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Las Vegas July 2023: Visitor Traffic Up 1.0% YoY; Convention Traffic Down 16.8% YoY

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From the Las Vegas Visitor Authority: July 2023 Las Vegas Visitor Statistics
With the highest July Occupancy since before the pandemic, Las Vegas visitation
surpassed 3.5M visitors, approximately 1% ahead of last July.

Overall hotel occupancy reached 85.2% for the month (+1.8 pts YoY) as Weekend
occupancy reaching 92.6% (+1.5 pts YoY), and Midweek occupancy reached 82.2%,
surpassing last July by 3.1 pts.

With YoY growth stabilizing after the dramatic postā€pandemic surges last year, ADR
reached $163, +1.7% YoY while RevPAR reached $139, +3.9% YoY.
Click on graph for larger image.

The first graph shows visitor traffic for 2019 (Black), 2020 (light blue), 2021 (purple), 2022 (orange), and 2023 (red).

Visitor traffic was up 1.0% compared to last July.

Visitor traffic was down 4.3% compared to the same month in 2019.

The second graph shows convention traffic.

Convention traffic was down 16.8% compared to July 2022, and down 45.8% compared to July 2019.

Note: There was almost no convention traffic from April 2020 through May 2021.

Inflation Adjusted House Prices 3.9% Below Peak; Price-to-rent index is 7.6% below recent peak

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