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More tourists visiting Strip, spending less
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LAS VEGAS REVIEW-JOURNAL
Las Vegas visitor counts are starting to show a pattern.
Tourist volume increased 1.9 percent through the first six months of the year. Through June, the average daily room rate is up 0.5 percent, the first time since December 2007 the figure has shown an increase on a year-over-year basis. However, while people are coming to the Strip, they're not spending as much as they once did.
The Las Vegas Convention and Visitors Authority released the monthly tourism numbers Thursday, and for the 10th straight month, visitor volume into Las Vegas has either increased or matched the prior year levels.
In Las Vegas, 3,106,965 visitors arrived during June, a 4.3 percent increase compared with 2,980,122 visitors in June 2009. For the first six months of the year, more than 18.5 million visitors came to Las Vegas.
However, convention attendance was down 1 percent in June and is off 4.1 percent for the year. Gaming revenues in Clark County were off 6.9 percent during June and less than 1 percent for the first six months of the year.
"Until we start seeing some positive indications on all the metrics that we use, we're hesitant to say that we are in a complete recovery," convention authority research manager Kris Tibbs said. "It's encouraging when you have 10 straight months of positive or flat visitor numbers. That's a good sign."
CB Richard Ellis analyst Jacob Oberman told the real estate firm's clients that convention attendance, while down year-to-date, is actually up by single-digit percentages when March, April and May's figures are combined.
A rebound in the stock market, cheaper rates, the opening of CityCenter's Aria and flooding in Nashville, Tenn., during the spring that caused some groups to switch meetings and trade shows to Las Vegas all helped to boost the Strip's convention numbers.
When reporting second-quarter earnings earlier this month, casino operators with large convention businesses, such as MGM Resorts International, said bookings have increased for the later part of 2010 and into 2011.
"The increased group demand for the back half of this year is undoubtedly positive as Las Vegas can fill more of its midweek rooms with stronger rates," Oberman said in a report co-authored with Brent Pirosch.
During June, citywide room occupancy was 82.1 percent with the average daily room rate at $89.54, which was 6 percent higher than a year ago.
The encouraging sign, according to Tibbs, was that occupancy remained relatively flat despite the city having some 7,500 more hotel rooms in June, compared with the same month a year ago.
Room occupancy was 80.3 percent for the first six months of the year, which is down 2.4 percent from the same six months of 2009.
However, occupancy continues to be significantly higher than the U.S. national average of 56.4 percent.
Airline travel into Las Vegas is down 3 percent through June, but the figure continues to be off-set by daily automobile traffic, which is up 2.9 percent through the first six months of the year.
Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871.
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Sharron Angle possibly feels as I do about drugs and alcohol. I'm not a drinker or a druggie. Alcohol is legal, and therefore, it is the most commonly abused substance. Innocent people are killed every single day because of people who are not responsible about their liquor. If marijuana ever becomes legal (not just for medical reasons), I can only imagine how many MORE potheads I will be running into on a daily basis in society. That is a very scary thought.
Back in 2006, Angle gave an interview to the now defunct Liberty Watch magazine. And that interview provides a little more insight into Angle’s conservatism.
Here’s the relevant passage, from a discussion about medical marijuana:
“My greatest problem with marijuana is that it’s illegal, which gives Nevadans a false sense of security in this whole thing,” Angle said. “If the DEA has the manpower and wanted to go after this, there is no place in Nevada state law that can protect people because federal law supersedes state law.”
Her opinion, though, ignores states’ rights and individual freedom. Also, Angle’s faith quickly surfaced, extinguishing her argument that she disapproves of medical marijuana primarily on the elementary premise that it’s illegal.
“I would tell you that I have the same feelings about legalizing marijuana, not medical marijuana, but just legalizing marijuana,” Angle offered. “I feel the same about legalizing alcohol.
“The effect on society is so great that I’m just not a real proponent of legalizing any drug or encouraging any drug abuse,” she continued. “I’m elected by the people to protect, and I think that law should protect.”
Wait, what? Alcohol — which is currently legal — should be treated the same as marijuana — which is currently not legal? Is she serious? A candidate from the state of Nevada, which is practically sponsored by booze companies, is not a proponent of legal alcohol?
Jack.Webb wrote on August 12, 2010 04:56 PM:
Angle wants to make alcohol illegal just like pot.
Jack, please let us all know what good drugs you're on!
Where do Truth Detector and Green Dragon Regular get their data?
@Jack.Webb-
Unfortunately, you're making $#!^ up about people making $#!^ up. The assessment of the average free-independent traveler driving in from California, Arizona, or Utah is accurate. They pack hotel rooms, dragging coolers and grocery bags in with them. The buffet lines are hours long (it's quite obvious these people have more time than money) and the coupons are flying. Many of the upscale venues with unique selling-propositions and good reputations are doing well because the well-monied visitors are still coming in and spending. It's the middle- to upper-middle class market that is thin right now, the "yuppies". They are being far more selective about where they vacation and are very put off by the wandering hordes pushing strollers and dragging coolers that are now the norm. If they weren't so uncertain about the financial future, hotels could increase their rates, squeeze down the budget travelers and make the city more attractive, once again, to people with means.
Richard Stain, you said doctors and nurses are saving their money. Don't tell me that that doctors and nurses are going to to lose so much money that I should feel sorry for them. They are still going to be working--not jobless like so many other people. They will ALWAYS be employed and they will always earn a "decent enough" salary. Maybe they need to cut back on their overall debts and downsize. They will still be alright.
Truth Detector sez: "revenues are down but visitors are up. TRANSLATION: The people who are visiting LV are the ones who can ill afford to come to LV, but do so anyway. They stuff 6 people in a cheap hotel room ($39/night) meant for (at most) 4 midgets. They call it a "Vegas Weekend" and bring in a cooler full of beer, liquor bought in their home town, and crash on sleeping bags. They eat at McDonalds and see no shows other than the free ones offered at Bill's Gamblin Hall. The ones who are the bedrock of LV gaming/nightlife are hoarding their money until that time they feel that wealth is safe."
TD is obviously
flat out makin' $#!+ up, just like Glenn Beck does most nights.
TD ends with this gem: "I'm just wild about Harry."
See what AM radio and Fox "News" does to peoples' minds?
Angle wants to make alcohol illegal just like pot.
How might that affect our economy?
It wouldn't be because room rates go up an average of 50% Thursday - Sunday would it? Spend enough money on a room, leaves you short on other areas to spend..simple economics...bring them in the door and they'll spend..
Disney, just upped their gate price. They said because of yearly adjuistments, but each time they have raised their rates, the gate had fallen off previously....mmm, as PT Barnum used to say....