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by Calculated Risk on 2/28/2023 03:00:00 PM
Note: I like using Las Vegas as a measure of recovery for both leisure (visitors) and business (conventions).
From the Las Vegas Visitor Authority: January 2023 Las Vegas Visitor Statistics
the citywide tradeshows of CES, World of Concrete, and the SHOT show, Las
Vegas hosted an estimated 3,275,000 visitors in January, well ahead of the
lingering pandemic-suppressed volumes of January 2022 and just -4% shy of
January 2019.
Overall hotel occupancy reached 79.1% for the month, +19.8 pts YoY and
down -4.9 pts vs. 2019. Weekend occupancy reached 88.4%, nearly matching
January 2019 levels (88.8%, -0.4 pts) while Midweek occupancy reached
75.2%, +23.2 pts vs. January 2022 but -6.9 pts vs. January 2019.
The ongoing trend of strong room rates continued in January as ADR
approached $192, +32% YoY and +22.4% ahead of January 2019 while RevPAR
exceeded $151, +76% YoY and +15.3% over 2019.
Click on graph for larger image.
The first graph shows visitor traffic for 2019 (Black), 2020 (light blue), 2021 (purple), 2022 (orange), and 2023 (red).
Visitor traffic was down 4.0% compared to the same month in 2019.
Convention traffic was down 24.9% compared to January 2019, but up 72.0% compared to January 2022.
Note: There was almost no convention traffic from April 2020 through May 2021.
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