Auckland hotel booking levels topping 80% for upcoming Coldplay concerts

WASHINGTON – 9 October 2024 – Auckland hotel booking levels are as high as 84% for Coldplay’s ‘Music of the Spheres’ World Tour next month, according to data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. 

Over the course of October and November, Coldplay is set to perform 11 times across three markets in the region: Melbourne, Sydney, and Auckland. 

As of 30 September, Auckland was showing the highest levels in occupancy on the books, peaking at 84.1% for Friday, 15 November. That represents a 33.9% increase from the same time last year. The second highest occupancy on the books (79.1%, +25.5% year over year) falls on the following night. 

“Coldplay’s visit couldn’t come at a better time as Auckland has struggled with occupancy for a couple months now,” said Matthew Burke, regional director for the Pacific region at STR. “With the tour already pushing the market’s daily occupancy over the 80% mark, this will be the first time Auckland will see levels this high since July.”

Both Sydney’s and Melbourne’s highest occupancy on the books are on Saturdays – 9 November (55.3%) and 2 November (54.5%), respectively. When compared to the same time last year, booking levels were at 45.6% in Sydney and 50.3% in Melbourne. 

“Perth saw a huge spike in hotel performance for Coldplay’s visit in November 2023, and we anticipate the same booking levels across Sydney and Melbourne,” Burke said. “Due to November being a traditionally busy month for Australian tourism, we can expect to see the tour’s impact reflected significantly on room rates rather than occupancy.”

Looking at 2025, the band is set to continue their tour in January, starting with Abu Dhabi and Mumbai.

For more information about the company and its products and services, please visit www.costargroup.com. 

Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 85,000 properties and 11 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.

News Media Contact
Haley Luther
Senior Communications Manager – STR 
(216) 278-0627
hluther@str.com 

ABOUT COSTAR GROUP, INC.
CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with over twelve million monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France’s leading commercial real estate news service. Thomas Daily is Germany’s largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group’s websites attracted over 183 million monthly average unique visitors in the second quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations or beliefs regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences: the risk that regional Australian occupancy rate and room rate expectations based on historical data do not align with forecasted trends resulting in incorrect expectations for occupancy rates and/or occupancy rates. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar’s filings from time to time with the Securities and Exchange Commission, including in CoStar’s Annual Report on Form 10-K for the year ended December 31, 2023 and Forms 10-Q for the quarterly periods ended March 31, 2024, June 30, 2024, and September 30, 2023, each of which is filed with the SEC, including in the “Risk Factors” section of those filings, as well as CoStar’s other filings with the SEC available at the SEC’s website (www.sec.gov). All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.