76793

A new analysis from Sydney-headquartered SiteMinder, a world leading open hotel commerce platform, has revealed Coldplayers are driving a 125% surge in Sydney hotel bookings ahead of upcoming shows (compared to the same period last year).

As Sydney prepares to host Coldplay’s much anticipated ‘Music of the Spheres Tour’ concerts between 6th-10th November, local hotels are experiencing a spike in bookings for that period.

SiteMinder’s data shows Australians are eager to experience the tour’s high-energy performances and visually stunning shows as the popular band returns to Australia after playing an exclusive show in Perth last year.

Coldplay’s ‘Music of the Spheres Tour’ recently made history as the highest-grossing rock tour ever, becoming the first rock tour - and only the second tour after Taylor Swift’s ‘The Eras Tour’- to surpass $1 billion in revenue.

The spike in demand from Coldplay fans has boosted the average daily rate (ADR) at local hotels across the band’s performance dates. This year, the ADR has jumped by 30% year-on-year, rising from $369.82 to $481.20 as hotels in Sydney capitalise on this opportune time to drive critical revenue. The increase in room rates reflects the premium placed on accommodation during this high-demand period.

In order to secure their preferred accommodation, SiteMinder’s data reveals that hotel guests have booked further in advance. On average, guests booked their stays 192.5 days in advance, a 33.47% increase from last year’s 144.2 days. This extended lead time suggests many guests booked their accommodation only a few months after purchasing their tickets last November.

Despite the sharp rise in bookings, the average length of stay across the band’s performance dates will decrease by14.91% year-on-year, from 1.98 days in 2023 to 1.69 days this year. This trend suggests that the spike in bookings has primarily been fuelled by concertgoers choosing shorter stays focused around the event.

Bradley Haines, Regional Vice President of Asia Pacific at SiteMinder noted “the demand for accommodation, as a result of Coldplay’s sold-out shows, is only the latest example of a trend that SiteMinder is witnessing around the world. The strong return of events and, in particular, record-setting concerts, is offering a boost to the global hotel industry and to local economies.

“It’s clear that fans are not only happy to travel for their favourite bands; they are also planning well ahead and willing to spend a premium for the experience. Hotels would do well to further capitalise on these opportunities by enhancing those experiences with custom packages that unlock additional revenue, such as happy hour at their onsite bar or partnerships with nearby restaurants.”

More information on SiteMinder

Related Articles

20th August 2024 - Coldplay, WWE, FIFA deliver $105 million into the Western Australian economy

8th July 2024 - Western Australia Government paid $8 million subsidy to Live Nation Entertainment for 2023 Coldplay concerts

12th January 2024 - Coldplay advise of environmental initiatives employed on current world tour

1st December 2023 - Coldplay adds more Australasian concerts as they smash ticket sales records

15th May 2023 - Coldplay reveals Asian tour dates and second Optus Stadium concert as Western Australian Government issues ticket scalping warning

10th May 2023 - Tourism coup for Western Australia with Coldplay to play one-off concert at Perth’s Optus Stadium

21st September 2024 - SiteMinder makes dynamic demand-based pricing accessible to all hotels

30th April 2024 - SiteMinder strengthens partnership with online Trip site to cater for rebounding Chinese tourism

15th March 2024 - SiteMinder launches on mobile offering hospitality sector new era of dynamic revenue management

31st January 2024 - SiteMinder reveals latest trends in hotel bookings

10th November 2023 - Capstone Hotel Management marks 10 years of growth and looks to expand with SiteMinder

26th September 2023 - SiteMinder report shows Australians plan to continue travelling despite rise in cost of living

15th February 2023 - SiteMinder analysis reveals guests booking Australian hotels 23% earlier

6th April 2022 - SiteMinder unveils next generation platform to make hotel technology universal

12th January 2022 - SiteMinder secures top awards at 2022 HotelTechAwards

30th September 2021 - SiteMInder research reveals a new type of traveller has emerged through COVID pandemic

---

Support our industry news service
We hope that you value the news that we publish so while you're here can we ask for your support?

As an independent publisher, we need reader support for our industry news gathering so ask that - if you don't already do so - you back us by subscribing to the printed Australasian Leisure Management magazine and/or our online news.

Click here to view our subscription options.