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by Calculated Risk on 12/29/2022 02:00:00 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: November 2022 Las Vegas Visitor Statistics
October, November 2022 saw visitation of approx. 3.27M, about 5% ahead of last November
and -7% shy of November 2019 tallies, supported by a variety of events including the
Automotive After Market Week and the Raiders vs. Colts home game.
Overall hotel occupancy reached 81.2% (+3.6 pts YoY and down -7.0 pts vs. Nov 2019).
Weekend occupancy came in at 89.6% (-1.1 pts of last November and -4.5 pts below
November 2019), while Midweek occupancy reached 77.5%, up 5.6 pts vs. last November
but down -7.3 pts vs. November 2019’s tally.
The trend of strong room rates continued during the month as ADR approached $187, up
roughly 20% YoY and +38% ahead of November 2019 while RevPAR surpassed $151 for the
month, +25% YoY and +27% over November 2019.
Click on graph for larger image.
The first graph shows visitor traffic for 2019 (dark blue), 2020 (light blue), 2021 (yellow) and 2022 (red)
Visitor traffic was down 7.0% compared to the same month in 2019.
Convention traffic was down 3.4% compared to November 2019.
Note: There was almost no convention traffic from April 2020 through May 2021.
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