Today, we’re diving into one of the questions we get every single year, without fail. If you’re in the lucky city hosting the Super Bowl, how much can you charge for your Airbnb listing?
Well, keep your pants on Minnesota; we’ve got you covered. We’re about to explain to you how much you can charge for your swanky pad, how long of a stay you can expect, and why you haven’t been booked yet.
First, let us just say that it is a GREAT IDEA to list your space for Super Bowl. It’s an incredibly rare and fun event and you can make some money off opening your home to fellow NFL fans.
But, let us throw a couple of caveats about Super Bowl at you before we answer the most commonly asked questions below.
Caveat A: Tons of Listings.
That’s the number of listings that are activated in the average city leading up to the Super Bowl: THOUSANDS. The bigger the city, the more listings that are activated. It’s not Airbnb’s fault either. It’s the residents who read articles about making thousands of dollars over a weekend hosting on Airbnb. So, you’re going to have a bit of competition.
Caveat B: Tourist Town.
If your town is a city that enjoys a rather healthy travel season, say NYC, then guess what… there are literally tens of thousands of hotel rooms available in your city. The Super Bowl happens in February, which is the slow travel season for nearly every major US city. So, hey, there’s a bit more competition for ya!
How Much Should I Charge?
Starting with the juiciest question, the answer is… surprisingly not as much as you might think. You’ve probably heard stories of hosts charging $2,000 a night for a two-bedroom. This is absolutely not the norm.
In general, we’ve seen listings get booked for three to five times their normal nightly rate during this time of year.
Let’s use Minneapolis as an example since the Super Bowl is there this year. The Super Bowl is on February 4th, meaning that Super Bowl weekend is Thursday, February 1st through Monday, February 5th.
If I plan on listing a 2-bedroom condo for SB weekend, what I should do is check the average going rate of 2-bedroom condos a couple of weekends after SB (Feb 8th – 12th or Feb 15th – 19th for example). Performing a quick search for that, I see that 2-bedroom condos are going for about $100 / night (see image below).
For Super Bowl, if I want to definitely get booked in the Twin Cities, I want to fall somewhere between 3 and 5 times that average, or between $300 and $500 per night. You can start high and come down if you don’t get booked.
Here’s a screenshot of the 2-bedroom homes in Minneapolis two-weeks before Super Bowl 52. You can see that most of the listing prices fall in that range.
Now, you’ll notice something about the listings in this last photo. They are almost all new listings. See, there are a couple of factors that can allow me to charge much more than that 3 to 5 ratio, and I’ll still get booked. They include things like:
- Location: How close are you to the stadium where the game is being played? Or maybe you’re close to the central district where people party in your city? Being within walking distance of either of these can justify a premium price. If you’re a few blocks from the stadium, go ahead and try 7 to 8 times your normal price and see if there are takers.
- Already a Great Host: If you already have a bunch of great reviews on your listing or are already a Super Host, then you can charge a bit more for your listing. Per usual, Airbnb guests pay more for something they can trust.
- Location AND Experience: If you have both great reviews as a host AND you’re incredibly close to the prime location, why not shoot for 8 to 10 times your normal price. Again, you can always move your price down over time.
When Will I Get Booked?
Most people will start booking listings 1 to 2 weeks before the Super Bowl. Why? Because until two-weeks before, no one even knows who’s going to the Super Bowl. The NFL has to split the tickets between all the teams, with the teams in the game taking 35% of them. Those teams then have to sell those tickets, raffle them, gift them, etc, until their all gone.
So, even if you’re a week and a half out from the Super Bowl, it’s not too late to get booked. You just need to get started immediately.
Why Am I Not Getting Booked?
Possibility 1: You’re Not Allowing Enough Guests
Let’s say you’re charging $500/night for a two-bedroom, but you’re limiting that to two guests. That listing costs $250/night/person. But, if you allowed 6 guests, the listing becomes a lot more affordable for everyone. They would be more likely to book.
If you are OK with fitting more people into a small space, then you can charge a bit more, while still making the space more affordable for each person. Guests are willing to squeeze in a bit more during Super Bowl, so pull out the air mattresses, couch beds, and hammocks.
Possibility 2: You’re Not Evoking Trust
If you’re a new listing, you don’t have the benefit of guest reviews vouching for how amazing of a person you are. In lew of that, you need to evoke trust in your listing. Make sure your descriptions are clear and concise, your photos are great, and your price is competitive. Beyond that, be responsive to the potential questions guests might have. Being responsive can go a long way.
Possibility 3: Not Enough Calendar Availability
For most people, going to the Super Bowl is a once-in-a-lifetime experience. They’re not going to fly in on Saturday night and leave early Monday morning. Only Beyoncé does that. The average guest is going to maximize their experience and see the town a bit. If your calendar is only allowing a two-day or three-day booking, you’re going to end up in fewer searches.
We have a full write up about these factors here, which you can read up on. But the point is: make your place available for 4 to 5 days. This gives you the maximum number of booking options.
That’s all for now. But, if you have more questions, post them in the comments.
P.S. Sorry to the Minnesota fans for not having your home team in the big game. Hopefully making a couple grand on Airbnb can pull you out of the depression.