Super Bowl in Las Vegas was responsible for the US hotel industry’s strong year-over-year growth in revenue per available room (RevPAR } for the week ending Feb. 10. which was up 3.9% and driven entirely by a 6.8% increase in average daily rate (ADR). US occupancy fell 1.5 percentage points as business slowed ahead of the big game. Without Las Vegas’ ADR contribution, US ADR would have been flat compared with last year and RevPAR down 3%.
Las Vegas also moved performance for the Top 25 Markets in aggregate, with RevPAR increasing 11.1% year over year, ADR up 12% and occupancy down 0.5 percentage points. Excluding Las Vegas, Top 25 Market RevPAR decreased 3% year over year as ADR dropped 1.9% and occupancy declined 1 percentage point.
Las Vegas reset the bar for Friday-Saturday Super Bowl ADR at $747, which was the highest in history. Until this past weekend, Miami held the record for highest Super Bowl ADR (Friday-Saturday, at $563 in 2020). Las Vegas also set a record for its highest weekend ADR ever as it rose 227.1%, resulting in RevPAR growth of 239.6%. Occupancy reached 83.7% over the weekend.
Group demand in luxury and upper upscale hotels grew for the fifth consecutive week, increasing 6.5% compared with the same week last year. Group ADR has also increased, up 5.9% year over year.
Sixteen of the Top 25 Markets saw year-over-year group occupancy gains. Las Vegas and Orlando posted the highest group occupancy and greatest year-over-year occupancy increases. St. Louis and San Diego also saw some of the highest group occupancy gains.
