Melbourne Oasis Concerts Spark Short-Term Rental Surge, Pushing Occupancy Rates to 97%

Australia's short-term rental market hits new heights as the highly anticipated Oasis reunion concerts sent demand for local accommodations soaring. With thousands of fans flooding into Melbourne, STR management company Hometime reported a staggering 97% occupancy rate across their properties, marking one of the highest spikes since pre-pandemic tourism booms.

"The Oasis concerts created a clear surge in Melbourne demand, with short-term rental properties experiencing significant uplifts in both occupancy and nightly rates," said Abdullah Mohammad, Senior Manager of Revenue and Pricing at Hometime. "Occupancy reached 97% over the three-day period of the concerts, while nightly rates increased by 35-40% on average."

Hometime also reports a 19% uplift in RevPAR, 9% higher occupancy, and a 24% increase in accommodation revenue during the Oasis concerts compared with the same period last year.

Highlights
Occupancy rate: 97%
Average nightly rate increase: +35-40%
Booking lead times: 6-8 weeks before the event
Key suburbs: Docklands, Melbourne Central Business District, North Melbourne, Carlton, Fitzroy, Collingwood, and other transit-linked areas

Capitalising on demand spikes is key to profitability

Melbourne has always been a popular tourist destination, with a healthy year-round mix of business travel, events and leisure trips. But event-based surges in short-term rentals are causing fluctuations in the market, which many hosts struggle to take advantage of.

"Average daily rates (ADRs) in Melbourne typically fluctuate around major events in the city. Two major events that consistently draw a large influx in demand every year are the Australian Open in January and the Formula 1 Australian Grand Prix in March. Recent concerts by international artists also cause similar surges, as seen in February FY24 with Taylor Swift and October FY25 with Oasis," said Abdullah.

"Tighter price management, which includes stronger event nightly rate strategies and proactive pacing adjustments, are essential. By leaning into real-time signals, you can capture significantly higher returns for your property," said Abdullah. "For owners, this translates into a meaningful earnings boost and a strong demonstration of how strategic event-based revenue management turns major cultural moments into tangible financial upside."

How events-based tourism are changing booking patterns

For most visits in Melbourne, you tend to see a familiar pattern: intrastate visitors typically stay only 1-2 nights and book closer to their travel dates, while interstate and international visitors stay longer and book much earlier. With Oasis and other similar events, this pattern is amplified.

"The concentrated spike in ticket-driven demand means earlier pick-up and opportunities to extend minimum stays as fans look to combine the concert with general sightseeing of Melbourne, allowing you to maximise both length of stay and nightly yield," said Abdullah. "There is also strong compression across key suburbs, with properties in the Docklands and the Central Business District booked first, then spilling out to North Melbourne, Carlton, Fitzroy, Collingwood, and other transit-linked areas, which fill more rapidly than normal. "

For short-term rental owners, key booking patterns include:
1. A noticeable pull-forward in the booking window, with properties filling months earlier than a "normal" spring weekend.
2. Compression across neighbouring dates, especially the Thursday before and the Sunday-Tuesday between shows.
3. More multi-night bookings, particularly 3-5 night stays that combine the gig with sightseeing, food, sport and shopping in Melbourne.

Future Implications

Australia's packed events calendar continues through 2026 with the Australian Grand Prix, the AFC Women's Asian Cup, the Rugby League World Cup, plus blockbuster tours like Ed Sheeran's Mathematics tour. Event-based tourism is also expected to further accelerate as Australia prepares to host the 2032 Brisbane Olympics and Paralympics. This makes strategic planning and event-specific preparations more important than ever for short-term rental hosts. The question is: How can you ensure you're prepared for the next time Oasis, Taylor Swift, or any other major event comes to town?

Some key tips include:
1. Set your prices early to attract early booking guests, then push prices higher as market occupancy increases
2. Set your minimum stays to 2-3 nights to attract longer stays while avoiding pushing other eventgoers to other properties offering shorter stays
3. Monitor bookings in your area to make sure that you're competitive

You may also consider partnering with professional Airbnb management in Australia for pricing management built around your property's unique earning potential: https://www.hometime.io/airbnb-property-management. STR managers like Hometime combine expert insight and market context to help you stay ahead of the curve, using real-time signals to proactively adjust pricing and minimum night stays.

Schedule an obligation-free chat to know more about how professional management can help maximise your returns.
https://www.hometime.io/list-your-home

Hometime
152 Elizabeth Street, Melbourne, VIC 3000
Christian Suzon
christian.suzon@hometime.io
1300 616 299

Hometime takes care of every aspect of managing your short-term rental in Sydney: from professional photography and styling, multi-channel listings, all-around guest management, dynamic pricing, cleaning & maintenance, and more. We partner with local hosts in your area who take care of your property & your guests like their own. Schedule an obligation-free chat to know more about how we can help your STR earn more.

This release was published on openPR.