Unprecedented Hotel Prices for Super Bowl Weekend in Las Vegas

During Super Bowl weekend in Las Vegas, the hotel performance reached unprecedented heights. Not only did Las Vegas outshine all previous Super Bowl host cities in terms of hotel average daily rate (ADR) and revenue per available room (RevPAR), but its ADR on Saturday and Sunday set records as the highest ever in the continental U.S., excluding Hawaii. According to CoStar data, the impact of Las Vegas' results extended to the overall performance of the U.S. hotel industry for the weeks of Feb. 4-10 and Feb. 11-17.

The record-breaking ADR on Sunday, Feb. 11—the day of the game—solidified Las Vegas's standing. In contrast to previous Super Bowl host cities where Saturday achieved the highest ADR, Las Vegas bucked the trend. The ADR on Sunday reached an impressive $808, surpassing Saturday's ADR by approximately $50 and exceeding the Sunday ADR baseline by over $580.

Notably, Las Vegas achieved the highest Saturday ADR at $758 and the highest Sunday ADR at $808 in the history of the continental U.S. The Friday ADR in the market was $739, marking the second-highest for that day. The Las Vegas Strip, in particular, boasted an extraordinary Sunday ADR of $962, surpassing the Sunday baseline by more than $700.

The previous Sunday ADR record was set about a month earlier on Jan. 7 in San Francisco at $784, attributed to the JP Morgan Healthcare Conference. San Francisco's hotel ADR for Jan. 8 stands as the highest on record at $835. Meanwhile, the Friday ADR record is held by the Florida Keys at $815, ranking as the third-highest level in the metric for any day on record.

In aggregate, the ADR for Friday through Sunday amounted to $768, representing a substantial increase of over $500 compared to the baseline ADR for the same period.

Even when adjusted for inflation, the Average Daily Rate (ADR) in Las Vegas for the Friday through Sunday of Super Bowl weekend exceeded the previous record, held by Miami, by nearly $100.

While Las Vegas hotels did not establish a record for occupancy, the period from Friday to Sunday saw over 413,000 hotel rooms occupied — marking the highest hotel demand for a Super Bowl weekend and nearly double the number of occupied rooms compared to the second-highest, which was Los Angeles, the host of the Super Bowl in 2022.

The extensive inventory of hotel rooms in Las Vegas posed a challenge in achieving the highest Super Bowl weekend occupancy. As the largest hotel market in the U.S. by room count, Las Vegas boasts over 167,000 rooms, surpassing the second-highest, Orlando, by 27,000 rooms.

Super Bowl LXVIII in Las Vegas stood out in more ways than just hotel performance.

The NFL's Big Game drew an average of 123.4 million viewers, making it the most-watched television program in U.S. history. Advertisers invested approximately $7 million for a 30-second slot of Super Bowl airtime, maintaining the same rate as the previous year but significantly surpassing the $5.5 million price tag in 2022. Nevada casinos experienced a surge in wagers, with over $185 million placed on the Kansas City Chiefs and San Francisco 49ers, breaking the prior all-time high of $179.8 million in 2022.

Notably, the announced attendance of 61,629 marked the lowest in Super Bowl history outside of the pandemic. This decrease was attributed to the capacity of Allegiant Stadium, which was completely sold out for the game. The limited number of available seats likely contributed to elevated ticket prices, averaging around $9,000 each on the secondary market the day before the game. This figure significantly exceeded the average ticket price of just under $6,000 per ticket for Super Bowl LXVII.