US: Revenue management solution Beyond has explored the short-term rental booking trends for yesterday’s Super Bowl LVIII between the Kansas City Chiefs and the San Francisco 49ers, the first Super Bowl to be held in Las Vegas, Nevada, at Allegiant Stadium.
Every year, the Super Bowl brings together sports enthusiasts, celebrities, and tourists worldwide – and is usually a boon for short-term rental hosts and property managers.
Las Vegas Super Bowl short-term rental prices and market trends
According to Beyond’s data in the lead up to the big event, occupancy was pacing to dramatically rise on 10 and 11 February, with occupancy approaching 56 per cent and 53 per cent respectively. Compared to last year in Arizona, it shows a significant increase in occupancy rates of more than 30 per cent for vacation rental properties.
Vacation rental profit trends
RevPAN in Las Vegas was pacing substantially higher this year for Super Bowl weekend, spiking from $39 at the same time last year to $127 in 2024 for Super Bowl weekend. Revenue per available night [RevPAN] is a metric that gives a more equal picture of revenue management performance over a given period of time.
Short-term rental prices
The average daily rate [ADR] for short-term rentals in Las Vegas during the weekend also spiked dramatically, reaching $526 compared to last year’s $180.
A key trend to note is that supply has increased year-over-year by 52.4 per cent. This suggests a higher level of competition among Las Vegas property managers and hosts.
Vacation rental booking trends
When it comes to booking lead time, 60 per cent of people staying for the Super Bowl booked one to two months in advance for the weekend of 10 February. Furthermore, the majority of people chose to stay through the weekend.
Of those checking in on 9 February, 61 per cent were staying for three nights, and 58 per cent of those checking in on 10 February were staying for two nights.
The Kansas City Chiefs defeated the San Francisco 49ers 25-22 in Sunday’s showpiece event to close the 2023 NFL [National Football League] season. It was the Chiefs’ fourth Super Bowl success in their history.