Las Vegas visitation rose 2.4% in August, boosted by a strong Labor Day weekend that straddled the end of the month. The Las Vegas Convention and Visitors Authority reported 3.39 million visitors in August, up from 3.1 million in August 2023. For the year, visitor numbers are up 3.1% to 27.1 million.
The LVCVA cited not only the Labor Day effect, but headliners and events during the month that included two pre-season Raider home games and Morgan Wallen concerts at Allegiant Stadium.
Harry Reid International Airport reported 4.8 million passengers, up 5.1% from August 2023. International visitors increased by 2.8% to nearly 300,000 passengers and year to date are 14.3%.
In terms of drive-in visitors, 130,663 vehicles crossed Nevada’s borders in August, up 2.7% year over year.
The visitation increase came despite convention attendance falling 1.4% year over year to 638,300. The month featured ASD Market Week, MAGIC, and DEF CON. For the year, the convention attendance is down 1.5%.
Overall hotel occupancy was 81.2% for the month, up 0.9 points. Midweek occupancy matched last year at 76.9% (down 0.1 points), while weekends reached 90.2% (up 0.4 points), supported by Labor Day weekend and the presence of the DEF CON convention during the second weekend of the month, the LVCVA noted.
Strip occupancy was 84.6%, up from 83.5% a year ago. Downtown occupancy was 65.3%, up from 62.2%.
The average daily room rate increased 11.7%, while revenue per available room rose 12.9%.
Joseph Greff, an analyst for J.P. Morgan, said that for the third quarter, visitor volume was up 0.9% year over year (down 4.9% versus third-quarter 2019), while convention attendance was down 23.1% versus the third quarter of 2019.
Also according to Greff, tor the third quarter to date, Strip revenue per room was up 4.6% year over year and 24.4% above third-quarter 2019 levels, while Strip daily room rates were up 5% year over year and 33.1% above third-quarter 2019.
Third-quarter occupancy on the Strip was down 595 basis points versus the third quarter of 2019. And room inventory in August was 150,679, down 0.8% from 2023 and 1.1% above 2019. It was down 1% (1,578 rooms) sequentially.
Occupied room nights were up 0.3% year over year, but 6.4% below 2019, Greff said.
