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Las Vegas May 2023: Visitor Traffic Up 1.5% YoY; Convention Traffic up 16% YoY


Note: I like using Las Vegas as a measure of recovery for both leisure (visitors) and business (conventions).

From the Las Vegas Visitor Authority: May 2023 Las Vegas Visitor Statistics
Supported by strong demand along with multiple weekend music festivals including the
Lovers & Friends festival, Sick New World festival and the recurring Electric Daisy
Carnival (EDC) event, Las Vegas hosted approx. 3.5M visitors, 1.5% ahead of last May.

Overall hotel occupancy reached 84.4% for the month (+1.8 pts YoY). Weekend
occupancy was healthy at 93.2%, +1.3 pts YoY, and Midweek occupancy approached
81%, surpassing last May by 2.0 pts.

Overall ADR exceeded $183, +4.3% from May 2022 while RevPAR neared $155,
+6.6% 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 down 5.2% compared to the same month in 2019.

Visitor traffic was up 1.5% compared to last May.

The second graph shows convention traffic.

Convention traffic was down 12.8% compared to May 2019, and up 16.1% compared to May 2022.

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

Inflation Adjusted House Prices 3.8% Below Peak; Price-to-rent index is 8.4% below recent peak

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