Las Vegas surpassed November 2023 visitation numbers in the second year it hosted an F1 race on the Strip, boosted by a gain in international travelers. It also recorded the second highest average daily room rates ever during the month, after setting the record last year.
There were 3.31 million visitors in November, a 0.6% increase over the 3.29 million in November 2023, according to the Las Vegas Convention and Visitors Authority. It cited the F1 race and the SEMA auto aftermarket trade show for the strong month.
For the year, visitation is running 2.2% higher than 2023 with 38.2 million, up from 37.4 million visitors through November.
The LVCVA released its visitor numbers ahead of the November gaming revenue numbers, which will be released next week.
Convention attendance for the month was down 8.4% year-over-year with 548,200 visitors, down from 598,400. The LVCVA cited a decrease in churn of mid-size and smaller meetings for the drop. For the year, the 5.71 million convention visitors are down 1.3% from 2023.
The strength during the month was weekend occupancy; at 89.1%, it was up 0.4 points over last year. Midweek occupancy at 76.9% was down two points. For the month, overall hotel occupancy was 81.4%, down a half-point. Strip occupancy was 84.3%, down from 85.2% a year ago. Downtown occupancy at 70.2% was well ahead of the 65.6% a year ago.
“While down compared to the record-shattering levels tied to last year’s inaugural F1 race, the monthly average daily rate was the second highest for the month of November at $199, while revenue per room came in at $162,” according to the LVCVA.
The average daily rate fell 20.3% from $249 in November 2023, while revenue per room came in 20.8% lower from $204.
Strip average daily rates were $212.49, down from $270.19, a decrease of 21%.
The Harry Reid International Airport handled 4.73 million people in November, down 2.1% from 4.83 million in November 2023. For the year, the airport passenger count is up 1.4%.
Two percent fewer people crossed the Nevada-California border on I-15 in November; that’s down 0.6% for the year. For the year counting all major highways, the average daily traffic is up 0.5%.
Airport passenger traffic was boosted by a 16.2% increase in international travelers in November, while domestic was down 3.3%. For the year, domestic travel is up 0.8%, while international travel at 3.3 million is up 13.6%.
