Published on : Wednesday, February 19, 2014
Hotels in New Jersey and New York reported moderate performance results during Super Bowl weekend compared to other past host Super Bowl cities, according to data from STR Analytics.
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.
Tags: Hotel News, RevPAR, STR Analytics, Super Bowl
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