HVS Las Vegas Casino and Hotel Market Outlook 2024 & By Shannon S. Okada

Las Vegas continues to evolve, with billions of dollars being spent on the development of new world&class venues in recent years. In 2023, occupied room nights, as well as total occupancy (83.5%), continued to lag 2019 performance; however, like gaming revenue, the market’s ADR ($191.29) and RevPAR ($159.73) for 2023 reached record levels for the second year in a row. This article examines the latest trends and developments that are relevant to the Las Vegas casino and hotel markets.