STR: Hotel impact from Minneapolis Super Bowl highest since 2012

BROOMFIELD, Colorado -- Minneapolis/St. Paul reported the highest increase in revenue per available room (RevPAR) for any Super Bowl host market since 2012, according to an analysis by STR's Consulting & Analytics team.

During Super Bowl LII Weekend (2-4 February 2018), the Minneapolis market posted an average occupancy level of 92.5% and an average daily rate (ADR) of US$354.41. As a result, RevPAR jumped a staggering 626% compared with the same three days in 2017. Among the past eight Super Bowl host markets, only Indianapolis (2012) posted a higher RevPAR increase (+1,082%).

"Minneapolis has the third-smallest hotel inventory among the last eight Super Bowl hosts, so expectations were high for performance increases around the game," said Hannah Smith, STR consultant. "Those expectations were surpassed as Minneapolis ranked fourth in our analysis of Super Bowl weekend occupancy and rate. Performance extended out to the weeks prior to the big game as well, with Minneapolis showing 137% growth in RevPAR during the two-week lead up to the event. Again, only Indianapolis, the smallest of the recent host markets, showed a better gain in the metric."

Within the Minneapolis/St. Paul area, all submarkets defined by STR showed RevPAR increases above 450%, with the highest lift seen in the Minneapolis CBD (873%). In absolute values, occupancy in the central business district was 99.0%, while ADR was US$492.38 – each the highest among Minneapolis submarkets.

"The combination of lower hotel supply and a typically slow time of year for the market resulted in extraordinary performance gains for Minneapolis," Smith said. "It is safe to assume we will see the opposite next year with incredibly steep declines, but it will be important to keep in mind that the absolute values are still comparable with the market's historical averages."

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