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Tuesday, November 29, 2022

Las Vegas October 2022: Visitor Traffic Down Just 0.8% Compared to 2019; Convention Traffic UP

by Calculated Risk on 11/29/2022 06:34:00 PM

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

From the Las Vegas Visitor Authority: October 2022 Las Vegas Visitor Statistics

With an improving conventions segment combined with several events including the dual weekend When We Were Young music festival, two Raiders home games and the NASCAR South Point 400 race, the month saw the destination host over 3.6M visitors, nearly matching the tally of October 2019.

Reaching the highest level since November 2019, overall hotel occupancy reached 87.7% (+6.1 pts YoY and down ‐2.3 pts vs. October 2019). Weekend occupancy reached 94.0%, a level not seen since the 94.8% figure of February 2020, the month immediately preceding the COVID shutdown, while Midweek occupancy reached 85.1%, the highest figure since October 2019's 87.1% tally.

Strong demand during the month supported by major events and conventions shattered the monthly record for ADR as avg. daily room rates approached $210, +20.8% YoY and +55.1% ahead of October 2019 while RevPAR surpassed $184 for the month, +29.9% YoY and +51.1% over October 2019
Las Vegas Visitor Traffic Click on graph for larger image.

The first graph shows visitor traffic for 2019 (dark blue), 2020 (light blue), 2021 (yellow) and 2022 (red)

Visitor traffic was down 0.8% compared to the same month in 2019.

Visitor traffic was up 7.3% compared to last October.

The second graph shows convention traffic.

Las Vegas Visitor Traffic
Convention traffic was UP 19.6% compared to October 2019.

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