LAS VEGAS (KLAS) — Las Vegas resorts had a robust December as conference enterprise surged, serving to to deliver up lodge occupancy.
The Las Vegas Conference and Guests Authority experiences that conference attendance was up 42.7% over December 2023, and occupancy reached 81.9%, a 2.0% enhance in comparison with a 12 months in the past.
Room charges on the Strip reached a median $206.58 for the month, a 6.6% enhance over final 12 months. Total, charges averaged $193.68, with downtown rooms going for $104.42. Charges didn’t fluctuate to the extremes that Tremendous Bowl LVIII (February 2023) the F1 Las Vegas Grand Prix (November 2023) introduced in 2023, proven by the road graph beneath for common every day price (ADR). The bar graphs present ranges for 2024.
And whereas Nevada casinos and Harry Reid Worldwide Airport set information in 2024, visitation numbers didn’t rise to a report.
Closing 2024, LVCVA reported an estimated 41,676,300 guests for the 12 months, a 2.1% enhance over 2023 (40.8 million). It was the Sixth-highest visitation complete on report, wanting 2016’s report 42.9 guests, officers stated.
LAST MONTH: Customer numbers up, however F1 skews comparisons of Las Vegas lodge charges, income
In December, an estimated 3.4 million folks visited, an enchancment of 0.2% over December 2023.
And despite the fact that the Strip was down about 4,000 lodge rooms with the October implosion of the Tropicana and the short-term shuttering of The Mirage in July because it rebrands underneath Laborious Rock Worldwide, resorts elevated their income from the rooms that had been accessible.
RevPAR (income per accessible room) was up on the Strip and downtown. Total, RevPAR averaged $158.62, 6.3% increased than December 2023. On the Strip, RevPAR reached $176.21, 6.6% increased. Downtown it was $70.07, up 2.2%.
LVCVA officers famous the rise in conference attendance, an essential consider filling midweek lodge rooms. Conference guests totaled about 6 million in 2024.
