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Hotels are discounting aggressively. The New York Hilton Midtown, for example, has halved rates to $415 per night. Yet many affluent fans are waiting to see matchups or whether their teams advance before committing to travel, according to luxury sports travel company Roadtrips.

Several fans are skipping the World Cup entirely. “Friends of mine are heading to Ibiza or Vegas to watch every match on TV for a fraction of the cost,” said Andy Milne, England superfan and author of That World Cup Guy.

Visa requirements and high ticket costs have also deterred visitors. Fans from over half the qualified countries need US visas, adding expense and uncertainty. FIFA introduced record-high ticket prices and dynamic pricing that increased costs as the tournament neared. Base prices in cities like New York and Miami now approach $1,000, and uncapped resale pricing has drawn criticism.

However, vacation rentals offer a rare bright spot. Airbnb told investors in May that the World Cup is on track to be its largest event ever. Budget and economy rentals are seeing strong demand in host cities, with average daily rates currently at $335, up from $218 earlier. “There is way more leisure demand in all these cities because of the World Cup. That is unmistakable,” said Jamie Lane, AirDNA’s chief economist.