LVCVA: October resort room rates blast past pre-pandemic levels

Hotel country rates successful October were two-thirds higher than they were a twelvemonth agone and astir a 3rd higher than they were successful October 2019, the Las Vegas Convention and Visitors Authority reported Tuesday.

The LVCVA said October saw an mean regular country complaint of $173.68, 11.5 percent much than successful September, 66.1 percent much than a twelvemonth agone and 28.3 percent much than successful October 2019.

Room rates were 1 of the fewer categories outperforming 2019 numbers. Other indicators that person caught up to pre-pandemic levels: gross per disposable room, mean regular postulation connected large highways, including Interstate 15 astatine the California border, and Clark County gaming win.

Tourism indicators for the period were higher than a twelvemonth agone successful each category.

The LVCVA said an estimated 3.39 cardinal radical visited Southern Nevada successful October, 82.6 percent much than successful October 2020 and 15.5 percent much than successful September, but 7.6 percent less than successful October 2019.

The summation was attributed to respective peculiar events and an uptick successful normal traffic. The Electric Daisy Carnival, oregon EDC, returned to the Las Vegas Motor Speedway for 3 nights, bringing an estimated 450,000 radical to the area.

Tyson Fury fought Deontay Wilder III for the WBC heavyweight rubric astatine T-Mobile Arena connected Oct. 9. The 52nd yearly World Series of Poker began astatine the Rio connected Oct. 29. Performers Gwen Stefani and Lady Gaga resumed their residencies astatine Planet Hollywood’s Zappos Theatre connected Oct. 22 and Park MGM’s Dolby Live theatre connected Oct. 14, respectively. The Raiders and the Golden Knights continued their seasons.

“With important events and an improving normal segment, October saw the strongest visitation of the pandemic epoch some connected weekends and midweek arsenic the destination welcomed astir 3.4 cardinal visitors,” said Kevin Bagger, vice president of the LVCVA probe center.

The LVCVA inactive hasn’t reported caput counts for conventions, awaiting authoritative numbers from amusement sponsors.

Occupancy rates were higher successful October than successful September and October 2020, but not arsenic precocious arsenic successful October 2019. Citywide occupancy was calculated astatine 81.6 percent successful October, with 90.4 percent connected weekends, 77.5 percent connected weekdays, 83.4 percent connected the Strip and 73.6 percent downtown.

“Weekend occupancy continues to outperform normal and group, skewing midweek; play occupancy for the period was 90.4 percent vs. weekday 77.5 percent — we enactment that midweek occupancy improved sequentially, coming successful adjacent the post-pandemic precocious astatine 77.5 percent (up 11.4 points period implicit month), portion play occupancy improved modestly to 90.4 percent (up 1.3 points period implicit month),” gaming manufacture expert Joe Greff of New York-based J.P. Morgan said successful a Tuesday study to investors.

“Relative to October 2019, play occupancy is lagging by astir 7.6 points portion midweek is 9.6 points lower,” helium said.

Tourism indicators were down successful astir categories successful Laughlin, which besides is monitored by the normal authority.

Visitor measurement was down 7 percent from a twelvemonth agone to 102,900. Occupancy fell 2.8 points from October 2019 to 48.1 percent, portion the mean regular country complaint was up 9.4 percent to $66.24.

Contact Richard N. Velotta astatine rvelotta@reviewjournal.com oregon 702-477-3893. Follow @RickVelotta connected Twitter.