Published on : Wednesday, February 19, 2014
STR Analytics examined three tracts in particular, Bergen/East Rutherford in New Jersey, the Times Square area in New York and New York Uptown/Midtown East, which showed the greatest positive impact during Super Bowl weekend this year.
Hotels in all three tracts reported less-than-anticipated occupancy during Super Bowl weekend. Bergen/East Rutherford hotels reported 61.2-percent occupancy (a 69.4-percent increase over last year); Times Square Area hotels reported the highest occupancy (+17.5 percent to 79.8 percent); and Uptown/Midtown East hotels reported 74.8-percent occupancy (+23.6 percent). In comparison, New Orleans, Louisiana, occupancy reached 99.5 percent during Super Bowl weekend in 2013.
Average daily rate was the clear winner for the weekend as rates approached US$400.00. Bergen/East Rutherford hotels increased 129.6 percent in ADR to US$248.85. Times Square area hotels rose 102.0 percent to US$379.84, and Uptown/Midtown East increased 54.1 percent to US$382.66.
Bergen/East Rutherford hotels reported the largest revenue-per-available-room gain during the weekend, jumping 289.1 percent to US$152.34, followed by Times Square Area (+137.4 percent to US$302.96) and Uptown/Midtown East (+90.3 percent to US$286.39).
Rev PAR gain this year for area hotels during Super Bowl weekend was well behind Indianapolis’ 907-percent Rev PAR gain in 2012. However, this was to be expected given the larger size of the New York/New Jersey markets, and the fact these latter markets often perform at strong performance levels, even in February, so year-over-year gains are harder to achieve.