STR: Tampa Hotels Posted Moderate Rate Gains During Super Bowl Weekend

Outside the Raymond James Stadium in Tampa, Florida, on January 21, 2021, ahead of Super Bowl LV on February 7
Outside the Raymond James Stadium in Tampa, Florida, on January 21, 2021, ahead of Super Bowl LV on February 7

BROOMFIELD, Colorado — With limited attendance and game festivities, Tampa’s hotel performance gains came in far lower than that of previous Super Bowl host markets, according to STR. Despite the current pandemic environment, the Tampa market was still able to post a 64.5 percent year-over-year increase in average daily rate (ADR).

During the nights of Friday-Sunday, February 5-7, 2021, Tampa posted an absolute ADR of $245.82, which drove revenue per available room (RevPAR) up 64.9 percent to $202.59. Occupancy in the market was 82.4 percent, relatively flat in comparison to the equivalent days last year.

“Due to the circumstances around COVID-19, performance was certainly not what Tampa hoteliers dreamed about when the market was selected to host the Super Bowl,” said Blake Reiter, STR director of custom forecasts. “We typically see elevated performance beginning in the two-week leadup to the main event. This year, however, pandemic limitations were very evident in this regard. From the last week of January through the Thursday prior to the game, the market saw just a 58 percent occupancy level and an average rate of $121. Those levels each represented double-digit declines from the equivalent days last year. The most telling data from this year’s Super Bowl is that of RevPAR. No Super Bowl market in recent history has seen anything less than a doubling in the metric from the year prior. Tampa saw just a 65 percent increase in RevPAR, which was entirely driven by rate.”

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“While the NFL clearly had significant protocols in place entering the season, no one truly knew how the season would turn out and whether or not it would be played in its entirety without getting canceled at some point,” added Reiter. “The fact that the season culminated in a successful Super Bowl can only be viewed as a monumental success.”

The areas nearest Raymond James Stadium posted higher performance in absolute terms. The STR-defined Tampa CBD/Airport submarket experienced the highest occupancy (92.6 percent) and ADR ($384.73). Tampa East was the only other submarket to see an occupancy level above 80 percent (at 87.1 percent). Clearwater posted the second-highest ADR at $211.90.

Market Host Year Room Count Occupancy Percent change ADR Percent change RevPAR Percent change
Dallas 2011 81,476 77.2% +91.0% $207.38 +186.3% $160.02 +446.8%
Indianapolis 2012 31,320 93.8% +156.3% $301.76 +361.3% $283.13 +1,082.1%
New Orleans 2013 39,731 96.5% +53.8% $393.04 +199.7% $379.10 +361.1%
New York 2014 115,076 70.6% +13.2% $335.26 +89.5% $236.72 +114.6%
Phoenix 2015 63,544 95.2% +56.0% $360.84 +184.7% $343.46 +344.1%
San Francisco/San Jose 2016 51,077 77.1% +24.1% $402.60 +167.5% $310.31 +233.9%
Houston 2017 85,124 84.2% +50.2% $278.03 +203.4% $233.98 +355.8%
Minneapolis 2018 42,740 92.5% +97.8% $354.41 +267.1% $327.70 +626.1%
Atlanta 2019 99,918 75.9% +40.4% $314.97 +246.5% $239.17 +387.2%
Miami 2020 58,424 92.8% +11.3% $616.91 +148.5% $572.30 +175.2%
Tampa 2021 51,512 82.4% +0.2% $245.82 +64.5% $202.59 +64.9%

Source: STR


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