Hospitality Stays Healthy
Southern Nevada’s hospitality market fundamentals continued to show improvement in 2019, but hospitality property sales lagged.
>> Las Vegas room occupancy remained healthy in the third quarter of 2019
>> ADR and RevPAR were up on a year-over-year basis
>> Hospitality sales were light compared to 2018
Visitor volume in the first seven months of 2019 was 24.8 million people. This represented 0.6 percent year-over-year growth. Growth (year-over-year) was 0.5 percent in room occupancy, 3.9 percent in the Average Daily Room Rate (ADR) and 4.6 percent in Revenue Per Available Room (RevPAR). Year-over-year, gaming revenue growth was 0.3 percent in Clark County, negative 1.0 on the Las Vegas “Strip”, 5.3 percent Downtown and negative 0.6 percent on the Boulder Strip.
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