Hotel performance during Super Bowl weekend in Las Vegas was unprecedented.
Not only did Las Vegas top every other Super Bowl host city in hotel average daily rate and revenue per available room, its ADR on Saturday and Sunday was the highest ever in the continental U.S. excluding Hawaii. The Las Vegas results also drove total U.S. hotel industry performance for the weeks of Feb. 4-10 and Feb. 11-17, CoStar data shows.
ADR on Sunday, Feb. 11 — the day of the game — sealed the record for Las Vegas, though for past Super Bowl host cities, rates were at a premium the Saturday before the game. Last year, in Phoenix, Saturday achieved the highest ADR at $540, about $10 above Sunday. When Miami hosted in 2020, Saturday ADR was $16 above Super Bowl Sunday. However, in Las Vegas, ADR peaked on Sunday at $808, approximately $50 above Saturday’s ADR, and more than $580 above the Sunday ADR baseline.
More impressive, Las Vegas also achieved the highest Saturday ADR at $758 and highest Sunday ADR at $808 in the history of the continental U.S. The market’s Friday ADR was $739, the second highest for that day.
The Las Vegas Strip attained an even higher Sunday ADR, reaching $962, more than $700 above the Sunday baseline.
The previous record for Sunday ADR was set about a month prior, on Jan. 7 of this year, by San Francisco at $784, helped by the JP Morgan Healthcare Conference. San Francisco hotel ADR for Jan. 8 is the highest on record at $835. The record holder for Friday ADR is the Florida Keys at $815, which is the third highest level in the metric for any day on record.
Combined, the Friday through Sunday ADR was $768, representing a lift of over $500 compared to the Friday through Sunday baseline ADR.
Even adjusted for inflation, Las Vegas ADR for the Friday through Sunday of Super Bowl weekend surpassed the previous record, held by Miami, by nearly $100.
Las Vegas hotels did not set a record for occupancy, but more than 413,000 hotel rooms were occupied from Friday to Sunday — the largest hotel demand for a Super Bowl weekend and nearly double the number of occupied rooms of the second-highest, which is Los Angeles, host of the Super Bowl in 2022.
The high inventory of hotel rooms in Las Vegas made it difficult to achieve the highest Super Bowl weekend occupancy. Las Vegas is the largest hotel market by room count in the U.S. with over 167,000 rooms. It has 27,000 more rooms than Orlando, the second-highest.
Super Bowl LXVIII in Las Vegas was unprecedented in more ways than hotel performance.
The NFL’s Big Game averaged 123.4 million viewers and was the most-watched television program in U.S. history. Advertisers shelled out about $7 million for 30 seconds of Super Bowl airtime, which was the same as the previous year but well above the $5.5 million price tag in 2022. Nevada casinos received more than $185 million in wagers on the Kansas City Chiefs and San Francisco 49ers, breaking the previous all-time high of $179.8 million in 2022.
Interestingly, the announced attendance of 61,629 was the lowest in Super Bowl history outside of the pandemic. The low tally was due to the capacity of Allegiant Stadium, which was completely sold out for the game. Fewer available seats most likely played a role in exorbitant ticket prices, which averaged around $9,000 each on the secondary market the day before the game. This blew past Super Bowl LXVII’s average ticket price of just under $6,000 per ticket.