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.
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 many people will be attending the Super Bowl in 2024? ›
The 2024 Super Bowl, which was hosted at the Allegiant Stadium, in Las Vegas had an attendance of around 61.2 thousand fans.
Was there ever a Super Bowl in Las Vegas? ›
The debut of Las Vegas as a Super Bowl host city is officially over, after a week unlike any other before it. The NFL fully embraced the home of sports betting, complete with league branding taking over casinos and sportsbooks, as well as some of the hottest bars and nightclubs.
How much are the hotel rooms for the Super Bowl 2024? ›
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.
Has Vegas ever lost money on the Super Bowl? ›
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 2024? ›
From street vendors selling $40 T-shirts to resale brokers getting more than $30,000 a ticket for the best remaining seats, the Super Bowl between the San Francisco 49ers and the Kansas City Chiefs is estimated to draw 330,000 people to Las Vegas and pump as much as $700 million into the economy.
How many seats are at the Super Bowl 2024? ›
This marks the first time Las Vegas and the state of Nevada will host the Super Bowl. The stadium opened in 2020 and can seat 65,000 fans at full capacity. The game will be a rematch of Super Bowl 54, played between the 49ers and defending champion Chiefs, who won Super Bowl 57 last season.
How much were Super Bowl tickets in 2024? ›
How much was the average Super Bowl ticket price for 2024? Last-minute tickets to the Super Bowl were going for as high as $37,000 on the ticket resale platform StubHub Sunday afternoon, and $30,000 on SeatGeek. StubHub told CBS News last week that the average price for a Super Bowl ticket was $8,600.
By the numbers: Exact figures won't be available until after the game, but analysts' estimates range from 330,000 to 450,000 people flocking to Las Vegas and spending between $500 million and $1.1 billion, per the Las Vegas Review-Journal.
Who is singing for the Super Bowl 2024? ›
Super Bowl LVIII from Allegiant Stadium in Las Vegas won't be short on star power, and that includes the pregame entertainment lineup headlined by Reba McEntire and Post Malone. The former will sing the national anthem and the latter will sing "America the Beautiful." The big game will be broadcast on CBS (Feb.
How much did Usher get paid for the Super Bowl? ›
Usher, like his Super Bowl halftime show predecessors, spent months preparing for the world's biggest stage — but he didn't get paid for any of it.
Has anyone ever played in their own stadium for the Super Bowl? ›
Yes, the 2020 Buccaneers and 2021 Rams played Super Bowls in their home stadium. Which teams have never lost a Super Bowl? The Buccaneers (1–0), the Jets (1–0), the Saints (1–0), and the Ravens (2–0).
Who was the first celebrity to perform at the Super Bowl? ›
Carol Channing is known as the first celebrity performer at a Super Bowl Halftime Show. Channing, a Broadway star known for her role in Hello, Dolly!, performed in 1970 at Super Bowl IV. While Channing performed, she was actually not considered the headliner.
What hotel is being torn down in Vegas? ›
Las Vegas' landmark Tropicana hotel will be demolished to make way for baseball stadium. LAS VEGAS (AP) — When the Tropicana Las Vegas opened in 1957, Nevada's lieutenant governor unlocked the door to what would become a Sin City landmark for more than a half-century. Then he threw away the key.
Is Vegas busy for Super Bowl? ›
Yes. It is one of the biggest events of the year in Las Vegas. If you have a comped room I strongly suggest you book it today, as it might not . Heavy traffic impacted Las Vegas and The Strip after the Super Bowl and on Monday as 330000 tourists headed to the airport and home..
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.
What Vegas hotel is shutting down? ›
Hard Rock International, which acquired The Mirage in 2022, announced it will officially cease operations of the hotel on July 17. The Mirage hotel and casino is seen, Aug. 17, 2020, in Las Vegas. The last day of hotel occupancy will be July 14, the company stated on its website.
