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Mon, 5 October 2015

RevPAR Boost for Hotels in RWC 2015 Host Cities

According to data compiled by STR, the opening weekend of the Rugby World Cup 2015 provided hotels in host markets with a significant growth in RevPAR.

Opening weekend matches were held 18-20 September, and during that three-day period, each of the four markets to host a match averaged year-on-year RevPAR increases of higher than 25.0%: Cardiff, Wales (+148.5%); Gloucester, England (+37.4%); Brighton, England (+28.2%); and London, England (+27.0%).

In Cardiff, RevPAR grew year-on-year by more than 115% each day even though the market did not host a match on Friday. When Wales played against Uruguay on Sunday at Millennium Stadium, RevPAR increased by 194.6% when compared with the same day in 2014. The absolute RevPAR of £88.42 was driven by a 35.6% increase in occupancy to 78.8% and a 117.2% rise in average daily rate to £112.18.

Gloucester reported RevPAR increases of more than 40% on both Saturday and Sunday. The market did not host a match on Sunday. RevPAR reached £83.73 for Saturday on the back of a 97.4% absolute occupancy level and a 44.5% increase in ADR to £86.00.

Brighton hotels saw a minor dip in RevPAR on Friday (-1.2%) but reported increases of 23.4% and 62.5% on Saturday and Sunday, respectively. Saturdayís absolute RevPAR of £150.05 was driven by a 24.7% increase in ADR to £159.99. On Sunday, RevPAR reached £51.64 thanks to a 28.2% increase in occupancy to 60.1% and a 26.8% rise in ADR to £85.99.

Londonís RevPAR growth was driven by ADR increases of more than 15% each day. Occupancy remained stable with the exception of a 12.3% increase to 79.3% on Sunday. The opening ceremony and match featuring England and Fiji led to a 121.7% RevPAR increase on Friday for hotels within a 5-kilometer radius from host Twickenham Stadium which is in the Borough of Richmond Upon Thames, roughly 16-km from the centre of London and 10-km from London Heathrow.

The Rugby World Cup runs through 31 October, and several additional markets joined as hosts following the opening week. In total, the tournament is expected to result in more than 400,000 international visitors and 2.45 million tickets sold.

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