Los Angeles hotel rates set for $445, second highest for a Super Bowl weekend
BROOMFIELD, Colorado – The average daily rate (ADR) and revenue per available room (RevPAR) of hotels in the Los Angeles market are expected to reach the second highest levels on record for a Super Bowl weekend, according to the forecast team of STR.
The market is expected to reach an ADR of $445 and a RevPAR of $396 from Friday February 11 to Sunday February 13.
“Since July, the Los Angeles hotel market has consistently reached monthly rates near or above pre-pandemic levels,” said Blake Reiter, Director of Custom Forecasting at STR. “Occupancy has also improved rapidly towards 2019 levels, but it has not reflected the same degree of recovery. We expect there to be, at least to some extent, a reduction in occupancy due to COVID. Of course, if the NFL decides to change venues as the media has suggested, or implement stricter protocols, hotel performance in Los Angeles will certainly be part of the effects. training.”
“LA last hosted the Super Bowl nearly 30 years ago in 1993, which makes comparisons difficult as it was a completely different hotel market at the time. As such, we decided to analyze performance data from more recent Super Bowl weekends in markets such as San Francisco/San Jose and Miami. Although a smaller market, Miami is somewhat similar in terms of typical occupancy levels in Feb. We also believe that Miami, especially the luxury segment, has a similar rate for VIP travelers.
Super Bowl hotel occupancy in Los Angeles is expected to surpass Tampa, but below what has been seen in Miami. During the comparable weekend in 2020 (Friday, Saturday and Sunday nights) before the pandemic began, Los Angeles hotel occupancy was 87.7%.
“Although we are still in the midst of the pandemic, we do not anticipate the same degree of impact from COVID that we have seen in 2021,” said Reiter. “Last year we didn’t see the typical two weeks leading up to the game when occupancy starts to increase as production crews, NFL staff and game attendees arrive. This year, we expect a higher level of demand capture ahead of the game. While startup demand may not be as large as we would otherwise expect in a non-pandemic year, we can certainly expect an increase from what has been seen in Tampa.
STR provides premium benchmarking data, analysis and market intelligence for the global hospitality industry. Founded in 1985, STR operates in 15 countries with North American headquarters in Hendersonville, Tennessee, international headquarters in London, and Asia-Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of online commercial real estate information, analysis and marketplaces. For more information, please visit str.com and costargroup.com.
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