Taylor Swift’s concerts in Singapore led to record hotel ADR and RevPAR in March, with significant occupancy and rate increases.
The host of six Taylor Swift concerts, Singapore’s hotel industry posted its highest March average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary data from CoStar.
March 2024 (year-over-year % change):
- Occupancy: 79.1% (+5.1%)
- Average daily rate (ADR): SGD358.91 (+12.7%)
- Revenue per available room (RevPAR): SGD284.03 (+18.5%)
Historically, Q1 and Q2 daily occupancy levels are lower post-Chinese New Year and prior to events picking up in Q3. The Eras Tour gave a much-needed boost to Singapore hotel occupancy, with the highest daily levels seen during the six concert dates (2-4 and 7-9 March). Saturday, 2 March, and Sunday, 3 March, led with occupancy at 92.7% and 92.5%, respectively.
Overall, the market’s daily occupancy levels came in above the 70% mark in all but three days.
Swift’s performances also pushed ADR levels as high as SGD438.36 on Saturday, 2 March.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
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