Las Vegas continued its comeback in May as the number of visits increased by double digits from the previous month.
Southern Nevada footfall, hotel room occupancy and rates, revenue per available room and number of nights occupied all increased from April to May, the Las Vegas Convention and Visitors Authority said on Wednesday.
Las Vegas welcomed nearly 2.9 million visitors in May, up 11.8% from April but still down 22% from May 2019. Visits to Las Vegas increased by 1,802% from last May to last May, bearing in mind that Nevada’s tourist economy came to a halt last spring. due to COVID-19 mitigation efforts.
More than 3.5 million passengers passed through McCarran International Airport during the month. Traffic on the major highways in southern Nevada averaged about 137,000 vehicles per day.
Hotel occupancy also continued its steady advance in May to pre-pandemic levels with an occupancy rate of 70.9% in the month, up 5.3 percentage points from the rate. of 65.6% of April.
Weekend occupancy remained the main driver in May, while midweek occupancy, mainly attributable to conventions and meetings, lagged behind. The May weekend occupancy rate of 87.8% is within nine percentage points of May 2019 levels, the authority said.
Midweek occupancy fell from 57.9% in April to 62.8% in May, still 25.3 percentage points lower than midweek occupancy in May 2019. June was the first months without size or capacity restrictions for conventions and large meetings since the pandemic reached Nevada.
The average daily room rate in May was $ 126.69 – $ 132.69 for a room on the Strip and $ 93.79 for a downtown room, according to the Visitors Authority. While the average room rate on the Strip was 12.4% lower than in May 2019, the average downtown room in May was 21.6% more than it would have. two years ago.
Las Vegas hotels made $ 89.82 in revenue per available room, 25.2% more than in April. They would need an increase of about 30% to match the $ 127.59 per available room they earned two years ago. And overnight stays in May totaled 3,223,900 compared to 2,888,000 in April.
For the second financial quarter to date, compared to the same period two years ago, “we calculate the LV Strip RevPAR is down 37%, with occupancy down 25% and ADR down 16%, “Joseph Greff, games analyst at JP Morgan, said in a note Wednesday.