Phoenix’s hotel revenue per available room (RevPAR) is forecasted to reach $419 for February 10-12, which would be the second-highest level for a Super Bowl weekend, according to STR.
The market, also hosting the Phoenix Open this week, is projected for Friday through Sunday night occupancy of 94% and average daily rate (ADR) of $445. Even with 11.7% more supply in the market, a unique volume of demand is forecasted to push occupancy slightly higher than Phoenix’s last host year in 2015 (93.7%). The ADR level would rank third among host markets behind Miami in 2020 and San Francisco in 2016.
“Phoenix’s jump in RevPAR during its last Super Bowl host year was staggering, and this time around will be no different with big-time growth contribution from both occupancy and ADR,” said Isaac Collazo, STR’s VP of Analytics. “Demand speaks for itself, especially with consumer behavior around the event free of pandemic concerns—unlike the last two Super Bowls. Phoenix’s ADR situation has different influences than recent host markets given inflation and having less upper-tier supply than a Los Angeles or Miami.”
The overall Phoenix market comprises 544 hotels accounting for 70,488 rooms.
“The Super Bowl rarely disappoints for the host hotel industry, but the impact is greater in markets like Phoenix because of an overlap with peak season in the destination as well as a more modest ADR baseline than other major metros,” said Collazo.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.