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Is Taylor Swift saving the economy?

  • 1.  Is Taylor Swift saving the economy?

    Posted 07-03-2023 08:46
    Edited by Tanvi Kakodkar 07-03-2023 09:54

    Happy Monday! We hope you are ready for our next Huddle of the Week!

    Popular singer and songwriter Taylor Swift's wildly popular concert 'The Eras Tour' is set to disrupt the hospitality industry as some hotels doubled their prices during her tour dates. The influx of visitors for the tour is accompanied by a steep spike in demand for accommodation in the respective cities across the US and Europe.

    The Eras Tour is a tribute to all of Taylor's studio albums and delivers great joy, happiness, and experience to all her fans who fly from all over the country to attend her concert. The weekend she performed in Chicago alone had 97% occupancy rates and over 44,000 room bookings.

    Questions for you:

    • How can you as a hospitality industry expert capitalize on this concert-driven booking demand? What are some best practices you follow and practices you avoid?

    • As an event professional, what are your best practices to avoid other large events that are happening in the same area when planning your own events? 

    #HuddleoftheWeek 

    #VoiceIt 
    #ManagingRoomBlocks
    #SourcingaVenue

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    Tanvi Kakodkar
    Customer Marketing at Cvent
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  • 2.  RE: Is Taylor Swift saving the economy?

    Posted 07-04-2023 12:42

    We have two events in Monterey CA every year in August during what is called Car Week.

    Hotel rates have always been high. Since covid, they are crazy high where only the very wealthy can afford it limiting our attendance to locals only. Lodging fees will kill our events there.



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    Steven Schlossman
    Jack of all trades. Master of none.
    BMW Car Club of America
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  • 3.  RE: Is Taylor Swift saving the economy?

    Posted 07-05-2023 12:35

    Questions for you:

    • How can you as a hospitality industry expert capitalize on this concert-driven booking demand? What are some best practices you follow and practices you avoid? -

      This one isn't really relevant to us, since our events are for our members.

    • As an event professional, what are your best practices to avoid other large events that are happening in the same area when planning your own events?  -

      This one is hard, we try to be aware of big events happening at the same time as our stuff, but it's not always easy - we have an event scheduled in San Diego for a few days before ComicCon, and it's made it difficult to get the space we need because of others capitalizing on the event and scheduling theirs a few days before it. If we had realized that before setting our dates, it would have helped. Our event's dates were flexible, but we didn't realize the potential for conflict until it was to late and our date shad been locked in. 


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    Elena PEREZ
    Communications Coordinator
    SEIU - UHWUnited States
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  • 4.  RE: Is Taylor Swift saving the economy?

    Posted 07-05-2023 13:41

    We offer packages that concert goers see value in while it helps us create higher ADR's 



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    Dan Sadler
    Senior Sales Manager
    Margaritaville Hotel San Diego Gaslamp QuarterUnited States
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  • 5.  RE: Is Taylor Swift saving the economy?

    Posted 07-05-2023 16:23

    Best to check the calendars for events and your desired venue as early as possible. Get that hotel contract locked in so that concert goer demand hiking up nightly rates won't affect your guests.  As some have said below, I agree that offering packages that include registration and a concert ticket could be beneficial. 



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    Rachel Mattke
    Event Technology Specialist
    Direct TravelUnited States
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  • 6.  RE: Is Taylor Swift saving the economy?

    Posted 07-06-2023 10:15
    • As an event professional, what are your best practices to avoid other large events that are happening in the same area when planning your own events? We like to check with our vendors at the hotel as well as local DMC's and if there's a tourism agency to understand anything big taking place in the location we're planning that we need to be cognizant of. We only have one event a year that it'd be a problem for and luckily we've not had a ton of issue in the past.


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      Rachel
      NJ
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    • 7.  RE: Is Taylor Swift saving the economy?

      Posted 07-06-2023 16:49

      Having an overlapping huge city-wide event typically created a lot of headaches in my experience. I think it's important to work with local CVBs, try to have flexibility in our dates, listen to our hotel partners, and negotiate reasonably without pushing too much. 

      I'd hate to have our guests get walked out due to overbooking. But in case this happens, having a consensus on what to do with our stakeholders and knowing what other hotels in the area may be available can help ease the headaches slightly...



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      Etsuko Aoyama
      Manager of events marketing
      Geodesic Capital
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    • 8.  RE: Is Taylor Swift saving the economy?

      Posted 07-07-2023 09:42

      How can you as a hospitality industry expert capitalize on this concert-driven booking demand? What are some best practices you follow and practices you avoid?

      This does not apply to my work per say since we do mostly internal events but if I was to do an external event I would advertise during busy times in the area.

      As an event professional, what are your best practices to avoid other large events that are happening in the same area when planning your own events? 

      We work closely with the local tourism groups to ensure there are no big events schedule for the time periods that my team would like to host an event.



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      Meghan Payne
      Travel and Events Coordinator
      Corning Incorporated
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    • 9.  RE: Is Taylor Swift saving the economy?

      Posted 07-07-2023 14:35
      • How can you as a hospitality industry expert capitalize on this concert-driven booking demand? What are some best practices you follow and practices you avoid?
        • Our events are not concert-driven however if we were in this scenario, I would continuously monitor competitor rates and remain flexible.
      • As an event professional, what are your best practices to avoid other large events that are happening in the same area when planning your own events? 
        • We consult with the local tourism bureaus to ensure our events do not conflict with popular or large-scale events in the area.  


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      Leslie Daloia
      Events Specialist
      Corning IncorporatedUnited States
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    • 10.  RE: Is Taylor Swift saving the economy?

      Posted 07-10-2023 15:18
      • How can you as a hospitality industry expert capitalize on this concert-driven booking demand? What are some best practices you follow and practices you avoid?
        • This one doesn't really apply to my company, as our events are mainly training sessions that are restricted to our end users or sales partners, so we're not capitalizing on any other event happening in the area.
      • As an event professional, what are your best practices to avoid other large events that are happening in the same area when planning your own events? 
        • Our training events that happen in major cities across the country are small enough that they're usually not impacted by other events in town (8-20 people per event).  Once per year we host a large conference in the town where our headquarters is located.  We confer directly with other major companies in the area to make sure that we are not overlapping events.  We also tend to hear about other events happening around ours when we call transportation companies to soft-reserve busses and such for our intended dates.  We also tend to schedule around major sporting events in our town, whose dates are announced decently far ahead of time.


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      Jess Olcott
      Training Program Coordinator
      ETC, Inc.
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    • 11.  RE: Is Taylor Swift saving the economy?

      Posted 07-10-2023 16:37
      • How can you as a hospitality industry expert capitalize on this concert-driven booking demand? What are some best practices you follow and practices you avoid? I try to advise clients looking to book particular locations what is scheduled to be going on in the city at the time.  While I can't look up every single concert, I can check with the arenas and stadiums to see what may impact occupancy (and thereby rates).

      • As an event professional, what are your best practices to avoid other large events that are happening in the same area when planning your own events?   I always look at what may be moving in or out and any city-wide events that could be taking place as well.  For larger hotels and venues, I always ask how we will be separated from other groups (different floors, different buildings, etc.) as I detest having to police beverage stations and snack tables and like knowing my people aren't lost in a crowd.


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      Julie-Michelle Davis, CMP
      Meetings Manager
      Amex GBT - USA
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    • 12.  RE: Is Taylor Swift saving the economy?

      Posted 07-12-2023 17:24
      • How can you as a hospitality industry expert capitalize on this concert-driven booking demand? What are some best practices you follow and practices you avoid?  Tampa hosted a 3 day concerts in April 2023, all three days the market sold out with very high ADRs.  The best tip for a hotel is to ensure we are communicating to clients looking to host event over concert dates and seek potential alternative dates. 


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      Colleen Beck
      Director of Sales & Marketing
      The Westin Tampa Bay
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    • 13.  RE: Is Taylor Swift saving the economy?

      Posted 07-14-2023 09:18
      • As an event professional, what are your best practices to avoid other large events that are happening in the same area when planning your own events? 

      Ask the venues what dates to stay away from!



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      Lori Wildman
      Marketing Director
      DuCharme, McMillen & Associates, Inc.United States
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    • 14.  RE: Is Taylor Swift saving the economy?

      Posted 07-14-2023 11:31
      • How can you as a hospitality industry expert capitalize on this concert-driven booking demand? What are some best practices you follow and practices you avoid?  As we are a university it does not affect us much...but our arts centers often try to piggy back off of large university events (homecoming etc).

      • As an event professional, what are your best practices to avoid other large events that are happening in the same area when planning your own events?  I always do my research. I look at other large conferences on similar topics when planning conferences, if its' a smaller event I look at conflicts within our unit, and when it's something like a Gala I will sometimes do a poll of those we "most" want to attend. Since I work for a large diverse university I also work to avoid religious holidays and large DC driven festivals (Pride, Cherry Blossom, Inauguration etc).


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      Lesley Irminger
      Events Manager, College of Public Health
      George Mason - Office Of University EventsUnited States
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    • 15.  RE: Is Taylor Swift saving the economy?

      Posted 07-19-2023 13:40
      • How can you as a hospitality industry expert capitalize on this concert-driven booking demand? What are some best practices you follow and practices you avoid? Our meetings tend to be in more remote areas, which are also somewhat affected - but we try to stay out of downtown metro areas.

      • As an event professional, what are your best practices to avoid other large events that are happening in the same area when planning your own events? We try and book our hotels very far in advance to get the best pricing. 



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      Beth Vriesen.
      Events Registration Administrator
      Associated Bank Corporation
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    • 16.  RE: Is Taylor Swift saving the economy?

      Posted 07-20-2023 11:19

      Strong negotiations with hotels...can you shift room revenue to f&B revenue, meeting space rental, etc.



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      Jennifer Montesano.
      Director, Strategic Communications & Marketing
      General Dynamics Mission SystemsUnited States
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    • 17.  RE: Is Taylor Swift saving the economy?

      Posted 07-24-2023 07:14

      Best to check event calendar and contact hotel/venue prior considering potential conflict on the overbookings & plan for uncertainty alternative dates.



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      Vijayathivakaran Mathialagan
      Web Analyst
      AstraZenecaIndia
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