SINGAPORE: A man took to social media to ask Singaporeans why rooms in Geylang hotels have suddenly increased in price.
“Why are hotels in Geylang so expensive? >$400 for a night at Hotel 81,” the man wrote on r/SingaporeRaw on Saturday (March 2).
The man also shared a screenshot of hotel prices in the area, revealing that a one-night stay at Hotel 81 (Premier) Hollywood costs S$434. It also showed that nearby hotels offer rates ranging from around S$197 to S$625.
In the comments section, many Singaporeans said this was due to the ‘Taylor Swift effect.’
One Redditor commented, “Foreign fans, accommodation crunch, and Geylang’s proximity to the event venue are huge contributors.”
While another said, “Taylor is in town. [All of their] money was used for her concert. Hence, [they] all have to stay in budget hotels.”
One Redditor also drew comparisons between the concert and the F1 season, saying, “Yeah, probably because of Taylor Swift. A similar price hike happens due to the F1 period.”
Despite the steep prices, Booking.com shows that Hotel 81 (Premier) Hollywood is fully booked for the duration of Taylor Swift’s The Eras Tour concert, which runs from March 2 to 9.
This pattern of sharp increases in hotel rates has been observed in Singapore and at other stops on her tour. For instance, during Swift’s concert in London, the Daily Mail reported that hotel rates soared by as much as 200 per cent.
It also cited the Premier Inn at Wembley Stadium as an example, which charged £313 on August 15, the day of her concert, instead of £74 exactly one week before.
As for Singapore, unlike the S$438 rate of Hotel 81 (Premier) Hollywood during the concert period, the regular rates typically hover around S$150 or less.
Also, as per Booking.com, on March 10, following the conclusion of her final show, room prices will return to normal. During this time, a one-night stay would only cost S$121 to S$136.
Why do hotel prices go up whenever there’s a concert?
International concerts, such as Coldplay’s recently concluded Music Of The Spheres World Tour and Taylor Swift’s The Eras Tour, attract a large number of fans not only from the locals but from other countries as well.
As a response, hotel owners usually take advantage of this opportunity to maximize their profits by raising prices.
Also, hotels near concert venues have limited room availability, especially during major events. As a result, they can afford to charge higher prices because of the high demand and low supply of rooms.
Read also: Taylor Swift’s upcoming concerts soar Singapore tourism with 2373% surge in tour bookings