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Rugby, pop and rock boost forward demand
Thursday, 4th November 2021
Source : STR

STR’s Forward STAR data provides a crucial view of the future and highlights the importance of events during traditionally low performance periods.

In this latest case study, we examine Cardiff and the positive trends which can be observed in the market for the next 365 days (as of 4 October).

Throughout this analysis, Cardiff’s Principality Stadium plays a key role in attracting large crowds, in turn increasing the levels of bookings for hotels throughout the market.

Rugby returns
 
The Welsh international rugby team has a busy schedule ahead of it with four home test matches during the autumn as well as the upcoming 6 Nations tournament at the beginning of 2022, in which two of the games will be played at the Principality Stadium. With fans back in attendance, we can see clear spikes in occupancy on the books, suggesting high levels of demand from both international and domestic visitors.

With these matches being the first rugby internationals to welcome back crowds since early 2020, it is not a surprise to see such positive levels of uptake. Throughout the autumn series, we can observe levels climbing to 80% for the game versus New Zealand on 30 October as well as 63% for when South Africa’s springbok team arrive in the Welsh capital city on 6 November.
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6 Nations impact
 
Branded as “Rugby’s Greatest Championship,” the 6 Nations is a competition in which England, Scotland, Wales, Ireland, France and Italy battle against each other throughout February and March each year. Cardiff acts as the home of Welsh international rugby, and so it is to be expected that occupancy on the books spikes when both Scotland and France visit in early 2022.

One interesting observation that can be taken from STR’s Forward STAR data is that occupancy on the books for the fixture versus Scotland sits at just 27% compared with 58% for the match against France several weeks later.

Cardiff is also posting the best overall occupancy levels for the duration of the tournament in comparison with other host cities.
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Stereophonics & Ed Sheeran bring in big crowds too
 
It will be to the delight of both music lovers and hoteliers alike that stadium tours are a reality once again. As big-name acts begin returning to the stage, their devoted fans are starting to fill up local hotel rooms. Cardiff is currently benefiting from two such performances in December 2021 and May 2022.

The Welsh capital city will be welcoming home its national treasure, Stereophonics, on 17-18 December as the group plays to what is likely to be a sold-out Principality Stadium. Across these two days we see occupancy on the books reaching 67%, which significantly outperforms the rest of December. The city is also showing early uptake for Ed Sheeran’s + - = ÷ x tour with occupancy on the books sitting at 48% on 27 May. As that event date draws nearer, expect levels to rise further.

It is also worth noting that each of these stadium performances are showing significant spikes in pickup (the difference in levels from one reporting period to the next).
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Conclusion
 
As we enter into the winter months, many markets will start to experience a reduction in demand from leisure travel. As noted in a recent STR research piece, business travel also remains low. It is therefore extremely beneficial for hotels when large-scale events draw visitors into their market during the quieter seasons.  

STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com

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