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Economic uncertainty and decline in international visitors cause steep occupancy decline in Vegas

lynnwinslow

lynnwinslow

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This seems to be evidence that the US can't run an entire economy based on catering to the top1%.


Las Vegas hotels are posting some of the steepest year-over-year performance declines among major U.S. markets this summer as international visitor weakness and economic uncertainty take a toll.
The deterioration continued into July, with the week ending July 5 showing Vegas with the worst declines across the top 25 U.S. markets: Occupancy fell 16.8%, to 66.7%, and revenue per available room (RevPAR) plunged 28.7%, to $102.75, according to STR.
 
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Resort fees and taxes. Total insanity. Consumers are no longer going to put up with this.
 
lynnwinslow said:
This seems to be evidence that the US can't run an entire economy based on catering to the top1%.


Las Vegas hotels are posting some of the steepest year-over-year performance declines among major U.S. markets this summer as international visitor weakness and economic uncertainty take a toll.
The deterioration continued into July, with the week ending July 5 showing Vegas with the worst declines across the top 25 U.S. markets: Occupancy fell 16.8%, to 66.7%, and revenue per available room (RevPAR) plunged 28.7%, to $102.75, according to STR.
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Uh, your link says
Preliminary STR data indicates Las Vegas occupancy fell 14.9% in June, which, if actualized, would mark the city's deepest monthly decline so far this year.
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More evidence that Trump is objectively one of the worst presidents in American history. I would love for anyone to explain the diplomatic strategy involved in saying that Canada should become the 51st state.

I've spoken to Canadians. I have relatives in Canada. They don't want to come here. Our closest ally is boycotting us and booing our national anthem. Trump's presidency is a disaster we may never fully recover from.
 
There's always a decline this time of year because conference season has ended. Vegas makes a lot of money on conferences. Saying its "economic uncertainty" is just narrative. Its a catch all term for media to use when they want something to be true.
 
How are these people losing money running casinos? Literally only Trump (and Canada) have ever done this.
 
TobyOne said:
There's always a decline this time of year because conference season has ended. Vegas makes a lot of money on conferences. Saying its "economic uncertainty" is just narrative. Its a catch all term for media to use when they want something to be true.
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You're denying reality

www.forbes.com

Canadian Tourism To U.S. Down 33% In June—Billions In Losses

Canadians are doubling down on their U.S. travel boycott—as Canada propels U.S. tourism declines to an expected overall economic loss of $29 billion in 2025.
www.forbes.com www.forbes.com

Canadian Visitors To U.S. Plummet 33% In June—Sixth Straight Month Of Steep Declines​

  • The volume of Canadians taking road trips into the U.S.—the means by which most Canadians visit—dropped by 33% last month compared to June 2024, according to new data from Statistics Canada, following a 38% drop in May.
  • There was also a 22% decline in air travelers from Canada year-over-year.June was the sixth consecutive month of steep declines in inbound Canadian travel, including double-digit year-over-year drops in car travel and air travel to the U.S. every month since April.
  • Travel in the other direction is also down, as fewer Americans traveled to Canada in June compared to last year, with car travel down 10% last month—down slightly from an 8% drop in May, per Statistics Canada data.
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The big casino's don't lose money. You can't look at Vegas and think its a city built by casinos losing money. They're just cutting costs like any normal business would. There's no loyalty from casinos to workers and vice versa.

The good news is that room rates are down. Get a nice room, spend $12 for an Evian water and drop some money at the tables.



Metric Mouse said:
How are these people losing money running casinos? Literally only Trump (and Canada) have ever done this.
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dmpi said:
Resort fees and taxes. Total insanity. Consumers are no longer going to put up with this.
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It's not just Las Vegas.

Price blamed the Trump administration’s policies against immigrants, particularly against student visa holders and hospital employees on work permits, who made up a large portion of Reserve Square’s tenants.

“It really is bizarre what happened,” Price said. “People in the building basically left overnight.”

In the last six months of 2024, some 400 tenants left. That took Reserve Square’s occupancy from 93% to below half, according to a statement from the company and Price.
 
TobyOne said:
There's always a decline this time of year because conference season has ended. Vegas makes a lot of money on conferences. Saying its "economic uncertainty" is just narrative. Its a catch all term for media to use when they want something to be true.
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The article contains year to year comparisons.
 
Good. People are better off not throwing their money away in a casino.
 
Deuce said:
Of course, resort fees being brand new this year.
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Resort fees started at $25 and now they're $45 and still going up.
 
dmpi said:
Resort fees started at $25 and now they're $45 and still going up.
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People aren't changing Las Vegas vacation plans over $20 and you don't believe that they are.

You're doing what you do in every single thread: deflecting.
 
dmpi said:
Resort fees started at $25 and now they're $45 and still going up.
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So you're saying the fewer tourists that visit, the higher they have to raise the fees. Makes sense.
 
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