With the UEFA EURO 2024 championship underway, Paris 2024 Olympic Games around the corner and Taylor Swift opened in London the latest leg of her Eras tour, new data released by SilverDoor, leading serviced apartment agent, highlights that sporting events are impacting ADRs. However, Taylor is having less of an impact on rate rises, which is good news for travel and events managers keen to extend cultural events within their itineraries and programmes.
Taylor Swift tour ADR data and dates
According to SilverDoor ADR data for London indicates rates for Swift’s tour dates this weekend have risen by just 2% compared to the previous weekend. While this is 8% higher than the same dates in May, it is in line with the expected summer seasonal ADR increase.
Looking further afield, there were also marginal increases when Swift arrived in Tokyo, Sydney, Edinburgh and several US cities. The latest SilverDoor rate data shows overall stability in ADR when she is in town.
Singapore ADR also held steady, increasing by around 10 SGD per night. This is despite efforts by the Singapore government to increasingly make surcharges mandatory during major events in a bid to boost the revenue generated by an influx of international visitors.
The sporting effect
In contrast, serviced apartment rates across Germany and Paris are set to see a marked rise as the UEFA EURO 2024 championship and Paris 2024 Olympic Games begin and the summer of sport kicks off.
ADR across Germany is predicted to see an increase of 14% YOY compared to June 2023
Berlin which plays host to a number of matches throughout the tournament, including the final, is expected to rise by over a third to £167.85 – a 34% rise
Dortmund, the city with the least tourism pre-tournament, is predicted to see ADR increase by 23% to £85.71
As all eyes then turn to Paris for the Paris 2024 Olympic Games which start on 26 July, ADR has also seen a significant rise as prices for serviced apartments have increased by 30-70%, compared to hotel rooms which have increased by as much as 200%.
Commenting on the ADR trends and offering advice to travel and events managers on how best to manage accommodation rates during peak event periods Chris Lyon, Head of Client Services, SilverDoor said, “Navigating business travel and MICE programmes during major events requires strategic planning, flexibility and local knowledge. As much as possible plan ahead to secure the best rates and accommodation as early as possible, particularly if managing accommodation for a large group. Be sure to negotiate a group discount and secure the best choice of accommodation available, especially if additional requirements such as disabled access for example, are needed.
“Likewise, take the time to understand the cancellation and surcharge policies. Negotiating on surcharge waivers are more feasible for longer stays of more than two months or if a client has large booking volumes into a particular destination. Where this isn’t possible, all events-based surcharges are noted on quotes so bookers can make informed decisions, but minimise costs by avoiding dates and destinations that are impacted by surcharges for recurring events.
“This is vital if you are booking far ahead – so that any changes in plans can be managed efficiently and not subject to any further costs that will impact budget and policy compliance.”
“Access to local knowledge is also vital. The Paris 2024 Olympics will see security zones established around each venue. Access will be restricted to individuals with a special QR code, issued to ticketholders or residents of the designated areas. Unless clients are attending a specific event, it’s strongly recommended to steer clear of these zones and understand what the alternative options for travel and accommodation are. For all major events, both sporting and music concerts, inevitably there is the challenge of congestion, so bear in mind that whilst accommodation further afield might take longer to get to and from, rates are not only likely to be lower but more accessible for all travellers and delegates.”
The article Accommodation ADR seeing fluctuations for sport but Taylor not having a swift effect, says SilverDoor first appeared in TravelDailyNews International.