Las Vegas is Las Vegas again.
Judging by the lack of hotel rooms and the prices of those available anyway.
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The return of major events and subsequently sold out hotels is helping the city return to normal after more than a year of battling for business in the face of the COVID-19 pandemic.
But as the Las Vegas Review-Journal reports, this weekend was the epitome of Vegas weekend – the three-day Electric Daisy Carnival (EDC), October 22-24, which drew hordes of music lovers to the dance festival and drove room prices soaring . How high
Well, the RJ found that all the rooms that were still available cost twice, sometimes three times, the normal room rate. Take the Excalibur, for example. Generally considered a pretty decent hotel compared to high-end hotels like Aria, Cosmopolitan, and Bellagio, the Excalibur showed a room rate of $ 509 a night.
The room rate for the upcoming Halloween weekend at the Excalibur is $ 199 per night.
Las Vegas has long been America’s Playground – among other nicknames for the gambling and entertainment mecca – an attraction like no other, drawing 42.5 million tourists in 2019.
Some come to gamble, some for the food, some for the A-list entertainment, others to go to the nightclubs. Lost in the shuffle is the festival, convention and event business, which attracts tens of thousands – sometimes hundreds of thousands like at a NASCAR race – for a single weekend.
It was something Las Vegas missed at the height of the pandemic when festivals and conventions were canceled.
“The room rates show their resilience for events like EDC. We saw prices rise downtown during Life is Beautiful, ”Brendan Bussmann, director of government affairs for Las Vegas-based Global Market Advisors, the newspaper related to the Life Is Beautiful Music & Arts Festival, told the newspaper last month took place. “But if you have a city-wide event with EDC in attendance, it helps all ships with the rising tide.”
Also helpful is the first full season with fans of the National Football League Las Vegas Raiders, who not only attract locals to their shiny new Allegiant stadium, but also thousands of visiting team fans who combine a Sunday soccer game with a long Vegas weekend want.
“When you have big event weekends like this one with EDC and the Raiders, room rates will go up due to the number of visitors at the destination. It’s good for the destination’s long-term benefit, but ultimately, it’s short-term recovery as we continue to recover, ”added Bussman.
