HENDERSONVILLE, Tennessee—While the New York Giants took home the diamond-studded NFL championship rings last weekend, Indianapolis hoteliers also emerged from the Super Bowl weekend victorious.
According to weekly performance data from STR, parent company of HotelNewsNow.com, room revenue for Friday and Saturday (Sunday performance data will be released next week) was US$17.8 million, an increase of 907.2% over the same dates last year. The gain was the highest revenue growth as a result from the Super Bowl in the last few years, although the absolute total was less than the revenues seen in previous host cities Dallas and Miami.
The Indianapolis market sold 60,500 rooms during the two-day period—a smaller total demand bump than seen previous host cities primarily due to the smaller size of the Indianapolis market. However, demand growth in Indy was up an impressive 129.9% compared to Miami’s 20.8%. Miami’s lower demand growth could be attributed to the fact that early February is a typical peak season for the Miami market, so there would be less growth because of the Super Bowl.
Indianapolis saw record highs for occupancy as well, selling 95.5% of the market’s total room supply. These heads in beds resulted in 130.5% growth in the metric. Average daily rate reported an impressive 338.1% increase over the same period last year to US$294.55.