Dienstag, 26. Mai 2009

Las Vegas

Calculated Risk points out that Las Vegas, the all-American tourist destination, is suffering ever sharper declines in its "core business":

According to the Las Vegas Convention & Visitors Authority, the average Q1 room-rate was down 25 % yoy. Visitor numbers dropped 9 %, airport passengers 14 %. Convention attendance was down 29 %, and gaming revenues 15 %.

So total hotel revenues are down 32 % yoy (0.75 * 0.91 = 0.68).

Oh, and 2008 already saw a decline compared to 2007: Room-rates were down 10 %, and visitor numbers 4 %. So over two years, the decline in hotel revenues is 41 % (though for 2008, there is only full year data; Q1 was probably better than the full year, as the economic downturn only started to accelerate in late summer).


  1. Vegas offers irresistible deals right now.

    Why don't you drop by?

  2. Too far away. Not convenient.

    But I agree that Vegas is fun. For a day or two.