STR: Super Bowl Impact Exceeds Expectations For Atlanta Hotels
BROOMFIELD, Colorado — Atlanta hotel performance growth exceeded projections during Super Bowl LIII weekend, but ranked below the average of the previous eight host markets, according to an analysis by STR's Consulting & Analytics office.
During the nights of Friday, 1 February, through Sunday, 3 February, the Atlanta market posted 387.2% growth in revenue per available room (RevPAR), which was driven predominantly by a 246.5% increase in average daily rate (ADR). Occupancy in the market rose 40.4%.
"RevPAR growth came in a bit higher than our forecast of 350%, but the impact was still a bit lower than previous Super Bowl hosts because of Atlanta's significant market size," said Carter Wilson, STR senior VP of consulting & analytics. "The primary factor in measuring the Super Bowl lift is market size, followed by seasonality. Markets with more rooms to fill are more limited in their RevPAR gains, while smaller markets tend to demonstrate greater pricing power. Considering the size of the market, the 387% jump in RevPAR is actually quite remarkable."
As anticipated, the area directly around Mercedes-Benz Stadium posted the most significant performance in both absolute terms and percentage change. Even with more rooms to fill, the STR-defined Atlanta CBD submarket reported a RevPAR increase of 812% to $617.37, which neared the level of growth in the Minneapolis CBD (873%) during last year's Super Bowl. Buckhead and Galleria/Marietta were other submarkets to register growth above the market average at 645% and 329%, respectively.
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