According to local experts, Memorial Day weekend, the traditional start to summer vacations, is expected to see a significant boost in tourism compared to last year.
The Las Vegas Convention and Visitors Authority (LVCVA) projects 343,000 visitors to Southern Nevada this weekend, a 1.8% increase from last year.
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Holiday Weekend
The LVCVA’s Research Center estimates $432.5 million in direct visitor spending, a 20.2% rise from 2023, and a total economic impact of $715.8 million, including indirect spending, up 10.9% from the previous year.
These estimates are based on similar or slightly lower occupancy rates from last year, just over 93%, but with an increased hotel room inventory of 154,696, a 1.9% increase.
Despite the Tropicana’s closure, the openings of Fontainebleau and Durango since last Memorial Day contribute to this growth.
Virginia Valentine, president of the Nevada Resort Association, emphasized the positive economic impact of holiday weekends and the resort industry’s investments in new attractions and entertainment.
While the economic outlook is positive, transportation challenges are anticipated.
Brian Ng from AAA Nevada predicts Memorial Day travel numbers not seen in almost 20 years, indicating a robust summer travel season ahead.
Highway Traffic Delays
Interstate 15, a key route between Southern California and Las Vegas, is expected to experience significant traffic delays, particularly on Monday’s return trip.
Nationally, AAA forecasts a record 38.4 million people will travel by car over Memorial Day weekend, the highest since tracking began in 2000.
This represents a 4% increase from last year and 1.9% higher than 2019. Car travel appeals to people because of its convenience and flexibility.
Hertz reports high demand for rental cars in Las Vegas, especially on Thursday and Friday.
Drivers can expect similar gas prices to last year, around $3.57 per gallon, with potential slight increases as the summer progresses.
The cost of oil remains a variable factor, influenced by ongoing conflicts in the Middle East and Ukraine.
Harry Reid International Airport is also expected to be busy.
Airport spokesperson Joe Rajchel advises travelers to arrive early and consider alternative transportation options due to likely full parking lots.
Amanda Belarmino of UNLV’s William F. Harrah College of Hospitality suggests Las Vegas’ strong performance during Super Bowl 58 in February could positively impact summer tourism.
Despite a potential market softening, high demand for Las Vegas tourism is expected, with some visitors opting for more budget-friendly options.
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Hotel Deals
Hotel prices vary, but the average rate from Friday to Sunday is $263.40 per night, slightly below last year’s Memorial Day weekend rate of $280.48.
Only one property, Hotel Galaxy, offers rooms for under $100 per night.
High-end properties like Wynn, Encore, Bellagio, Venetian, and Palazzo are booking rooms for over $500 per night.
The new Fontainebleau and Durango hotels offer rooms at $376 and $416 per night, respectively.
In May 2023, the average daily room rate was $183.40, with an 87% occupancy rate on weekends.
Rates declined slightly over the summer, but occupancy remained high, averaging 91.5% on weekends through June, July, and August.
Visitor numbers peaked in July with 3.53 million arrivals, while room rates ranged from $165.94 to $175.78 during summer.
You’ll check back here regularly to stay updated on the news.
