The Great Pause – Continued
- Las Vegas resorts, hotels and motels suspended operations for most of the second quarter
- Re-openings began in June, with more properties opening than was initially predicted
- No sales occurred in the second quarter of 2020
With data from May 2020 available from the Las Vegas Convention & Visitors Authority, we can see clearly the impact an industry shut down has on those industry’s statistics. Room occupancy, average daily rate (ADR) and revenue per available room (RevPAR) collapsed in April and May 2020, reaching levels possibly not seen in Southern Nevada’s history. After significant investment sales over the past two quarters, no hospitality properties sold in the second quarter of 2020.
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