Needle Movers

Citywide events play a crucial role in driving hotel demand and boosting economic and social benefits for host cities. By strategically attracting and investing in a diverse mix of events throughout the year, cities can ensure improved and more consistent hotel occupancy levels, improved revenue, and long-term growth in the sector all of which generates improved investment fundamentals . In this report, CBRE examines how major events across Australia's eastern seaboard capitals Sydney, Melbourne, and Brisbane have impacted hotel performance, revealing the top events that have moved the needle in terms of room demand and revenue. From major sporting events like the NRL Grand Final to cultural milestones such as Taylor Swift’s Eras Tour, these high-profile events generate millions in extra room revenue and lift occupancy rates, particularly during off-peak periods.

Sydney’s event driven boost is led by the Harbour NYE fireworks, which alone generated $51 million in additional hotel room revenue. Melbourne’s iconic Australian Grand Prix drove significant room demand, recording $50 million in additional revenue and the Australian Open saw a surge of 66,500 additional room nights sold. In Brisbane, the NRL Magic Round proved to be a game changer, driving over 15,200 additional room nights and $14 million in extra revenue, making it the most lucrative event analysed in Brisbane.

Our analysis highlights the powerful impact of these major events, with findings showing that high-profile events increase occupancy and average daily rates, contributing to substantial revenue spikes. The report demonstrates the importance of diversifying event calendars and strategically timing events to maximise the long-term benefits for both the hotel sector and the broader economy. With a strong line up of events ahead, our eastern seaboard capitals are well-positioned to benefit from event-driven tourism, with the hotel sector set to leverage off the increased demand these events generate.