INDIANAPOLIS — Taylor Swift’s “The Eras Tour” is coming to Indianapolis in November 2024.
The sold-out tour has pumped millions of dollars into the economies of every city Swift has played in.
Indianapolis is ready for Swifties to come to town. Swift is set to perform at Lucas Oil Stadium for three nights — Nov. 1-3, 2024.
Out of all the events that the Circle City has hosted, “The Eras Tour” could be one of Indy’s wildest.
“This might be the biggest of them all,” IU Professor of Marketing Mark Mayer said. “Three nights of Taylor Swift might actually top the Super Bowl in terms of both the economic opportunity but also the focus that we’ll get here.”
Mayer expects the 33-year-old pop star to bring thousands of people and millions of dollars to Indianapolis.
“Cincinnati, Kansas City, Los Angeles, they’ve done some digging (through) their tourism bureaus into what it was worth for those cities,” Mayer said. “And roughly about $50 million per concert of incremental money (came) in.”
Patrick Tamm, the president of the Indiana Restaurant and Lodging Association said, even a year out, hotels in the area are already booking up.
FOX59 and CBS4 searched for hotels on Expedia. Some like the JW Marriott have already sold out, and others only have a few rooms priced around $1,000 a night left.
“Don’t wait, don’t wait a second to get online right now and start booking,” Tamm said. “Book direct to the hotel as well. But do not wait and do not anticipate rates to go down either.”
With that many Swifties flocking to central Indiana, some Hoosiers are looking to cash in on the dollars they will bring with them, renting out their own homes specifically to accommodate the influx of people.
Tara Holloran and her husband Ed regularly rent out a home in Speedway on Airbnb.
The 4 bedroom, 2.5 bathroom rental has hosted people from all over the world, including celebrities for Indy 500 weekend. Now, the couple is looking to cater to the Swifties.
“We have kind of a racing theme, which is really fun,” Tara Holloran said. “We get a lot of race fans. But I’m also a huge Taylor Swift fan, so the chance to kind of shift gears and maybe add some fun decor and just feel like part of the magic of that weekend would be really fun.”
Tara Holloran thinks she could rake in anywhere from $300-$1,200 a night when Swift is in Indianapolis.
“Eight to 10 people could stay here, so it is renting the whole house,” Tara Holloran said. “While sometimes it may seem like sticker shock when they first look at it, I think we’re comparable to hotels or maybe even a little less expensive than hotels.”
Tara Holloran said that, if you’re considering renting your home out, there’s one big precaution she highly recommends you take.
“The house is listed so people have to submit an inquiry,” Tara Holloran said. “They can’t just (automatically) book. There’s two different options on Airbnb.
“So, some people you can just book like you rent a hotel online, then there’s another option Airbnb offers where somebody has to submit a request and let us know why they’re coming and where they’re coming from. It gives us a chance to do some screening and make sure that they’re guests that we feel comfortable renting to.”
If you’re looking to put your place up for rent like the Hollorans, Conner Dickerson, a business and real estate Attorney with Cohen and Malad, LLP in Indy said there are some rules you need to have down.
“It’s not just a flash in the pan that you can, you know, haphazard your way through,” said Dickerson.
Dickerson said homeowners’ first step should be to check with their HOAs and confirm renting of houses is allowed in their neighborhood.
If you’re in an apartment, there are often subleasing clauses that prevent you from renting out. Dickerson said it still doesn’t hurt to ask your landlord.
Dickerson added that it’s also a good idea to beef up your homeowner’s insurance. This offers additional protection that third-party sites like Airbnb and Vrbo may not cover.
In Marion County, you need to register for a short-term rental permit before listing your house on Airbnb or Vrbo.
Dickerson said some places in Marion County and Indiana are exempt, and it’s important to check with your local municipality.
“A lot of people do see a short term opportunity for, to cash in and make some money,” Dickerson said. “I think that, if you’re properly set up and prepared, then the risks certainly don’t outweigh the rewards.”
As for Tara Holloran, she hopes the Swifties love for Taylor translates to the Circle City and they leave a blank space in their hearts for Indianapolis.
“I think we’re an amazing host city,” Tara Holloran said. “And so anything that brings people here to see our city, I think is exciting for them to, yeah, see what we have to offer.”