by Diogo Canteras - Founding Partner, HotelInvest

Cities that blend business and leisure tourism hold immense potential for the hospitality industry. Rio de Janeiro exemplifies this synergy through its leisure events, such as Rock in Rio and Carnival, combined with business tourism. This balance attracts visitors year-round, allowing hotel occupancy rates to remain consistently high. The "bleisure" trend, where travelers combine business with leisure, further contributes to the industry’s growth, as professionals extend their stays to explore the city’s attractions.

Events like Rock in Rio and Taylor Swift’s Eras Tour provided significant boosts to the hospitality sector, highlighting the power of large-scale events in driving both tourism and economic growth.

The Eras Tour, a global phenomenon, generated approximately $5 billion across various cities worldwide. In destinations such as Sydney and Melbourne, the tour led to record-high hotel occupancy rates, boosting not only hospitality but also sectors like transportation, food services, and entertainment. Taylor Swift’s tour illustrates the economic impact that large-scale entertainment events can have, especially in periods of economic recovery.

During Rock in Rio in September 2024, Rio de Janeiro reported an impressive average hotel occupancy rate of 95%. Beyond attracting both domestic and international tourists, the event showed an average 46% increase in RevPAR compared to the same period the previous year, when the biennial event did not take place. This positive performance also benefited investors, with hotel financial results seeing increases of up to 40% compared to September 2023.

This shows how the impact of major events, combined with a blend of business and leisure tourism, plays a key role in the success of the hospitality industry. Both Rock in Rio 2024 and The Eras Tour highlight how entertainment tourism and the ability to attract diverse audiences can transform a city’s economic scenario