by Calculated Risk on 7/28/2022 03:18:00 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: May 2022 Las Vegas Visitor Statistics
Las Vegas saw another strong month of visitation in June as the destination hosted over
3.3M visitors, about 12% ahead of last June but approx. 8% behind June 2019.
With room inventory reflecting the net impacts of the openings of the Virgin Hotel Las Vegas
and Resorts World since the middle of last year, overall hotel occupancy reached 82.7%, 6.8
pts ahead of last June but down 9.0 pts vs. June 2019. Weekend occupancy welcomed a
fourth consecutive month at or above 90% and Midweek occupancy reached 80% for the
first time since February 2020 (up 9.1 pts YoY but down 9.7 pts vs. June 2019).
ADR approached $157, 22.7% ahead of last June and over 30% above June 2019 while
RevPAR neared $130 for the month, +33.7% YoY and +17.5% over June 2019.
The first graph shows visitor traffic for 2019 (dark blue), 2020 (light blue), 2021 (yellow) and 2022 (red)
Visitor traffic was down 7.8% compared to the same month in 2019.
Convention traffic was down 8.7% compared to June 2019.
Note: There was almost no convention traffic from April 2020 through May 2021.
Image and article originally from www.calculatedriskblog.com. Read the original article here.