Las Vegas had a record-breaking Super Bowl weekend its first time hosting the NFL’s Big Game.
Hotels in the Las Vegas market achieved their highest weekend average daily rate ever, which was also set a new bar for Super Bowl host cities. ADR for the Friday and Saturday before the Super Bowl was $747. Before now, Miami held the record for highest weekend (Friday-Saturday) Super Bowl ADR at $563 in 2020.
With 83.7% weekend occupancy, Las Vegas ADR increased 227.1% year over year, resulting in revenue per available room growth of 239.6%. For the entire week, Las Vegas hotel RevPAR was up 139.9% compared to 2023, driven almost entirely by an ADR increase of 126.1%.
Las Vegas’ “Super” weekend also propelled the overall U.S. hotel industry, pushing ADR up 6.8% year over year and RevPAR up 3.9%. Excluding Las Vegas, weekly U.S. ADR was flat to 2023 and RevPAR was down 3%.
Las Vegas also moved RevPAR in the top 25 markets, up 11.1% year over year via a 12% ADR gain and despite a slight drop in occupancy. Excluding Las Vegas, RevPAR in the remaining 24 markets decreased 3% year over year as ADR dropped 1.9% and occupancy declined by 1 percentage point.
Events continue to be a big difference maker, not just for U.S. hotels but around the world, as Taylor Swift’s international concert tour raised hotel performance in Japan. Luxury and upper-upscale bookings by groups in the U.S. also increased for a fifth straight week.
US Hotel Performance
U.S. hotel industry occupancy fell 1.5 percentage points for the week ending Feb. 10.
While Las Vegas was the story this week, several other top 25 markets also posted solid RevPAR gains, including New Orleans, where Mardi Gras festivities lifted RevPAR 60.8% over the weekend and 21.4% for the full week. Hotels in Boston, Oahu and New York also achieved double-digit RevPAR increases — up 12.5%, 12.4% and 11.5% respectively.
Outside of the top 25 markets, RevPAR declined 2.6% on lower occupancy and modest ADR growth of 1.3%. RevPAR outside of the top 25 markets has fallen in every week of the year so far and in 29 of the past 31 weeks. Mobile, Alabama, and the New Jersey Shore, however, bucked the trend with both reporting RevPAR growth in excess of 20%.
Luxury and upper-upscale group demand grew for a fifth consecutive week, increasing 6.5% compared to the same week last year and up 7.8% over the past four weeks. Group ADR was also up 5.9% this week and has increased 4.7% over the past four weeks. Sixteen of the top 25 markets posted year-over-year group occupancy gains. Las Vegas and Orlando posted the highest group occupancy and greatest year-over-year occupancy increase.
Global Hotel Performance
Outside of the U.S., performance for the top 10 countries based on supply was largely positive with weekly RevPAR declining in only three countries: China, Mexico and Germany. China was affected by the shift of Chinese New Year, which resulted in a sharp drop in occupancy. ADR was up 36.1% year over year, but it was insufficient to drive RevPAR.
Spain’s hotel industry achieved the greatest occupancy gain of the top 10, up 5.5 percentage points year over year to 61.6%. The boost came from the capital Madrid, up 12 percentage points to 72%, and the Mediterranean coast market, up 9 percentage points to 60.9%.
Japan hotel ADR increased 53.4%. This was a result of countrywide strong performance, especially in the region of Hokkaido and city of Kyoto, where rates were up 55% year over year, and the mega event in Tokyo, four nights of Taylor Swift’s Eras tour performed at the 55,000-capacity venue. ADR in the city was up 51.8% to $245. Japan continues to lead the top 10 in RevPAR growth, this week up 56.3%.
Isaac Collazo is vice president of analytics at STR. Chris Klauda is senior director of market insights at STR. William Anns is a research analyst at STR.
This article represents an interpretation of data collected by CoStar's hospitality analytics firm, STR. Please feel free to contact an editor with any questions or concerns. For more analysis of STR data, visit the data insights blog on STR.com.