Latest news with #LVCVA
Yahoo
3 days ago
- Business
- Yahoo
Las Vegas may still dazzle, but its sparkle is coming at a steeper price
Las Vegas — The "Welcome to Fabulous Las Vegas" sign is usually the first stop for millions of tourists. But the line to snap a photo is noticeably shorter this spring as inflation, which has brought on higher prices for visitors, has hit "Sin City" hard. "We were here last year, almost exactly the same time," John Fischer, who is visiting from the United Kingdom, told CBS News. "And it was probably 20% more [expensive] this year." U.K. tourist Stuart Woodfall said he was surprised to pay $9 for a coffee. "In the U.K., we pay 4 pounds, 5 pounds for a coffee? So yeah, crazy," Woodfall said. Those higher prices haven't stopped convention traffic, but casual trips are down. The Las Vegas Convention and Visitors Authority said 3.39 million people visited in March, down 7.8% from the same time last year. April saw a 5.1% drop in visitors from April 2024. Hotel occupancy also slipped, as the average nightly rate on the Las Vegas Strip reached $203 in April, the LVCVA said, up from $194 at the same time last year. The hotel occupancy rate rate in April was 84.5%, down slightly from 85.5% in April of 2024. "I think what's driving that largely now is just a drop in consumer confidence," Steve Hill, CEO and president of the LVCVA, told CBS News. Hill says big resorts can absorb a few empty rooms if the price is right. "The philosophy in Las Vegas prior to the pandemic was, at any cost, fill a room," Hill said. "Now, that has moderated somewhat. And so there is a balance point that they have found that is actually a little bit below the occupancy that we saw at a peak, which was about 88% in 2019. They're comfortable in that 85% range at a little higher price." Another sore spot is that Las Vegas is seeing fewer international visitors, Hill explains. They are the ones who generally tend to stay longer and spend more. "It's an investment in a trip, and we're typically a bucket list," Hill said. "They want to come here, spend more days, really enjoy the experiences that are here. And so when we lose them, we're losing a very valuable customer." Tourists who do roll the dice in Vegas are currently dealing with heavy vehicle traffic. Months of construction and road closures for special events can turn a 10-minute ride into a crawl on the Strip. "We've had so many customers say, 'We're never coming back to this city, you can't get anywhere,'" said Will Tryon, co-owner of Adventure Photo Tours, which he operates with his wife Donna Tryon. Their company does tours in the surrounding region, including the Grand Canyon, Area 51, Zion National Park and Death Valley. The couple said higher fuel and insurance costs leave little room to cut prices. Some tours priced at $75 before the COVID-19 pandemic are now $109. "The economy, the money, they don't have the money to spend," Donna told CBS News. "And the fact is that Las Vegas is no longer a bargain vacation." Even so, plenty of visitors are still shelling out for hot tickets like Dead & Company's residency at the Sphere this spring, and Beyoncé's Cowboy Carter Tour, which is coming to Allegiant Stadium in July. "It's like, you can go for the fancy experience, but then you can find a place that's a pretty good price," said Marc Kutzin, who is visiting from New York. The summer calendar is full of concerts, festivals and sporting events, and Hill believes the city will be resilient. "Las Vegas is gonna respond to this," Hill said. "We are going to have a great summer." California track and field final begins with new rules for transgender athletes Reporter's Notebook: Words of wisdom from college graduation speeches How a toddler's brave walk into the darkness to get help inspired his family
CBS News
3 days ago
- Business
- CBS News
Las Vegas may still dazzle, but its sparkle is coming at a steeper price: "No longer a bargain vacation"
Las Vegas — The "Welcome to Fabulous Las Vegas" sign is usually the first stop for millions of tourists. But the line to snap a photo is noticeably shorter this spring as inflation, which has brought on higher prices for visitors, has hit "Sin City" hard. "We were here last year, almost exactly the same time," John Fischer, who is visiting from the United Kingdom, told CBS News. "And it was probably 20% more [expensive] this year." U.K. tourist Stuart Woodfall said he was surprised to pay $9 for a coffee. "In the U.K., we pay 4 pounds, 5 pounds for a coffee? So yeah, crazy," Woodfall said. Those higher prices haven't stopped convention traffic, but casual trips are down. The Las Vegas Convention and Visitors Authority said 3.39 million people visited in March, down 7.8% from the same time last year. April saw a 5.1% drop in visitors from April 2024. Hotel occupancy also slipped, as the average nightly rate on the Las Vegas Strip reached $203 in April, the LVCVA said, up from $194 at the same time last year. The hotel occupancy rate rate in April was 84.5%, down slightly from 85.5% in April of 2024. "I think what's driving that largely now is just a drop in consumer confidence," Steve Hill, CEO and president of the LVCVA, told CBS News. Hill says big resorts can absorb a few empty rooms if the price is right. "The philosophy in Las Vegas prior to the pandemic was, at any cost, fill a room," Hill said. "Now, that has moderated somewhat. And so there is a balance point that they have found that is actually a little bit below the occupancy that we saw at a peak, which was about 88% in 2019. They're comfortable in that 85% range at a little higher price." Another sore spot is that Las Vegas is seeing fewer international visitors, Hill explains. They are the ones who generally tend to stay longer and spend more. "It's an investment in a trip, and we're typically a bucket list," Hill said. "They want to come here, spend more days, really enjoy the experiences that are here. And so when we lose them, we're losing a very valuable customer." Tourists who do roll the dice in Vegas are currently dealing with heavy vehicle traffic. Months of construction and road closures for special events can turn a 10-minute ride into a crawl on the Strip. "We've had so many customers say, 'We're never coming back to this city, you can't get anywhere,'" said Will Tryon, co-owner of Adventure Photo Tours, which he operates with his wife Donna Tryon. Their company does tours in the surrounding region, including the Grand Canyon, Area 51, Zion National Park and Death Valley. The couple said higher fuel and insurance costs leave little room to cut prices. Some tours priced at $75 before the COVID-19 pandemic are now $109. "The economy, the money, they don't have the money to spend," Donna told CBS News. "And the fact is that Las Vegas is no longer a bargain vacation." Even so, plenty of visitors are still shelling out for hot tickets like Dead & Company's residency at the Sphere this spring, and Beyoncé's Cowboy Carter Tour, which is coming to Allegiant Stadium in July. "It's like, you can go for the fancy experience, but then you can find a place that's a pretty good price," said Marc Kutzin, who is visiting from New York. The summer calendar is full of concerts, festivals and sporting events, and Hill believes the city will be resilient. "Las Vegas is gonna respond to this," Hill said. "We are going to have a great summer."
Travel Weekly
6 days ago
- Business
- Travel Weekly
Survey finds that a record number of visitors were back for more
Paul Szydelko About 86% of visitors to Las Vegas in 2024 had been to the city before. That's a new high, according to the annual Las Vegas Visitor Profile released earlier this year, up significantly from prepandemic numbers. For example, in 2019, the last year before the pandemic, 76% were return visitors. Repeat visitors were more likely than first-time visitors to say they were visiting friends/relatives (20% vs. 9%), came to gamble (7% vs. 4%) or to attend a special event (5% vs. 3%). Most of those repeaters did not wait long in between their last visit and this one: 53% of repeat Las Vegas visitors said they had visited the city at least once over the past two years. The Las Vegas Convention and Visitors Authority, sponsors of the survey, and its hospitality partners were no doubt heartened to hear the overwhelming percentage of 2024 visitors who were interviewed said they were satisfied with the experience: 87% said that they were "very satisfied" with their visit, while 10% said they were "somewhat satisfied." Only 2% of visitors were dissatisfied with their visit. "We want our visitors to be thrilled with what we're doing, and that's what's going to cause them to keep coming back. So when we see those levels, it's comforting, but it takes a lot of work to keep it there," LVCVA Research Center director Kevin Bagger told the LVCVA board in a summary. Those only "somewhat satisfied" with their visits were concerned about the cost: 18% said their biggest complaint was that Las Vegas was too expensive, up from 17% in 2023 and 14% in 2022. Others said their trip was too short (13%) or had complaints about their hotel (8%). Seven percent said it was too crowded, another 7% said is is too hard to get around. About 6% complained about gambling, and 6% said that it was too hot. One finding that might be concerning to readers: Only about 4% of those polled said they used a travel advisor in planning their trip to Las Vegas. That's down pretty significantly from prepandemic levels (10% in 2019). About 300 monthly in-person interviews were conducted, and about 150 monthly surveys were conducted online. In total, 5,418 interviews were completed in 2024. Some other findings from the 50-page survey: • Millennials (ages 28 to 43) represented the biggest chunk of visitors at 46%, followed by Gen X (ages 44 to 59) at 38%. Gen Z visitors (ages 21 to 27) represented 7% of Las Vegas visitors in 2024. • More than half (52%) of all visitors made their way downtown, down from 58% in 2022 but still ahead of 42% in 2019. • About 59% said they planned their trip more than a month in advance, while 55% said they booked their accommodations more than a month in advance, both figures up from past results. • About 78% gambled during their stay, and the average trip gaming budget was $820.15, similar to last year but above 2019 to 2022 results. • Almost 78% of those who stayed in a hotel booked online (up from 52% in 2019). Fewer visitors booked by calling the property directly (13%) compared to last year (18%).
Yahoo
19-05-2025
- Business
- Yahoo
Las Vegas tourism sees 7.8% decline in visitors — Trump's gamble with policies may be why
Las Vegas is a popular destination for tourists, but visitors aren't flocking to the city in the numbers they once were. In March 2025, visitor volume was down by 7.8% from the same period last year, according to the Las Vegas Convention and Visitors Authority (LVCVA). Beyond falling visitor numbers, gaming revenue on the Strip, where many of the iconic hotels and Vegas experiences exist, was down 4.8%. Gaming revenue was up on the Boulder Strip and Downtown, but they rake in a fraction of the revenue that the Strip sees. Hotel occupancy in the city reached 82.9%, down from 85.3% last year, and the total room nights occupied was down by 6.1% year over year. On the face of it, a drop of 7.8% in the overall number of visitors to Vegas is a startling reality. The city's tourism-based economy relies heavily on the dollars that out-of-towners spend in their hotels, restaurants, bars, casinos, and more. Although the city is experiencing a drop in overall visitors, not all forms of foot traffic are down. Surprisingly, convention attendance is up by 10%. The spike in convention attendance is due in large part to a recent health care conference, which brought a massive number of attendees to the city. But since this conference rotates locations each year, Vegas likely won't enjoy this conference-related bump to the economy next year. It's clear that visitor traffic is down in Las Vegas, and there appear to be multiple contributing factors. The LVCVA report cited 'a slightly less‐packed event calendar and as‐yet unclear impacts of evolving federal policies rippling through international and domestic markets.' The Trump administration's tariff and immigration policies are unpopular around the world. International visits to the U.S. fell approximately 14% in March from the same period last year, according to government data cited by the U.S. Travel Association in April. It added that 'domestic travel has held relatively steady so far in 2025 — but early signs suggest this momentum may not last.' Many visitors may be choosing to skip a Vegas vacation due to cooling feelings toward the U.S. Last year, the city drew five million international visitors, and more than half were from Canada and Mexico, according to the LVCVA. U.S. relations with both countries have been tense lately. Americans may also be nervous about the economy and spending. A recent Bankrate survey found that only 46% of U.S. adults plan to travel domestically or internationally this summer, down from 53% last year. Sixty-five percent of the non-traveler group said it's because they can't afford it, even though travel costs are actually down compared to this time last year, per Nerdwallet. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
02-05-2025
- Business
- Yahoo
Trump slump hits Las Vegas as tourist numbers drop
Visitors to Las Vegas have dropped by almost eight per cent, according to a new report by the Las Vegas Convention and Visitors Authority (LVCVA). The Nevada city welcomed 3.39 million visitors in March, compared with 3.68 million in February, a fall of 7.8 per cent. Midweek hotel occupancy was also down 2.4 per cent, with hotel rooms 82.9 per cent full in March, compared with 85.3 per cent in March 2024, despite more than half a million people attending conferences in the city. On weekends, hotel occupancy was down by one per cent. Casinos in Sin City also reported an almost five per cent drop over the past year, a figure that stands at 1.1 per cent statewide. The report, which was shared with local news media 8 News Now, revealed that despite the slump, hotel rates on the Las Vegas Strip have risen by 3.9 per cent compared to the same period in 2024. Data reported by the Clark County Department of Aviation also found a 3. 9 per cent drop in the number of passengers arriving and departing from Harry Reid International Airport. Elsewhere, vehicle counts at the Nevada-California border on I-15 show a fall of 3.1 per cent in traffic, according to the LVCVA. The Independent has contacted LVCVA for comment. The figures form part of the 'Trump slump', which has seen many international travellers eschewing the US due to fears of deportation following several high profile cases, including German backpackers Charlotte Pohl and Maria Lepère, Rebecca Burke from Wales and Lucas Sielaff from Germany Discomfort with President Trump's public proclamations and policies, including the introduction of tariffs, also appears to have impacted visitor numbers. Official data from the US International Trade Administration shows a 17 per cent year-on-year decline in the number of western Europeans visiting the US in March 2025. For travellers from Germany and Ireland, this slump is over a quarter.
