According to data and analysis from STR, the
hotel industry in Phoenix, Arizona, saw a US$25.9 million revenue
increase during NCAA Final Four Weekend.
That spike in rooms revenue topped the increases
seen by each of the previous five NCAA Final Four host markets.
For the purpose of its analysis, STR compared
the Friday through Monday of the past six championship weekends
with the baseline average of every other weekend in the host
market for the prior year.
On average, the previous five
Final Four host markets saw a revenue increase of US$19.5 million
during the four-day period, or an average of US$4.9 million per
The rooms revenue increase in Phoenix was the highest of any
of the host markets included in the analysis with an average per
day of US$6.5 million.
In absolute values, Phoenix
reported more than US$45 million in rooms revenue during the Final
Four. That ranked second to Forth Worth/Arlington/Dallas, Texas,
with almost US$47 million in 2014.
Hotel demand for the weekend in Phoenix rose 31% using the
same comparison. That was below the average of the previous five
hosts (37%) and well below the highest demand increase of any of
the host markets (New Orleans: 45% in 2012).
occupancy rose 29% to 83.9% over the four-day period, while
ADR was up 76% to US$212.08. As a result,
RevPAR jumped 127% to US$177.90. The RevPAR increase ranked third
among previous NCAA Final Four hosts after Indianapolis (+203%)
and New Orleans (+161%).
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