Audit, tax and consulting firm RSM UK found the average cost of room rates on Saturday jumped from £104.17 to a supersonic £416.14 this Saturday – demonstrating a 399% increase due to the Oasis effect.

Based on an average ticket price of £171.10, Barclays has calculated that Oasis fans will spend on average £766.22 on accommodation, eating and drinking out, new outfits and travel to see the homecoming gig – highlighting a wider boost to the North West economy.

Chris Tate, head of hotels and accommodation at RSM UK, said:

“The impact of this iconic band reforming brings 90’s nostalgia to today’s audiences and the hotel sector in Manchester is reaping the benefits with a spike in demand this weekend. Hotels are contending with a number of headwinds with increased employment costs, flat room rates and a dip in occupancy in May, so a demand uplift couldn’t come at a better time.

“Big ticket events such as this not only boost hotels but the knock-on effect of increased footfall is huge; and will be a welcome boost to retail and hospitality across the city.

Kevin Duffy, regional managing partner at RSM UK, said:

“Manchester put on a show this weekend and the Gallagher brothers shone bright in the sunshine at Heaton Park. The city came alive with pop-up shops, bucket hats and revellers which created an amazing atmosphere, but will also go some way to adding a certain swagger to the region’s economy.”