On February 12, Super Bowl LVII was held in Glendale’s State Farm Stadium with nearly 68,000 spectators. Attendance levels were just below the average for the last eight Super Bowls (excluding the COVID-19-affected year of 2021) and below the 2015 game’s 70,288 attendees, also in Phoenix. However, this year’s event did not disappoint the hotel industry in Greater Phoenix.Prior to the weekend, STR forecasted Phoenix’s Super Bowl weekend performance: 94% occupancy levels at $445 average rates, equating to $419 revenue per available room (RevPAR)—the second-highest levels for a Super Bowl weekend in history.
WE WON! We exceeded RevPAR expectations for the weekend, falling below forecasted occupancy levels but far surpassing ADR forecasts. In the chart below, you can see the nightly occupancy and rate levels for the Phoenix market compared to 2015 performance.
That didn’t stop our hoteliers from driving rates up, especially with the Super Bowl event taking place on the same weekend as the Waste Management Phoenix Open. Phoenix’s Super Bowl weekend registered the second-highest ADR and RevPAR levels in Super Bowl history, with Miami in 2020 leading at $559 ADR and $519 RevPAR.
Additionally, hotels benefited from revenue beyond hotel room bookings, including banquets, increased food and beverage sales, and other ancillary revenue sources, such as spas and meeting room rentals.
The city is already looking forward to its next Super Bowl host experience!
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Sources:
https://str.com/press-release/phoenix-forecasted-second-highest-hotel-revpar-super-bowl-history
https://www.statefarmstadium.com/
https://www.nfl.com/super-bowl/
About Zabada N. Abouelhana
In 2019, Zabada joined HVS in the HVS St. Louis office, working across the Heartland region. In 2021, she relocated to Phoenix, Arizona, to lead that office and gained experience throughout the Southwest region, primarily in Arizona, Utah, and Nevada. She spent half of 2022 in the HVS Dubai office, where she worked on complex hospitality assignments across the Middle East and Africa, including valuations, feasibility studies, and market studies on glamping resorts, integrated resorts, historic properties, and mixed-use assets, as well as an operator search and contract negotiation assignment.
Prior to joining HVS, Zabada worked in Yosemite National Park as an Operations Manager, where she managed a full-service restaurant, a lounge, a fast-casual restaurant, and a Starbucks. Zabada graduated from the School of Hotel Administration at Cornell University and holds a Bachelor of Science in Hotel Administration. During her time at Cornell, she was involved in the student organizations Hotel Ezra Cornell and Alpha Phi Omega, and she held positions at the SHA Communication Center and The Statler Hotel. Zabada holds a certified general appraisal license.
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Great article! I heard some crazy rates in the market, and people staying as far as Yuma! Glendale properties were also charging for parking to accommodate non-guests! $$$
It's all about the ADR with these big events, and it looks like this year was no exception! Very nice summary