Visitor volume is the single-largest determinant of Southern Nevada's economic health, driving hotel occupancy, average daily room rates, and gaming revenue. All experienced modest increases in 2011 and are expected to continue to improve in 2012.
Although the Las Vegas market has historically weathered periods of economic decline and downturns in visitation and is beginning to show signs of improvement, the rate and extent of a future recovery are uncertain at this time.
Atlantic City faces many challenges ahead. This article examines the visitation and revenues trends for Atlantic City and summarizes major developments occurring in 2010 and beyond, including the Pennsylvania table games.
The impact of the downturn in the national and worldwide economies, and the resulting decrease in consumer consumption, was strongly felt by the Las Vegas gaming-tourism industry in 2009. Has the bottom been reached?
From economy to luxury hotels, existing and proposed, knowing the sources, habits, and prevalence of future patrons is crucial to success.
Unemployment is high, automakers are still in the red, and the city’s hotel industry hangs in the balance. But there’s more happening in Detroit than the statistics reveal.
The recovery of gaming, hotels, and tourism in Biloxi continues following Hurricane Katrina. How will these industries fare in the face of a national economic storm?
The downturn in the national and worldwide economies, and the resulting decrease in consumer consumption, has reduced visitation to the Las Vegas market in 2008 to levels not seen since 2004.
Unemployment rates are surging, global stock markets are crashing, commodities are collapsing, and the real estate bubble has finally burst. What moves can hotel developers make during the downturn?
Prior to the events of September 11th, the market was performing at levels on par with 2000; however, since September 11th the market occupancy declined somewhat.