LAS VEGAS (KLAS) — As Las Vegas kicks off another massive weekend of events, it looks like an uptick in tourism is driving prices upward for everyone.
It was easy to see Friday that the city was packed and as popular as ever as thousands of people head into town for events like Life is Beautiful.
“It’s really, really expensive,” one tourist told 8 News Now.
However, it turns out prices are also out of this world, as many complain about hotel rates that are hard to swallow.
“The prices went up crazy,” fellow tourist Francisco Aguayo said.
Vegas.com showed some shocking prices Friday, from approximately $331 per night at Circus Circus Hotel & Casino, to places like Wynn and Encore Las Vegas over $1,000.
“They raise when demand is high,” Jonathan Fine, owner of Fine Entertainment Management said. “And they lower their rates when supply is high.”
Fine told 8 News Now while these numbers aren’t ideal, he calls them a sign of a booming economy that’s officially bounced back from the start of the pandemic.
“You listen to everyone say the economy is in shambles,” Fine said. “But room rates are crazy because the demand is high.”
Still, many told 8 News Now it’s truly breaking the bank, with a lack of options or even deals to cut costs.
“They used to offer a lot of offers in Las Vegas especially,” a tourist recalled. “Like if you go to a casino the hotel is really cheap, but that is not the case right now.”
Those who spoke with 8 News Now said they hope to see things even out here in Las Vegas sooner rather than later.
“It’s still wild, yes,” Aguayo concluded.
8 News Now did also speak to some people who said they were able to get reasonable room rates, but they booked them up to six months ahead of time.
Many said they also chose Airbnb’s instead of hotels due to pricing and availability.