A Farewell to Deadheads: How hotels can make the most of Dead & Company’s Final Tour
The Final Tour is the ultimate opportunity for hotels to jam out – and make a sizeable profit
Formed in 1965, The Grateful Dead was an iconic rock band known for their epic songs, live concerts extended by lengthy jam sessions, and a dedicated fan base of Deadheads that still follow them to this day.
While The Grateful Dead played their last official show in 1995 – remaining members of the band Bob Weir, Mickey Hart, and Bill Kreutzmann reassembled along with John Mayer, Oteil Burbridge, and Jeff Chimenti in 2015 to keep the band’s legacy alive, touring as the supergroup “Dead and Company.”
Hitting the road this month for their last official tour ever, Dead and Company’s “The Final Tour” will include 29 shows starting on May 19 in Inglewood, CA and ending July 19 in San Francisco.
Combined, the tour is predicted to drive $35,590,516 for accommodation providers, restaurants, and ground transportation in the tour’s host cities. For example, for the tour’s stop at Fenway Park in Boston on Saturday, June 24, local spending is estimated to be $3,249,786, with accommodation representing $1,847,322 of the spending:
Let’s take a look at 4 ways local hotels can make the most of the increased spending around the event.
4 ways for hotels to maximize revenue during Dead & Company’s Final Tour
1. Adjust room rates
Hotels within proximity to the event should increase rates for the nights leading up to and just after the event to capitalize on the increased demand for hotel rooms. The typical distance people are willing to travel from an event to their hotel room is about a 15 minute drive – meaning within this distance, these hotels are most likely to see a surge in demand for Dead & Company’s Final Tour, and other major events within proximity. Be sure to compare rates with your highest rates for the year, and against your competitors’ rates – as dynamic pricing for events is a delicate balance, and you don’t want to price yourself out of the market.
2. Host your own Dead & Company event
Attract fans of the band by offering them a Grateful Dead-themed mixer event just before the concert. Combined with your other amenities, this sort of event can be the deciding factor as to why your rooms get booked up before the competition. Accommodation providers that have bars, restaurants, rooftops, and other event spaces can capitalize by using the space to host low-cost, high ROI events for guests that will help your brand stand out amongst the pack.
3. Offer a shuttle service
In addition to a themed event, you can also offer a shuttle service to and from the venue for your guests. This type of service is helpful for those traveling from out of town, and anyone who would rather avoid having to find parking, or fight their way through traffic to get to the concert on time. By getting your guests to and from the event safely, you can further solidify your hotel as the go-to for local concerts, baseball games, and other major events taking place near your locations.
4. Fine-tune staffing
Ensure a high level of guest satisfaction by making sure you are staffed appropriately for the increased demand. During peak demand periods, you may see more:
Calls from guests who need directions to the hotel
Calls from guests in rooms who need assistance
In-room dining requests before and after the event
Guests looking for valet parking
Each of these services need trained, reliable staff to run smoothly while demand doubles or even triples during major events. You also need enough staff to turnover rooms quickly in the event of early check out, so your cleaning crew can work efficiently to prepare all rooms well before check in time.
The concert and event promotion industry is anticipated to surpass $65 billion in 2023
Concerts are major drivers of demand for accommodation providers. As the industry is expected to continue growing this year, you want to be aware of each demand-driving concert well ahead of time – so you can adjust your operations to make the most of these peak demand periods.
Access intelligent event data today to join the ranks of leading hotels using insight into upcoming concerts, performing arts events, sports games, and many other categories of events to align planning with demand. Track 3 of your hotel locations for free with your free PredictHQ account or buy access to more depending on your needs.