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When the San Diego Chargers opted to leave the city, they not only broke the hearts of longtime fans, but they also put a damper on San Diego's hotel market.
Of the two NFL franchise relocations that occurred in the last two years, San Diego's hotel market was the most affected, according to a report released by STR's Consulting & Analytics team.
San Diego reported an 8.9% decrease in occupancy and a 7.1% drop in average daily rate when comparing the night before and night of 2016 home regular-season games with the corresponding days in 2017. STR concluded that the Chargers moving to Los Angeles resulted in a 15.4% decline in revenue per available room. When excluding the final home game of 2016, which fell on New Year’s weekend, the overall RevPAR decline year over year was 19.5%.
“What makes the San Diego analysis a bit complex is the fact that the market’s weekend was in general down in 2017,” STR Senior Analytics Manager Raquel Ortiz said. “The average RevPAR for all weekends in 2016 was $131, but that dropped to $127 this past year.”
Using the same type of comparison for 2015 and 2016, St. Louis showed a 0.2% increase in RevPAR in the year after the Rams moved to Los Angeles. Occupancy fell 1.1% from home game days in 2015, but ADR increased 1.3%. Additionally, average weekend RevPAR for the full year increased $2, from $85 in 2015 to $87 during 2016.
“The next move is the Raiders from Oakland to Las Vegas in 2020, and many believe each of those markets will see a significant impact from the relocation,” Ortiz said.
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