The Las Vegas Convention and Visitors Authority (LVCVA) has released its summary of tourism indicators for December and 2017. It would be fair to say that the fourth quarter was not great for Southern Nevada. While there were a few highlights compared to the same month a year ago – a 16.1% jump in convention attendance, gains in air traffic and a slight increase in the average daily rate for rooms – most statistics saw losses in December.
The picture for 2017 is more mixed. Visitation was down 1.7% compared to 2016, as were room nights. Occupancy was also down slightly. However, these are partially issues of capacity – room inventory was also down as properties invested in renovations and upgrades. Of course, the October 1 tragedy was another significant factor. Convention attendance was up by more than 5 percent, and with convention center expansions and upgrades coming online over the next few yers, that growth is likely to continue.
The average daily rate and revenue per available room both posted healthy gains, even with visitation down we’re getting more economic impact from each visitor. Air and auto traffic posted small gains. Also, as we’ve noted for some time in gaming stats, Downtown is a real success story, seeing the most growth and proving resilient even as other areas have seen more volatility. Full chart below: