Turnover at South Florida Stadium, the parent company of the Hard Rock Stadium, rocketed by 11 per cent in the 2015 fiscal year even though the venue operated with a lower capacity than in 2014.
The stadium hosts games featuring the Miami Dolphins NFL American football franchise and, in January 2015, started undergoing a $500m (£404m/€453m), three-year renovation project, which has led to the venue’s capacity falling from 75,000 to 65,000.
However, the latest figures suggest that the increasing popularity of the 72 Club hospitality section has led to an increase in stadium-related revenues, according to the Miami Herald newspaper.
Credit ratings agency Fitch said that the figures reflect “Hard Rock Stadium’s status as a premier venue in South Florida and host to the… Miami Dolphins, the core anchor tenant at the facility since 1987, and also the strong ownership commitment to the franchise and the stadium.”
Hard Rock replaced Sun Life as the stadium’s naming rights partner at the start of the 2016-17 NFL season in a deal worth $250m over 18 years.
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