Super Bowl LX Flips the Bay Area Script: Santa Clara Beats San Francisco on Price
Summary
Data from Super Bowl LX in the Bay Area reveals a shift in STR market dynamics. Santa Clara's proximity to the stadium allowed ADRs to surge to $415, while San Francisco captured 70% of the economic impact. Hosts should consider the interplay of 'Utility' vs. 'Experience' when adjusting pricing and marketing strategies.
Key Insights
- •San Francisco properties are projected to capture nearly 70% of the total regional economic impact, despite being further from the stadium.
- •Demand for STRs outpaced supply growth by a 5-to-1 ratio during the Super Bowl weekend, with booked nights increasing 52% in Santa Clara and 57% in San Francisco.
- •Santa Clara's Average Daily Rate (ADR) surged to $415 for Super Bowl LX weekend, a 146% increase year-over-year.
Action Items
- ✓Hosts in San Francisco might utilize length-of-stay (LOS) restrictions to capture the full week of festivities.Effort: lowImpact: medium
- ✓Consider properties near Caltrain or VTA stations; these are experiencing value spikes comparable to stadium-adjacent homes.Effort: lowImpact: medium
- ✓Hosts in Santa Clara should consider emphasizing proximity to Levi’s Stadium in their listings, focusing on 'mission-critical' amenities like parking.Effort: lowImpact: medium
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