Posted <time class="entry-date published pf-date" datetime="2017-02-28T16:32:57-08:00" style="text-rendering: geometricprecision; margin: 0px; padding: 0px; border: 0px; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-caps: inherit; line-height: inherit; vertical-align: baseline; color: rgb(148, 0, 42);">February 28, 2017 - 4:32pm</time>Updated <time class="updated" datetime="2017-02-28T18:15:46-08:00" style="text-rendering: geometricprecision; margin: 0px; padding: 0px; border: 0px; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-caps: inherit; line-height: inherit; vertical-align: baseline;">February 28, 2017 - 6:15pm</time>[h=1]Average daily room rate in Las Vegas reaches all-time high[/h]
By RICHARD N. VELOTTA
LAS VEGAS ***************
Southern Nevada’s tourism economy produced a record that delighted resort operators, but may make Las Vegas visitors cringe.
The average daily room rate — the average amount resort guests pay for a night in a hotel — rose 3.7 percent to $150.21 in January, the highest monthly average compiled by Las Vegas Convention and Visitors Authority researchers.<iframe style="text-rendering: geometricprecision; margin: 0px; padding: 0px; border-style: none; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-caps: inherit; line-height: inherit; vertical-align: baseline; max-width: 100%; height: 0px; width: 646px; display: block;"></iframe>
ADVERTISING
<iframe scrolling="no" frameborder="0" style="text-rendering: geometricprecision; margin: 0px; padding: 0px; border-width: 0px; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-caps: inherit; line-height: inherit; vertical-align: baseline; max-width: 100%; overflow: hidden; display: block; width: 550px !important; height: 310px !important;"></iframe>The LVCVA reported Tuesday that the rate topped the previous high of $146.53 recorded in April 2007.The rate, routinely referred to in the industry as ADR, is the average rate reported by resorts to the LVCVA and does not include resort fees, taxes or parking charges.
Another indicator, revenue per available room, or RevPAR, calculates the ADR with the average occupancy rate. RevPAR for January was $128.73, up 3.7 percent from January 2016.
LVCVA researchers broke down January ADR to $163.72, up 3.8 percent from last year, at Strip properties and $74.59, up 2.1 percent, downtown.
Rates were high in January as a result of high demand created by large conventions, including CES, and the New Year’s holiday falling over a three-day weekend that included January dates.
Las Vegas visitation showed a slight increase, up 1.1 percent to 3.5 million in January. Convention attendance fell 4.1 percent to 736,003 for the month.
The month’s convention attendance was hurt because several shows that were in Las Vegas in 2016 rotated out to other cities this year. The National Association of Homebuilders (59,700 attendees) and the National Kitchen &Bath show (33,000) were in other cities.
The LVCVA visitation report followed a positive gaming win report issued earlier Tuesday by the state Gaming Control Board.
