Skift Take
Initial reports suggest Las Vegas reaped solid economic rewards from its first time hosting the Super Bowl.
Dawit Habtemariam
Hotel guests in Las Vegas during Super Bowl 2024 paid the highest room rates in continental U.S. history, according to an analysis by CoStar’s STR.
The average daily rate on Saturday and Sunday during Super Bowl weekend in Las Vegas was $758 and $808, respectively. Both were the highest for Saturday and Sunday, not only in Super Bowl history but also in continental U.S. history (excluding Hawaii).
On Sunday, hotel guests on the Las Vegas Strip paid an even higher rate of $962 to watch the Kansas City Chiefs play the San Francisco 49ers, CoStar said.
“The game was another strong hotel and casino event for us with ADRs [average daily rates] near $1,000 and posting 3 of the top 5 room revenue days ever recorded,” said MGM Resorts CEO and President Bill Hornbuckle during a fourth-quarter earnings call.
The average daily rate for short-term rentals was $365, up 19% from the weekend before, according to AirDNA.
Over $700 Million in Potential Economic Impact
The game had a higher-than-expected economic impact on Vegas. February 2024 was likely the best month in Vegas’ economic history, said Steve Hill, CEO and president of the Las Vegas Convention and Visitors Authority. The weekend was also the biggest in Nevada’s gaming history, besting expectations.
“We estimated between $600 and $700 million,” said Hill. “It’ll be over $700 million.”
Super Bowl LVIII was the most-watched game in the event’s history, averaging 123.4 million viewers across all viewing platforms, CBS Sports reported.
“The spotlight on the city throughout the week was unprecedented,” said Hill. “Just enormous value for us there as well.”
Super Bowl LVIII was Vegas’ first time hosting the NFL championship. In past years, Las Vegas drew visitors for Super Bowl watch parties, said Hill.
“The game weekend is typically a strong event for MGM Resorts, but having the game in town amplified those results dramatically,” said Hornbuckle.
Short-term rentals received more than $5.7 million in revenue compared to the previous weekend, according to AirDNA. The majority of the revenue was due to additional nights booked rather than higher rates.
Super Bowl Fans Vs. Formula 1 Fans in Economic Impact
Demand made a bigger splash for short-term rentals during the Super Bowl than Formula 1 late last year.
“Super Bowl was more of a populist kind of event,” said Bram Gallagher, economist for AirDNA. “F1 tends to be more of a rarefied customer base.”
Visitor spending was more spread out at MGM properties. “On the Super Bowl, every cash register, from food and beverage to entertainment, was ringing,” said MGM Chief Operating Officer Corey Ian Sanders. “It was much more widespread at every property compared to F1, which was isolated to the luxury.”
FAQs
Hotel guests in Las Vegas during Super Bowl 2024 paid the highest room rates in continental U.S. history, according to an analysis by CoStar's STR. The average daily rate on Saturday and Sunday during Super Bowl weekend in Las Vegas was $758 and $808, respectively.
Have Las Vegas hotel room rates crashed days before the Super Bowl? ›
Room rates for Las Vegas motels and hotels for Friday and Saturday night — preceding Sunday's Super Bowl 58 between the Kansas City Chiefs and San Francisco 49ers at Allegiant Stadium — plummeted an estimated 35 percent from a survey taken Jan. 18. Room rates fluctuate over time, based on supply and demand.
Was the Super Bowl ever in Vegas? ›
Super Bowl's Las Vegas Debut: Was It Good for the City and the NFL? The first Super Bowl in Las Vegas completed the NFL's acceptance of the city.
How many people are in the Vegas Super Bowl? ›
An estimated 330,000 visitors were expected in Southern Nevada during Super Bowl weekend for the festivities and activities, including 62,000 fans who attended the game.
How much is a private room at Super Bowl? ›
How much does a luxury suite cost? The average cost of a Super Bowl ticket in the stands is $9,850, so you know a suite won't come cheap. Hospitality provider Suite Experience Group offer a range of suites which start at $180,000 for four tickets and go up to $1.8million for 20 tickets.
How much is a hot dog at the Super Bowl? ›
At the past two Super Bowls, hot dogs ran from $8 to $12, but after a year where every figure involving cost hit all-time highs, the 2024 game day event is more than likely to top those numbers. Bookies.com is projecting Super Bowl LVIII hot dog prices to be somewhere in the realm of $12.75.
What hotel is being torn down in Vegas? ›
Tropicana Las Vegas to shut down, be demolished to make way for A's ballpark. The Tropicana Las Vegas, a Sin City landmark for more than six decades, is shutting its doors in the spring to make room for a $1.5 billion Major League Baseball stadium that will be home to the relocating Oakland Athletics.
What happened at Las Vegas hotel? ›
In October 2017, Paddock opened fire on a massive crowd of concertgoers from a window of the Mandalay Bay Resort and Casino, killing 58 people in the initial shooting and injuring about 500 others. In the years after the massacre, two more victims have died of shooting-related injuries.
How long would it take to stay in every hotel room in Las Vegas? ›
It would take 288 years for one person to spend one night in every hotel room in Las Vegas.
How much are the cheapest Super Bowl tickets in 2024? ›
According to recent reports, the average Super Bowl ticket price for the 2024 game is around $8,600 as of Wednesday, with the lowest-priced tickets running at $6,500 on Ticketmaster and a little over $8,000 on Stubhub.
The state's sportsbooks are 31-2 against the public since the Nevada Gaming Control Board started tracking Super Bowl bets in 1991, with the only losses coming in 1995 and 2008. The sportsbooks have now turned a profit in 16 straight Super Bowls.
How much money will Las Vegas make from the Super Bowl? ›
As for Las Vegas, the city is preparing for over 330,000 visitors to book about 350,000 hotel rooms for Super Bowl weekend, with an estimated economic impact of over $600 million. According to STR, Vegas hotels are expected to earn $504 RevPAR during the big game, outpacing the $390 earned by the Vegas Grand Prix.
What team has never won to the Super Bowl? ›
Twelve current NFL teams have never won a Super Bowl: Arizona Cardinals, Atlanta Falcons, Buffalo Bills, Carolina Panthers, Cincinnati Bengals, Cleveland Browns, Detroit Lions, Houston Texans, Jacksonville Jaguars, Los Angeles Chargers, Minnesota Vikings, and Tennessee Titans.
How much money did the Super Bowl bring to Las Vegas in 2024? ›
The game was expected to draw about 330,000 visitors to Las Vegas and drive an economic impact of $600 million to Southern Nevada, according to estimates from the Las Vegas Convention and Visitors Authority. Average nightly rates at hotels across Vegas were estimated to hit $573 from Feb.
How much does it cost to go to the Super Bowl 2024? ›
According to recent reports, the average Super Bowl ticket price for the 2024 game is around $8,600 as of Wednesday, with the lowest-priced tickets running at $6,500 on Ticketmaster and a little over $8,000 on Stubhub.
How much does a suite cost at the Super Bowl? ›
According to TickPick, a ticketing resale marketplace, the price of a suite at this year's Super Bowl can cost anywhere from $800,000 to more than $2m, depending on the type of suite. There are 128 executive suites on three different levels in the stadium, plus 44 Loge Boxes.
How much is a room in Las Vegas during the Super Bowl? ›
Incredible cost of Super Bowl LVIII commercials
According to Expedia, with a week to go for the match, rooms at five-star hotels like the Aria, the Bellagio, and The Venetian started at $1,500 or more per night and that amount is expected to increase quickly.
How much is a trip to the Super Bowl? ›
Right now, tickets start at nearly $10,000. However, you can also find tickets through ticket brokers like Stub Hub , Seat Geek and TicketSmarter . Tickets on those sites start from $6,500. All of these sell Super Bowl tickets at comparable prices to the official package deals, only without the package perks.
