Super Bowl and Short-Term Rentals: Rates Surge for the Big Game
Skift Take
Key Points
- Las Vegas sees an 87% surge in demand for short-term rentals during Super Bowl weekend.
- Average daily rates for short-term rentals increase by 51% compared to the previous year.
- Revenue from short-term rentals in Las Vegas experiences a 180% annual increase.
Summary
During the Super Bowl weekend in Las Vegas, there's a significant surge in demand for short-term rentals, leading to a notable increase in average daily rates (ADR) and overall revenue. AirDNA's analysis shows an 87% increase in demand and a 51% higher ADR compared to the same period last year. Kansas City Chiefs fans are significantly driving this demand, and although the rise in listings is modest compared to Phoenix last year, the revenue from short-term rentals in Las Vegas has seen a 180% annual increase.
It’s Super Bowl season and the booking calendars know it.
Crowds from all over the country will descend on Las Vegas on Sunday, February 11. For short-term rentals in the area, it’s like Christmas coming early.
Data vendor AirDNA’s analysis showed that by January 27, there was an 87% surge in demand for the Super Bowl weekend (Feb 9-11) and a 51% higher average daily rate (ADR) compared to the corresponding weekend last year.
This year, the ADR for booked listings on platforms such as Airbnb and Vrbo for the weekend of February 9-11 is $353, compared to $234 the prior year. Daily rates for listings available have escalated to $508, compared to $276 the prior year.
Super Bowl Effect on Short-Term Rentals in Vegas
Dates Booked Nights Revenue Booked ADR Available ADR Super Bowl '24 21,420 $7.5M $353 $508 Feb 9-11 '23 11,458 $2.6M $234 $276 Change 87.00% 182.00% 51.00% 84.00%
Source: AirDNA
Super Bowl Showdown
This year, the demand surge led to a 180% annual increase in Las Vegas’s short-term rental revenue.
And Kansas City Chiefs fans are driving a surge in short-term rental bookings. According to Airbnb data reported by the Las Vegas Review-Journal, fans of the Missouri-based team are conducting three times more searches for local Airbnbs during the week of the game (Feb. 5-12) compared to individuals in the San Francisco Bay Area. Overall, searches for Airbnb rentals in the Las Vegas Valley for the week of the game have increased by 65% compared to the same period last year.
Comparing Super Bowl-specific daily rates, Las Vegas attracts a 50% ADR hike for the weekend compared to the preceding weekend, which is less than the 78% boost Phoenix had last year.
In contrast to Phoenix, Las Vegas has not witnessed a substantial surge in listings — with only a 15% annual rise as of the end of January. In comparison, Phoenix saw a 62% annual increase in listings in February 2023 — an additional 2,688 properties listed for the Super Bowl compared with the weekend prior.
“The short-term rental market in Phoenix is just a more expensive product, Las Vegas has most hotel rooms of pretty much any American city, there is a lot of price competition,” said Bram Gallagher, economist at AirDNA. “The premiums we saw in Phoenix last year were very large, and it’s difficult to raise prices that high in Las Vegas, even for the Super Bowl.”
It is very likely that a lot of this demand is attributable to Taylor Swift’s presence at the Super Bowl.
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