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Live events drive more bookings and boost hotel profits, but to foster long-term loyalty, hotels must prioritise creating unforgettable guest experiences. Live events – whether a concert, sports tournament, or major cultural festival – are game-changers for the hospitality industry and local economies.
CoStar reports occupancy levels of 78.8% Following the markets seasonal pattern, New Years Eve pushed Sydneys daily ADR (AUD854.38) and RevPAR (AUD807.62) to record highs, while occupancy was 94.5% the highest level in the metric in December, CoStar said. for December 2024, up 2.1% and AUD482.35, respectively.
Throughout the event, which ran from May 24 through to June 15, occupancy rates stayed strong despite unfavourable weather conditions, with hotels reporting 75% occupancy on weeknights and up to 90% on weekends. The post Hotels enjoy strong occupancy levels in Vivid Sydney’s 14th year appeared first on Hotel Management.
The New South Wales government has vowed to increase support for tourism, nightlife and major events in the state budget, announced on Tuesday, marking a positive outcome for the hotel sector, according to Accommodation Australia NSW General Manager, Stacey McBride. Any investment in events is an investment in the visitor economy.”
Skift Take: Increased occupancy rates for cities hosting campaign stops in advance of the 2024 U.S. This unexpected trend invites further examination into how hotels and agencies can analyze data to set up smart, dynamic pricing strategies for one-time events. Onyx CenterSource Read the Complete Story On Skift
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