Las Vegas Visitor Numbers
I have the numbers ending February of this year (2025), and they look bad. I gleaned them from the Las Vegas Convention and Visitor Authority. Here they are, all in %. visitors -12%, conventions -20%, hotel occupancy – 3.4%, average daily room rate – 24%, Rev.PAR – 28%, Room nights occupied -11%. Those are shocking numbers. We are talking about a city that is used to steady growths in visitations and revenue. I can’t tell if this is going to be at rend, or if it just a fluke. Is it because of this shameless price gouging that is finally catching up with the casinos, or is it a bigger problem, politics perhaps.Speaking about price gouging. Here is an example: advertise a room at let’s say $50 per night. The customer arrives a the front desk and checks in, the desk clerk adds a $50 check in fee, a $25 pool fee, a $45 cabana fee and on and on. Those are not real numbers, I made them up, but they could be more or less, and that is what is going on and has been going on for some time now. I know Canadians are cancelling, but I don’t’ know if that is a large percentage of visitors. The real large group of customers are Germans, and they bring a lot of Euros. They are the folks with the money at the moment and I think we scared them off. Two German women who were transiting via Hawaii to another destination were thrown in jail and after two days in jail they were put on a plane and told to get out of the U.S. The German press was all over that one. Not a good way to treat visitors.