Copa América vs Euro 2024: Impact on Short-Term Rentals

The 2024 UEFA European Championship and the 2024 Copa América, two of the world’s most prestigious international soccer tournaments, recently concluded with thrilling finals in Berlin and Miami. Copa América vs Euro 2024 showcased talent and passion and significantly impacted the short-term rental market in their host cities.

The Euro 2024 final between Spain and England at Berlin’s Olympiastadion marked the culmination of a month-long tournament that captivated European fans. In Miami, Argentina, Lionel Messi sought to capture a third consecutive major international trophy as they took on the upstart Colombian team in the Copa América final at Hard Rock Stadium.

In this article, we discuss the impact that the Copa America and UEFA European Championship had on the vacation rental industry

This article will explore the impact of the Copa América vs Euro 2024 on the short-term rental market in Berlin and Miami, respectively, and discuss the implications for the hospitality industry in these host cities. While we understand the impact of these two events, look at the other short-term rental conferences and events you should attend to network with short-term rental influencers and podcasters and get their hosting tips and tricks.

Short-Term Rental Market Performance in Miami During Copa América vs Euro 2024

The Copa América final, hosted at Hard Rock Stadium in Miami, saw Argentina and Lionel Messi take on upstart Colombia. The tournament’s impact on the short-term rental market in Miami was substantial, with significant growth in occupancy rates.

Overall Market Analysis of Copa América vs Euro 2024

1. Occupancy Rates: The occupancy rate during the event week (July 13-14, 2024) was 57%, a notable increase from the previous year (July 13-14, 2023) when it was 45 %. This represents a 12 % growth in occupancy compared to last year.
2. Booked Nights: The number of booked nights increased by 22 % compared to the previous year, with 38,018 booked nights this year.

Short-Term Rental Market Performance in Berlin During Copa América vs Euro 2024

The UEFA European Championship final, held at the Olympiastadion in Berlin, featured a match between Spain and England. The tournament’s impact on the short-term rental market in Berlin was also significant, with notable growth in occupancy rates.

1. Occupancy Rates: The occupancy rate during the event week (July 13-14, 2024) was 63%, a slight increase from the previous year (July 13-14, 2023) when it was 61%. This represents a 2% growth in occupancy compared to the previous week.
2. Booked Nights: The number of booked nights increased by 13 % compared to the previous year, with 14,316 booked nights this year.

We use many terms in this article, which can sometimes be confusing. However, we’ve got your back! We have an entire glossary of terms for you to understand the various vacation rental KPIs and other important terms.

What is Waiting Post Copa América vs Euro 2024?

The data suggests that the short-term rental markets in both Miami and Berlin are poised for continued growth and increased demand after the Copa América vs Euro 2024. The significant occupancy rate increases during the recent tournaments indicate that these cities are well-positioned to capitalize on future major events. The short-term rental market in Berlin, in particular, has shown a strong ability to adapt to and benefit from large-scale events, with a notable increase during the UEFA European Championship final.

Forward-Looking Short-Term Rental Market Performance in Miami

The event has led to an inflated market performance. However, we will not see the same inflated performance next month. According to current data, at the same time next month, occupancy might be 14.7%, which is pacing along with the market.

The occupancy rate in Miami registered for August 14th.

Are There Any Future Demand Fluctuations You Need to Consider?

Demand is projected to increase in mid-October, primarily due to Taylor Swift’s concert at Hard Rock Stadium on the 19th, and occupancy might be 26%.

There’s a spike in demand around October 19th in Miami.

Forward-Looking Short-Term Rental Market Performance in Berlin

The event has led to an inflated market performance. However, we will not see the same inflated performance next month. According to current data, at the same time next month, occupancy might be 30.5%. Same time last year, occupancy was 34.5% on August 14th. It might not be time for caution right now. Wait for a while, and then re-evaluate your pricing strategy.

The occupancy rate in Berlin for August 14th.

Are There Any Future Demand Fluctuations You Need to Consider?

We’re seeing two specific increases in demand in September. The occupancy rate for the 7th of September might be 40%, which can be attributed to the Lallapalooza happening on the same date. There’s another jump for the 28th of September; the occupancy rate for then would be 41.5%, which can be attributed to the BMW Berlin Marathon.

The spike witnessed for September 7th can be attributed to Lallapalooza.

The spike witnessed for September 7th can be attributed to BMW Berlin Marathon

Does the Copa América vs Euro 2024 Influence Any Other Events?

As the Copa América vs Euro 2024 concluded, the other five confederations have yet to conduct matches. The 2024 FIFA Intercontinental Cup final will be the final match of the upcoming FIFA 2024 tournament. It will be played on December 18, 2024. The champion of the UEFA Champions League will compete against the champions of the other confederations at a neutral venue.

1. In the first round, the winner of the 2023-24 AFC Champions League (Asia) or the 2023-24 CAF Champions League (Africa) will host the winner of the 2024 OFC Champions League (Oceania).
2. The winner of that first-round match will then host the 2023-24 AFC Champions League winner or the 2023-24 CAF Champions League in the second round.
3. In the other second-round match, the winner of the 2024 CONCACAF Champions Cup (North/Central America) will play the winner of the 2024 Copa Libertadores (South America) at the home stadium of one of the teams.
4. The winners of the two second-round matches will then face off in a playoff round at a neutral venue, with the victor advancing to the final against Real Madrid, the reigning UEFA Champions League champions.

While the venues and schedules of the tournament have not been finalized, it is important to follow these events closely. FIFA generally has a great impact as seen in the previous cup hosted in Qatar.

Conclusion

Spain-England drew a combined 9.43 million viewers Sunday afternoon, and in primetime, Argentina’s victory over Colombia averaged 11.63 million across the two networks. The matches drew attention in both TV viewership and for short-term accommodations, potentially driving up prices and occupancy rates. Copa América vs Euro UEFA Championship 2024 substantially impacted the short-term rental markets in Berlin and Miami. Both cities experienced occupancy rates. The short-term rental market will remain a key player whenever any city hosts a major event as a convenient option.

By closely analyzing data and understanding demographics, logistics, and cultural factors, you can maximize occupancy and revenue. You can make data-driven decisions by monitoring these market-level trends using tools like the PriceLabs Market Dashboard. Pairing this with dynamic pricing strategies powered by PriceLabs’ algorithms ensures they automatically capitalize on fluctuations in demand. With the right mix of market intelligence and dynamic pricing, you can capitalize on the huge event market.