South Florida by the numbers: Super Bowl LIV Impact
“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.
The Kansas City Chiefs may have scored the most points, but one could argue that Miami was the real winner of Super Bowl LIV earlier this month. A series of anecdotal and data-driven reports have confirmed the dramatic economic impact of the game and associated events on the entire region, specific industries, and individual businesses. While South Florida is no stranger to the business boom generated by Super Bowls, having now hosted the affair 11 times, there was something extra special in the air this year. (And we don’t just mean Jennifer Lopez’s halftime performance). Join us in running up the score as we present this month’s edition of South Florida by the numbers.
135: Number of condominiums that sold during Super Bowl week, an increase of 53 (or 65 percent) from the prior week. [TheRealDeal]
200: Percentage increase in Miami area condominium tour bookings during Super Bowl week, according to eight real estate professionals. Local projects hosted a variety of special soirees and events during the week to increase their exposure to area visitors, including game-watching parties, exclusive dinners with NFL legends, and panel discussions. [MiamiHerald]
$26.4 million: Anticipated total short-term rental income generated by Airbnb hosts during Super Bowl week, according to a company spokesman. Nearly 84 percent of all local Airbnb listings were booked during the weekend of the game, even with hosts charging exorbitant rate increases. [TheRealDeal]
$175.20: According to data analysis firm STR, Miami hotels’ revenue per available room (RevPAR) value during Super Bowl weekend. In addition to the average daily rate (ADR) increase of 148.5 percent, year-over-year, these figures represented the highest-performing metric levels of any Super Bowl weekend, with occupancy in the market rising 11.3 percent to 92.8 percent. [STR]
More than $200 million: Estimated value of free publicity generated via media coverage of the game and its ancillary events, according to Miami Super Bowl Host Committee Chairman Rodney Barreto. Local companies also benefited through the event’s Business Connect program, which coupled nearly 300 local minority-owned businesses with vendor contracts to provide goods and services to the game and its related events. [SFBJ]
This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.