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Taylor Swift and the Short-Term Accommodation Economy

By February 20, 2024 No Comments
Taylor Swift and the Short-Term Accommodation Economy

Taylor Swift’s sold-out concerts meant nine out of 10 traditional hotel rooms and ALL Air Design Melbourne short-term accommodation properties were booked over the weekend as visitors came from across Victoria, interstate and overseas, including a large contingent from New Zealand.

As the Swifty movement heads toward Sydney for this weekend’s shows, the trail of “(monetary) injection directly into the Australian economy as a whole, is at least $558 million,” says Angel Zhong, RMIT Finance Professor.

Without short-term accommodation options, hundreds of Swifty’s would be left without accommodation options as hotels alone would struggle to house so many visitors at once.

Short-term accommodation occupancies are at unparalleled levels over the concert periods, and Air Design Australia has seen a surge in bookings and revenue.  This was not just for the concert locations of Sydney and Melbourne. Regional demand is also high as Swifties take the opportunity to travel further afield as they make the most of their time in each state.

“The extensive media coverage and publicity surrounding Swift’s concerts in Australia can enhance the country’s global visibility as a tourist destination. This increased exposure can attract not only concert-goers but also other travellers interested in exploring Australia’s diverse offerings,” says Zhong.

As the impact of further tourism to our Australian shores is set to elevate further, demand for short-term accommodation is increasing.  Have you considered how much your home, investment property or development would be worth on the short-term rental market?

Get in touch with Air Design today to find out more.

 

 

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