Updated : Feb 9, 2025
The Super Bowl 2024 is not just a game; it’s an extravaganza that captivates audiences worldwide. But behind the glitz and glamour lies a wealth of data that can reveal fascinating insights into the economic impact of such a monumental event.
At PriceLabs, we delved deep into the numbers for vacation rentals surrounding the 2024 Super Bowl.
Discover how the 2024 Super Bowl outperformed 2023, with insights into ADR and RevPAR surges. According to our findings, Las Vegas has an average daily rate higher by 2.6 times compared to Glendale. The impact of the 2024 Super Bowl compared to the 2023 Super Bowl, in terms of occupancy, ADR, and RevPAR, resulted in a 12% higher occupancy rate. We further dived into a detailed analysis of occupancy rates, revenue spikes, and market dynamics to uncover what made it a roaring success from a revenue perspective.
Comparative Analysis: Super Bowl 2024 vs. Super Bowl 2023
Let’s begin with a comparative look at the 2024 Super Bowl happening in Las Vegas versus its predecessor, the 2023 Super Bowl that happened in Glendale. Despite similar stadium capacities of roughly 65,000 seats and anticipated crowd counts, the 2024 edition experienced a remarkable revenue surge. We created compsets using PriceLabs Market Dashboard with a three-bedroom limit and a 20 km radius around Las Vegas and Glendale stadiums. During the 2024 Super Bowl, Las Vegas had a notably restricted availability of listings beyond this threshold. Below are our findings:
Contextual Insight: ADR Disparity between Las Vegas and Glendale
While occupancy levels remained relatively consistent, the Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR) skyrocketed to 1.67 times that of the 2023 Super Bowl.
In considering our analysis, it’s crucial to note that the Average Daily Rate (ADR) in Las Vegas was 2.6 times higher than in Glendale. It adds essential context to our findings. Specifically, the 2024 Super Bowl yielded significantly higher Revenue Per Available Room (RevPAR) for STR than the 2023 Super Bowl. This surge in RevPAR can be attributed to notable increases in occupancy rates and ADR, particularly significant given the substantial ADR disparity between Las Vegas and Glendale.
Revenue Surge: 2024 Super Bowl Weekend
During the 2024 Super Bowl weekend, occupancy rates increased by 14%, with the Average Daily Rate (ADR) surging by 2.33 times and Revenue Per Available Room (RevPAR) skyrocketing by 3.08 times compared to the previous week.
Year-over-Year Comparison: 2024 vs. 2023
Compared to the same period the previous year, occupancy grew by 9%, while ADR and RevPAR increased by 2.4 times and 2.9 times, respectively.
Analysis of 2023 Super Bowl Performance
For the Super Bowl in 2023, there was a significant drop in occupancy by 19%, while the Average Daily Rate (ADR) surged by 2.26 times, and Revenue Per Available Room (RevPAR) increased by 1.72 times. This decline in occupancy can be attributed to the overall underperformance of the market in 2023 compared to 2022 throughout the year.
Viewership Surge: Breaking Records
Speaking of viewership, the 2024 Super Bowl shattered records, boasting a 16% increase compared to previous years and becoming the most-watched event since Apollo 11. This remarkable surge in viewership underscores the Super Bowl’s enduring popularity and highlights the immense revenue potential across various sectors, including hospitality.
What contributed to the success of Super Bowl 2024?
Impact of Taylor Swift and Key Players
One standout factor contributing to the success of the 2024 Super Bowl was the participation of global sensation Taylor Swift alongside prominent athletes. The substantial press coverage surrounding these influential figures likely fueled heightened interest and demand. Ultimately translating into increased revenue for accommodations in the vicinity.
Repeat Success for Kansas City Chiefs
The 2024 Super Bowl marked the second consecutive appearance for the Kansas City Chiefs. It may have amplified excitement and anticipation among fans. This repeat participation likely played a pivotal role in bolstering attendance and driving up accommodation prices. It further enhances revenue for local businesses.
Thrilling Match and Competitive Edge
A highly competitive and thrilling match is always a recipe for success, and this year’s Super Bowl delivered precisely that. The nail-biting finish and overall quality of gameplay likely kept viewers glued to their screens. It resulted in heightened engagement and increased viewership numbers. This surge in interest directly translated into higher demand for accommodations. Hence allowing property owners to capitalize on the influx of visitors.
Conclusion: Maximizing Revenue Potential with Data Insights
The 2024 Super Bowl is a testament to the power of data-driven insights in unlocking revenue potential. Businesses can comprehensively understand market dynamics and leverage strategic opportunities to optimize pricing strategies. Also, they can capitalize on major events by analyzing key metrics such as occupancy, ADR, and RevPAR.
At PriceLabs, we remain committed to empowering businesses with the tools and insights needed to thrive in dynamic markets. By harnessing the power of data, businesses can adapt to changing trends and stay ahead of the curve. This ultimately maximizes revenue and drives sustained growth.
