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New Orleans Super Bowl: Hotel Performance Forecast

By Raquel Ortiz
5 February 2025
New Orleans Super Bowl: Hotel Performance Forecast
New Orleans Super Bowl: Hotel Performance Forecast

New Orleans is set to host Super Bowl LIX between the Kansas City Chiefs and the Philadelphia Eagles, and the market’s hotels are heading toward full occupancy around the big game on 9 February 2025.

As shown in our Forward STAR data, which tracks future booking levels, occupancy on the books is peaking at 90.1% the night before the game. That level was recorded on 27 January, just one day after the Chiefs and Eagles punched their respective tickets, so it is reasonable to expect further pickup via each teams’ followings. If you drill down further to the market’s central business district/French Quarter submarket, occupancy on the books was at a high of 96.5% for the Friday night before the game.

Additionally, average daily rate (ADR) is forecasted to grow 35% year over year, contributing to 43% growth in revenue per available (RevPAR). While those growth rates might not sound overwhelming for a Super Bowl, it is important to remember that NOLA’S 2024 comparable performance levels were high because Mardi Gras fell on the corresponding weekend. Regardless, the market’s Super Bowl growth rates have the potential to rank in the top five historically.

When the city previously hosted the Super Bowl in 2013, Sunday night RevPAR was $376 on 96.4% occupancy. For the entire weekend (Friday-Sunday), occupancy was at 95.8% and RevPAR at $371. Although NOLA’s supply has grown 14.3% since its last host year, the market it is likely to reach similarly high levels of hotel performance.

Las Vegas hosted the Super Bowl last year and set the record for the highest Super Bowl Saturday and Sunday ADR ever. While New Orleans is much smaller in terms of hotel supply, it is still a heavily traveled market, and all the entertainment and events leading up to the big day will surely bring in a crowd.

New Orleans Super Bowl: Hotel Performance Forecast
New Orleans Super Bowl: Hotel Performance Forecast

About CoStar Group, Inc.

CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with thirteen million average monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France's leading commercial real estate news service. Thomas Daily is Germany's largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group's websites attracted over 163 million average monthly unique visitors in the third quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations or beliefs regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences: the risk that future media events will not sustain an increase in future occupancy rates. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including in CoStar's Annual Report on Form 10-K for the year ended December 31, 2023 and Forms 10-Q for the quarterly periods ended March 31, 2024, June 30, 2024, and September 30, 2023, each of which is filed with the SEC, including in the "Risk Factors" section of those filings, as well as CoStar's other filings with the SEC available at the SEC's website (www.sec.gov). All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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