US: Los Angeles and Inglewood are reporting significant short-term rental booking surges ahead of this weekend’s highly-anticipated Super Bowl LVI.
Ahead of the season-ending match on Sunday, the Super Bowl weekend is bringing masses of visitors back to the city – a far cry from the previous two years when urban demand has not been able to recover to pre-pandemic levels.
Short-term rental data and analytics provider, AirDNA, said that it had observed a 24.5 per cent growth in booked units in Los Angeles with an average booked rate of $316 – a 62.7 per cent rise from the average booked rate for the same weekend in 2020 [$194].
Comparing booking data to the same point in 2020, total revenue for the market was up 103 per cent on the same weekend in 2020, and occupancy is currently sitting at 78 per cent.
At the same time, it is shaping up to be a bumper weekend for Inglewood, with 476 per cent more revenue than the same weekend in 2020, though it is far behind the +1017 per cent in revenue in Atlanta in 2019 and +3177 per cent in Minneapolis in 2018.
Inglewood – the host city for the 2022 Super Bowl – has seen remarkable growth of 97.9 per cent in booked units compared to the same weekend in 2020, with an average booked rate of $337 [+191 per cent v 2020].
Occupancy has levelled out at 83.4 per cent [v 73.2 per cent in 2020], and the remaining available units for last-minute travellers are currently selling at $1645 per night [v $349 in 2020], leading to a 476 per cent rise in total revenue for the market compared to the same weekend a year ago.
Meanwhile, there has been major growth in available listing nights compared to 2020 [+73.6 per cent], meaning that more units have been made available on the market for the momentous weekend.
The Cincinnati Bengals and the Los Angeles Rams will face off in the 2022 Super Bowl on Sunday at SoFi Stadium in Inglewood, California, the home stadium of the Rams.