Huge Taylor Swift impact in May 2024!

Huge Taylor Swift impact in May 2024!

Impact of Taylor Swift Concerts in Stockholm on the STR Market is interesting to look into.

Including some boasting—we can't help it since we are so proud of our colleagues' execution this week!

After a negative market development during Q1 compared to last year, market RevPAR and sold STR-nights are reaching an all-time high in Stockholm in May 2024. We are really happy to see this positive trend for all market actors.

Guestit is outperforming the market RevPAR by over +40% for the month of May and approximately 250% for peak nights during the upcoming weekend, May 17th to 19th. The average Guestit portfolio RevPAR during this week is +3300 SEK compared to the market RevPAR of approximately 1400 SEK. SEE GRAPH below where grey represents the Guestit portfolio and red represents market averages. It is clear that most market actors are drastically underestimating the demand for Taylor week. We are, of course, very proud to see that Guestit’s pricing strategy really pays off when demand is high!

One highlight for us is a 25,000 SEK/night rate for a 2BR rental on Södermalm. This is, of course, an outlier case, but one happy Guestit customer and property owner reached over 25,000 SEK per night (!) for Taylor week.

Graph where grey is Guestit portfolio and red market averages.