 17 markets over the two concert days (Saturday and Sunday) at the end of July resulting in an occupancy level of 89%. Summer is peak season in Munich with occupancy in the market ranging from 63% to 92%. ADR grew 68% and was the fourth highest of all markets. 

In the United Kingdom, London and three smaller markets hosted fifteen concerts. London was the only market that hosted concerts at two separate times (June and August). 

• Liverpool, as the second smallest market hosting concerts during the European tour, experienced the third greatest ADR increase (+89%) and posted occupancy gains (+11 ppts) over a three-day weekend in June, which was on par with the average across all markets. Occupancy of 91% was the highest across the four weeks spanning the concert days, which averaged 78%. The lowest occupancy (52%) was on the Sunday following the concert.
• Edinburgh hosted the tour over a three-day weekend in June, which produced the second highest ADR lift (+92%) while the occupancy gain was low compared to the other markets, up just six ppts. Actual occupancy reached 92%, with occupancy levels above 85% over the four weeks surrounding the concert.
• Cardiff was the smallest host market, and one of two markets, the other being Marid, hosting just one concert. Year-over-year comparisons for Cardiff were softened considerably because on the same day in 2023, Harry Styles performed in Cardiff. Occupancy during the concert day increased one ppt YoY to 96%, while ADR increased 36%. Occupancy in Cardiff averaged 80% during the weeks before and after the concert.
• London was the only market to host two separate concert periods, the first being over a three-day weekend in June and the second for five days in August (Thursday – Saturday and Monday – Tuesday). Hotel performance over the August tour days was the strongest of the two London stops. June occupancy during the concert days (87%) was flat YoY compared to August, which posted an occupancy of 91% (+10 ppts YoY). June ADR increased 6% while August ADR increased 18%. London is the largest market in terms of room supply. The impact in August is notable because it is not often that one event can have an impact of this magnitude in a market of this size. Several factors added to this impact, including London being the last stop of the European leg and August tending to be a slower month.

France was the first stop on the 2024 Eras European leg, hosting six concerts across two markets.

• Nanterre was the first stop – the venue is northwest of Paris and located in the Ile-de-France market, which surrounds the Paris market. Both markets benefited from concert goers. Occupancy increased 18 ppts and 14 ppts in Ile-de-France and Paris, respectively, during the four-day (Thursday – Sunday) concert in June. ADR improved equally, up 18% in Ile-de-France and 17% Paris.
• The Auvergne-Rhone-Alpes market, in which Lyon is the main city, is one of the larger markets outside of Paris and London that hosted the shows. It is notable, given its size, that the market recorded one of the greatest YoY occupancy lifts (+13ppts) during the two concert days in early July (+23 ppts on Sunday) and Monday (+4 ppts on Monday).  ADR increased 50% YoY, + 72% on Sunday and + 37% on Monday. 

Southern Europe, which has had record occupancy all year, hosted five concerts across three markets.

• Lisbon hosted the tour over two days (Friday and Saturday) in June, posting strong year-over-year ADR (+14%) and occupancy (+8ppts) lifts, though those remained below the average across all the markets. Summer is peak season in Lisbon and the summer of 2024 was no exception, with occupancy averaging 83% for the four weeks surrounding the concert days. Occupancy on concert days was 94%. 
• Madrid hosted just one concert which took place on the last Thursday in June. ADR increased 57% YoY and occupancy rose 9ppts to 91%. Madrid has been a popular destination in 2024, with average occupancy for the four weeks about the concert day of 85%. 
• Milan’s two-day concert stop (Saturday-Sunday) in July produced occupancy of 82% (87% on Saturday and 78% on Sunday), up 10 ppts YoY, while ADR increased 57%.

Five markets across the rest of Europe hosted 14 concerts, with Warsaw experiencing the greatest ADR lift across all 17 markets.

• Warsaw hotels saw the greatest ADR lift of all 17 markets and an occupancy boost that was double the average across the concert markets. Concert day occupancy (90%) was the highest of the four-week period which ranged from 60-90%. Warsaw has typically delivered strong performance during concerts as evidenced by robust ADR and occupancy during other concerts, such as Beyonce’s Renaissance Tour, which took place in the market in June 2023.
• Dublin, which hosted the tour over a three-day weekend in June, posted a 31% lift in ADR and an occupancy of 92%, up one ppt compared to last year. While the YoY change was below the total market average, this strong performance occurred during the height of Ireland’s tourist season. Occupancy over the four weeks before and after the concert averaged 89%.   
• Stockholm is the largest host market in terms of hotel rooms outside of London and Paris. Concert performances took place over a three-day weekend in May, with occupancy increasing 15 ppts and ADR rising 11% compared to the same days last year. 
• Amsterdam hosted the concert over three days (Thursday – Saturday) in early July. Occupancy increased 11 ppts, just above the market average to 92%, and ADR rose 42% when compared to the same days last year. As seen with much of Europe, the summer season was popular with occupancy over the four-week period hovering close to 86%.
• The Zurich market tied for the highest occupancy (96%) over the two concert days (Tuesday – Wednesday) in July, up 10ppts YoY. ADR grew 65%, which gave Zurich a spot in the top five markets for ADR increases. Average occupancy over the four-week period was a healthy 87%.
• Vienna was scheduled to host concerts between 8-10 August, which were ultimately canceled on 7 August. Hotels in the Vienna over the three scheduled concert days posted occupancy of 81% which was 3 percentage points below the same days last year. ADR remained elevated, increasing 87% YoY.

Looking ahead

The Eras Tour will end in 2024, but not before it stops in major destinations across the U.S. and Canada. Swift's first stop will be in Miami, with occupancy on the books as high as 53.3% on Friday, 18 October. Her next stop, New Orleans, shows booking levels at 69.6% for Friday, 25 October and 73.2% for Saturday, 26 October. Indianapolis is also showing booking levels as high as 61.7% on 2 November. Looking towards Canada, Swift will perform for six nights in Toronto in late November, with the current occupancy on the books reaching as high as 50% on 15 November.