HENDERSONVILLE, TENNESSEE – Las Vegas hotel average daily rate (ADR) is forecasted to reach $573 for 9-11 February 2024, which would be the highest level for any Super Bowl weekend on record, according to STR.
The market is projected for a Friday through Sunday night occupancy of 87.9%. That level combined with an ADR of US$573 would result in revenue per available room (RevPAR) of US$504. For comparison, the Formula One Vegas Grand Prix that took place in November 2023 produced an actualized ADR of US$502, netting a RevPAR of US$390 over the Thursday through Saturday period.
“The Super Bowl’s unique volume of demand, driven by not only the game but the leadup festivities, as well as the attractions Las Vegas has to offer, is the perfect recipe to drive record-breaking prices,” said Chris Klauda, STR’s senior director of market insights. “While the F1 Vegas Grand Prix impact was the greatest on and around the Las Vegas Strip, the reach and impact of Super Bowl LVII will spread to areas well beyond the Strip.”
Miami (2020) holds the record for the highest Super Bowl ADR and RevPAR level. A significant difference between the two destinations is size, as Las Vegas, the largest market in the U.S. (393 hotels accounting for 172,707 rooms), is well over twice the size of the Miami in terms of rooms inventory.
The article Las Vegas forecasted for highest hotel ADR in Super Bowl history first appeared in TravelDailyNews International.