Room rates in hotels close to Wembley stadium have sky rocketed again after “out of town” Taylor Swift fans with tickets to concerts scrambled to secure accommodation.
Analysis of prices at hotels within a three miles radius of the venue show they have gone up more than five fold from an average of £89.14 a night a week ago to £475.40 now.
The singing superstar is playing five gigs during the second UK leg of her record breaking Eras tour with the last concerts tonight and tomorrow night.
Around 450,000 Swifties in total are attending the sell-out shows with many of them from outside the London area or abroad and unable to return home the same night.
The research from data platform Stocklytics the Hilton London Wembley saw the biggest spike with average room rates rising 834% from £111 to £1,329 over the course of a week.
Budget brand Premier Inn had a more modest price increase of 156% from £59.33 to £144, while Holiday Inn prices rose by 126% when Swift was in town.
Travelodge saw the smallest hikes with hotel price increasing by 98%.
It is the latest evidence of the “Taylor Swift effect” that some City commentators have said even has an impact on national economic data.
Inflation figures for June, when the singer fulfilled the first 10 UK dates of her tour in Edinburgh, Liverpool, Cardiff and London, showed a sharp rise in hotel prices that some analysts said kept the overall national inflation figure higher than they expected. Hotel prices subsided again in July when the overall inflation rate was slightly lower than expected.
