Beyoncé Renaissance Tour boosted Houston hotels, hospitality sector
HOUSTON - Beyoncé's two-night Renaissance World Tour visit to Houston on Sept. 23 and 24, 2023, provided a significant boost to local travel and hospitality.
During the two nights of the tour, the overall hotel occupancy rate in Houston reached 67.5%. Weekend revenues surged to $18.2 million, an increase of more than 45% compared to the same weekend in 2022.
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Hotels in the Medical Center/NRG submarket achieved an impressive occupancy rate of 81.3% over the two tour nights, with Saturday occupancy leading Sunday by 10 percent points. The submarket's revenues reached $2.5 million, marking 182 percent growth compared to the corresponding weekend in 2022.
HOUSTON, TEXAS - SEPTEMBER 24: (Editorial Use Only) (Exclusive Coverage) Beyoncé performs onstage during the "RENAISSANCE WORLD TOUR" at NRG Stadium on September 24, 2023 in Houston, Texas. (Photo by Kevin Mazur/WireImage for Parkwood)
Notably, the submarket saw an average daily rate of $241 on Saturday, ranking as one of the highest nightly rates for the year.
Houston First analyzed location data and found that more than 52% of NRG Park visitors during the weekend came from areas outside of Houston and more than 66% of out-of-town visitors opted to stay overnight.
The data provided by Near, a location-based intelligence platform, indicated that out-of-town concertgoers primarily hailed from San Antonio, Dallas, Austin, and Beaumont.