In the early days of summer each year, two quiet, secondary hotel markets come alive to host a pair of the country's most raucous annual college sports events.
Each June — and sometimes late May on the softball side — Omaha, Nebraska, and Oklahoma City rapidly flip from mildly calm Midwest business hubs to the centers of the baseball and softball universes. Omaha hosts the College World Series — this year from June 14-24 — and Oklahoma City hosts the Women's College World Series, which starts May 30 and runs through June 7.
While nearly all college sports championships — such as the Final Four men's and women's basketball tournaments and the College Football Playoff — relocate each year, often prioritizing placement in primary markets, both College World Series tournaments have the distinction of remaining in the same host markets for decades. These tournaments have become essential to the overall success of the hotels in their host markets.
It is important to note the many factors that contextualize the success of each tournament. On the men’s side, Charles Schwab Field in Omaha has a seating capacity of 24,000, which is second-largest in the state. Omaha has hosted the College World Series since 1950, making this market synonymous with college baseball.
Formerly known as the USA Softball Hall of Fame Stadium, Devon Park in Oklahoma City has a more modest capacity of 13,000. However, renovations in 2020 increased the stadium's capacity from 9,000, providing a necessary boost for the Women's College World Series that has caught on with new fans over the past several years.
Local hotel supply has also increased considerably in both host markets. Since the 2010 College World Series, Omaha’s monthly supply has grown 21.2% from June 2010 to January 2024. Oklahoma City has undergone an even more robust increase of 23.4% hotel supply growth during that time.
But what about hotel revenue? Modern sporting events are assessed more so on the money accrued rather than fan sentiment. Hotels in both Oklahoma City and Omaha have done well over the years. According to CoStar hospitality data, the Women's College World Series has grown annual hotel revenue yields from $10.9 million during its run in 2010 to $26.8 million for the 2023 tournament. In Omaha, the College World Series has followed a similar trajectory, raking in an annual average of $16.8 million in 2010 and doubling to $34.9 million in 2023.
Since 2014, hotel occupancy in Oklahoma City has shown a relatively linear path as popularity grew. Meanwhile, Omaha hotel occupancy tended to perform more erratically with a couple years of moderate to no growth or occupancy declines. Since both markets are squarely located in tornado alley, inclement weather may be another factor affecting hotel occupancy. It’s no mistake that 2011 saw the lowest occupancy during this span as the Midwest was ravaged by storms both before and during the tournaments.
Though Omaha has been quicker to regain close-to-peak hotel occupancy levels, both markets enjoyed a major surge in hotel average daily rate and revenue per available room between 2021 and 2022. This may be in large part due to inflation, which increased 9.1% over the trailing 12 months, according to the Bureau of Labor Statistics.
ADR and RevPAR have remained on a solid recovery since and should continue to do so with hotel rates in each market continuing minor growth. Both markets handily exceeded previous highs in ADR and RevPAR last June, though keeping that momentum up this year may be a tall order for both markets. Next year may see continued solid performance, though some degree of leveling off is anticipated. Inflation is projected to soften, and both these events are creeping closer to pre-2020 performance peaks. With very little hotel supply change currently taking shape in either market, it’s expected hotel occupancy will show modest gains.
Though not on the level of popularity enjoyed by other sports, the College World Series and Women's College World Series have continued to grow. Perhaps the greatest advantage shared by both tournaments is the how they contrast heavily from most marquee sporting events and are mainstays in their host markets' event calendars. Most national championships at the collegiate and professional levels are increasingly unaffordable as they evolve into larger spectacles each year, often pricing out the average fan.
Despite hotel rates trending upward since suspending play in 2020, ADR for these tournaments has remained judicious; for example, the Women’s Final Four in Cleveland carried an average hotel ADR of more than $225 this April. And while most contests of this caliber are costly to attend, both the College World Series and Women's College World Series offer single-game tickets for as low as $17.
For fans, affordability and family-friendly environments are diminishing in nearly aspect. The collegiate baseball and softball championships may stand as the clearest exceptions to this movement.
Nathan Rael is an account manager with STR, CoStar's hospitality analytics division.