The average daily rate (ADR) for Las Vegas hotels is projected to reach $573 from February 9-11, 2024, which would be the highest level on record for any Super Bowl weekend, according to STR.
The market is projected to have a nighttime occupancy of 87.9% from Friday to Sunday. That level combined with an ADR of $573 would result in revenue per available room (RevPAR) of $504. For comparison, the Las Vegas Formula One Grand Prix that took place in November 2023 produced an updated ADR of US$502, resulting in a net RevPAR of US$390 for the Thursday-Saturday period.
"The unique volume of demand for the Super Bowl, driven not only by the game but also by the festivities leading up to it, as well as the attractions Las Vegas has to offer, is the perfect recipe to drive record prices," said Chris Klauda, STR senior director. of market knowledge. "While the impact of the Las Vegas F1 Grand Prix was greatest in and around the Las Vegas Strip, the reach and impact of Super Bowl LVII will extend to areas far beyond the Strip."
Miami (2020) holds the record for the highest level of Super Bowl ADR and RevPAR. A significant difference between the two destinations is size, as Las Vegas, the largest U.S. market (393 hotels representing 172,707 rooms), is more than twice the size of Miami in terms of room inventory.