- The LVCVA released a report that showed continued drops in the most important tourism indicators for October.
- This October saw Las Vegas host approximately half the number of visitors it had in 2019.
- However, the visitor volume was higher than that of September.
- Experts haven’t predicted how the numbers will be in November, but Sisolak’s order to reduce resort capacity and the relocation of the National Finals Rodeo in December could result in continued slumps.
In October, Las Vegas hosted approximately half the number of visitors it had in 2019, but 9% more than it had a month earlier.
On Tuesday, the Las Vegas Convention and Visitors Authority reported continued drops in the most important tourism indicators for the month, the eighth consecutive month of declines.
However, the decline percentages have shown gradual improvement over the months, with visitation down 97% in April, but off 49.4% in October.
Experts have not yet predicted how November numbers will fare, with Gov. Steve Sisolak ordering resorts to host up to 25% capacity, down from 50%. December is also unpromising after Las Vegas’ biggest event of the year, the 10-day National Finals Rodeo, relocated to Arlington, Texas this year. Sponsors say the event will return next year.
“With continued hotel reopenings at the end of September and early October, the room tally of open properties in October represented 140,658 rooms,” said director of research for the LVCVA, Kevin Bagger. “Total occupancy was 46.9 percent for the month as weekend occupancy reached 64.2 percent, and midweek occupancy reached 38.6 percent.”
Joe Greff, a gaming analyst with New York-based J.P. Morgan, said the lack of conventions and the low fly-in market resulting from the reluctance of people to travel by air continues to hinder business in Las Vegas. In a note to investors, Greff said the drive market improved in October.
He said the average daily auto traffic for October was up 3.6% as compared to the same time last year on all major highways and rose 7.3% “year over year on Interstate 15 at the Nevada-California border.” Greff added that, however, “total air passengers remain pressured.” He said the number was down 59% year over year to 1.98 travelers.
Another thing that dropped from September and from October 2019 was the average room rate. The LVCVA reported the rate at between $104.54 and $111.54 on the Strip and $68.21 in downtown Las Vegas. The rate was off 3.3% from September but 22.8% from a year ago.
Visitor volume for the first 10 months of this year (and every other category) dropped dramatically from 2019. As of October, the number of visitors to Las Vegas stood at 16.3 million compared with the 35.5 million people the city received for the first 10 months of 2019, a 54.2% decline.
Visitor volume in October only increased by 0.5% to 110,900 from September. However, the volume is down 24.5% when compared with last year.
Convention attendance fell 69.6%, with 1.7 million visitors attending shows in the first three months of 2020. Last year’s 10-month total was 5.7 million.