Ticketek ‘glitch’ appears to re-sell fan’s $659 ticket for Taylor Swift concert — “They said, ‘someone else has it, we don’t know who, we can’t check or track who has your ticket’”::A Taylor Swift fan believed her VIP ticket was ‘stolen’ from her account by Ticketek after an apparent system ‘glitch’.
Not sure where you live, but any big city is likely to have (as a whole) more than enough hotel capacity that a single big event won’t cause that much demand. You just won’t be able to find a room nearby. Add a 20 minute (or 60, depending) Lyft to the suburbs and they’re barely aware that the event is happening.
Also, to get that price you need to look at extended stay hotels. These blur the lines between a hotel and a short-term rental apartment. They do not offer a stay for a single night. They are often sold by the week, or at least with a 1-week minimum