In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Saturday, May 30, 2020

Las Vegas Visitor Authority: "No Convention Attendance, Hotel Occupancy 1.7%" in April

by Calculated Risk on 5/30/2020 02:40:00 PM

From the Las Vegas Visitor Authority: April 2020 Las Vegas Visitor Statistics

With global travel restrictions and stay‐at‐home orders in place due to the COVID‐19 pandemic, Las Vegas visitation in April was a small fraction of normal levels (107k visitors), limited to est. stays with friends or relatives and/or those in non‐gaming properties that remained open for essential transient lodging.

No measurable convention attendance occurred during the month.

With the vast majority of the destination's hotel rooms temporarily unavailable to book, occupancy was 1.7% while the average day rates (ADR) among those properties that were open came in at approximately $60.
Here is the data from the Las Vegas Convention and Visitors Authority.

Las Vegas Click on graph for larger image.

The blue and red bars are monthly visitor traffic (left scale) for 2019 and 2020.   The dashed blue and orange lines are convention attendance (right scale). 

Convention traffic in April was down 100% compared to April 2019.

And visitor traffic was down 97% YoY.

The numbers for May will be very low too.