Taylor Swift concert hotel rates spiking before show this weekend

MINNEAPOLIS (FOX 9) - If you thought tickets to see Taylor Swift in Minneapolis this weekend were expensive, you should see the hotel rates.

The Grammy winner is set to take the stage before sold-out crowds on both Friday and Saturday night, drawing in fans from across the state, country and world.

"Taylor Swift is a marketing maven who brings an entire economy with her," said Courtney Ries of Meet Minneapolis, and a big chunk of that economy is hotel rooms.

Combined with Pride events and a Kiwanis Convention, the organization expects this weekend will be the biggest so far this year when it comes to occupancy, projected to top out at more than 90%.

"When you have this confluence of all these incredible, amazing events... it's really hard to remember a time in the summer that's had this many events on one weekend with this much excitement around them," said Ries.

If you don't have a room yet, be prepared to pay.

"There are definitely still some rooms in town, but you should be prepared to spend slightly less than you would for a Taylor Swift ticket," said Ries, who says the average cost for a hotel room on Friday or Saturday night is $500-$700.

Concerts have always been big business for hotels. The highest occupancy nights over the last three years have all coincided with shows at US Bank Stadium.

Ahead of this weekend, time is of the essence.

"If you are looking for a room, it's better to get one as soon as you possibly can... just like tickets you really don't want to take that risk," said Ries.