Super Bowl - February 12, 2023
We are less than a year from hosting Super Bowl LVII in Glendale, Arizona at the Cardinal Stadium! What does this mean for short-term rentals in the valley? Let’s hope that it means hosts can recover some of the losses experienced two years in a row due to COVID-19, only to be followed up with the MLB lockout of 2022. I am often asked about what can be expected in areas that are not near Glendale, such as Chandler, Mesa, Scottsdale, Surprise, Goodyear, and so on. My answer is this: not everyone can afford $5,000 tickets to attend the game, but people will come to the valley to be in the area where the game is being played. All cities will capitalize on this and events will be held within a 20 mile radius, likely the entire week prior to the actual game.
What about pricing? How should I price my short-term rental for such an event? I highly recommend using dynamic pricing software, such as PriceLabs, Wheelhouse, or Bouy, which automates the process by going out and determining the market demand and pricing your unit accordingly. I also recommend not booking out too far ahead, as the demand will change as places begin to get booked. Prices should be anywhere from 3-5x your standard Nightly Rate during this incredible event, depending on your proximity to the stadium and nightlife, type of home, and other factors. Better yet, let us at WISH STR take the burden of this off your shoulders and do the work for you!