Edinburgh hoteliers are set to rake in huge profits from the legions of "Swifties" set to descend on the Scottish capital this summer, with demand and prices for rooms through the roof.
Audit tax and consulting firm RSM UK found one budget hotel in the city was increasing its nightly room rate by an average of 169% on the performance nights of June 7, 8 and 9 when compared to the week before. At the other end of the spectrum, one high-end hotel is charging an average of 122% more per night.
“Taylor Swift has enormous power to pull in audiences of all ages, and it’s clear her forthcoming Eras Tour is having a massive uplift on demand for hotel rooms in the city, bringing a huge boost to the hospitality sector," said Stuart McCallum, partner and head of consumer markets at Scotland RSM UK.
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"Taylor’s performances demonstrate that Edinburgh is ideally placed to host large high-profile events such as this, with a good mix of hotels and amenities across the city.
"With many Edinburgh hotels already fully booked, it’s likely to create a halo effect for Glasgow hotels and businesses too. Some more price-sensitive fans may opt to stay further afield and travel into Edinburgh on the train, rather than pay high room rates.”
With an average gross per show of $17.3 million (£13.6m), the Eras Tour is said to be the first in history to gross over $1 billion.
Mr McCallum noted that Taylor Swift can trace her distant roots back to the House of Dunkeld and Scottish King William the Lion, so these Edinburgh dates could at a stretch be described as a homecoming tour.
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“With numbers like these, Tay-Tay and her entourage are likely to receive a warm welcome from local businesses eager to profit from her popularity," he added.
"As Edinburgh has so much to offer visitors in terms of its rich heritage, outstanding natural beauty and vibrant night time economy, we anticipate many Swifties will stay longer to explore, bringing a significant boost to Scotland’s economy.”
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