Mark Hoplamazian , CEO of Hyatt Hotels Corp ., didn ’ t cop to being a Swiftie during a session alongside Hyatt CFO Joan Bottarini at the Bank of America 2024 Gaming &

Lodging Conference , but he did offer that her star alone puts boatloads of revenue in his hotels and the broader economy .

Yes , the Taylor Swift effect is real and it ’ s spectacular for travel and leisure . The cultural impact of the pop star can ’ t be overstated . Want proof ? Swift ’ s “ Eras Tour ,” which began in March 2023 and runs through early December 2024 , spanning five continents , is already the highest-grossing tour of all time . It surpassed $ 1 billion in sales

by November 2023 . Market research company QuestionPro predicted that the tour could generate as much as $ 5 billion for the U . S . economy , with concertgoers spending more than $ 1,000 per show on hotels , travel , food and merchandise . Mastercard Economic Institute reported that hotel expenditure increased by 47 %.

According to CoStar , the first 28 shows of her tour added $ 98.2 million in added room revenue on top of normal seasonal levels to U . S . hotels .

Three months later , the number ballooned to an overall $ 208 million estimated impact over 53 concert nights , a number STR called “ conservative ,” because it only accounts for paid room nights and not ancillary revenue , such as parking and F & B .

The Eras Tour ends in 2024 , but not before major stops across the U . S . and Canada , including Miami and New Orleans , where occupancies will get a significant boost .

It ’ s not lost on Hoplamazian

20 hotelsmag . com Oct / Nov 2024