Las Vegas Hotel Occupancy And Tourism Hits Record Levels During July
Las Vegas hotel occupancy and tourism was at record levels during July 2007. Not even the extreme heat could stop the Las Vegas visitors.
A historically weaker month of the year for visitors, there was a slight surge from July 2006, with a reduction of 33 percent in conventions in Las Vegas, Nevada real estate.
The hotel occupancy rate in Las Vegas was a record setting 92 percent with 3.4 million in visitors.
The Las Vegas Convention Authority and other area promoters have promoted Southern Nevada heavily during this time. The area has grown to more than gaming including new resorts, five star restaurants and incredible night clubs.
Almost twenty years ago, during the same time of the year, the hotel occupancy was at mid 70 percent range with two thirds less in hotel rooms.
An average of 13 percent increase for the median daily room rate for the month was at $118. The year to date hotel rate is up to $135, more than a 13 percent rise.
Gaming revenue was generous in July up 13 percent to $965 million with a year to date total of $6.4 billion. For the last 10 years downtown Las Vegas revenue was in a slump, but during the month received $54 million, or a 10 percent increase.
Two major conventions, The World Market Center’s summer market and Herbalife, changed the attendance figures. This year The World Market Center ended in August this year with 50,000 attendees. This will change the those visitors to next month. The 13,500 attendees for Herbalife for this years convention was at another state’s venue.
Both Mesquite and Laughlin has mixed reviews for their gambling markets.
Mesquite had a positive 9.1 percent increase of visitors in July to 138,000 and is slightly up for the year to 960,000. Laughlin, NV visitation numbers were down to 275,000, 6.6 percent decrease, for July and an almost 9 percent decrease to 1.9 million year to date.
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Las Vegas hotel occupancy and tourism hits record levels during July.