Madonna’s final concert of her Celebration Tour benefited Rio de Janeiro’s hotel performance in May, according to preliminary data from CoStar.
For May (year-over-year percentage change):
- Occupancy: 62 percent (+6 percent)
- Average daily rate: BRL729.06 (+19.9 percent)
- Revenue per available room: BRL452.14 (+27.2 percent)
On Saturday, May 4, Madonna wrapped her Celebration Tour with a free concert on Rio de Janeiro’s Copacabana Beach, which attracted over 1.6 million fans and resulted in the market’s highest daily levels for the month: occupancy (83.9 percent), ADR (BRL1,225.95) and RevPAR (BRL1,028.83). The daily ADR and RevPAR levels were also the highest since early February 2024, while occupancy was the highest since November 2023.
The second-highest occupancy levels were seen on Wednesday, May 22 (82.5 percent), the second night of the FPSO Brazil Congress, which overlapped with the final night of the Argus Rio Crude Conference.