LAS VEGAS (KLAS) — Seven months into recovering from the economic shutdown during the COVID-19 pandemic, Las Vegas is running at about half-speed.
In statistics released Tuesday by the Las Vegas Convention and Visitors Authority, visitor volume is just over 50 percent of what it was a year ago.
October 2020 visitors totaled 1,856,900, compared to October 2019’s 3,668,100 visitors.
Trends continued to improve in October, with a 9 percent increase over September’s visitor levels and total occupancy about the same.
LVCVA reports that revenue per available hotel room dropped slightly from September, down 3.1 percent. That measure is down almost 60 percent compared to last year.
Average daily room rates were $104.54. That’s 3.3 percent cheaper than September, and 22.8 percent cheaper than October 2019.
The across-the-board zeroes for convention business continue to weigh on the economy. News from the big resort companies — Caesars Entertainment, MGM Resorts, Wynn Resorts and Red Rock Resorts — all point to a strong return for conventions sometime around the summer of 2021.
Year-to-date comparisons continue to show the big economic hole Las Vegas is in — a hole it can’t climb out of running at half-speed. Visitor volume in 2019 reached 35.5 million by October, but this year it stands at 16.2 million.
For October, the number of available rooms was calculated at 140,658, down from last year’s level of 149,282. Total occupancy was 46.9 percent — 64.2 percent on weekends and 38.6 percent on weekdays.