Vegas visitor volume degrades in August

LAS VEGAS, Nevada Las Vegas visitor volume fell 3.7 percent in August, the fifteenth straight month as the number of travelers coming to the area decreased. Almost 3.1 million travelers came to Las Vegas throughout the month, up from 3.2 million in August 2008, figures released Friday by the Las Vegas Convention and Visitors Authority program. For the first 8 months of 2009, 24.4 million visitors went to Las Vegas, a drop of 5.8% from 25.9 million visitors in the first 8 months of 2008.
In its month-to-month summary, Convention authority authorities stated year-to-date commercial space tenancy rate of 82.7% continues to track higher than the national average of 56.6% reported by Smith Travel research study this article. Attendance was pressed 58.9% with almost 300 less conventions held in Las Vegas throughout the month. U.S.A. Today reported Thursday that Las Vegas is losing business convention for the city considered not as luxurious or those that might raise issues that services are thinking travel expenses dollars.
Video gaming analyst Wells Fargo Dennis Farrell Jr stated the economic crisis continues to affect consumers’ sensible spending attitudes concerning travel and entertainment. “Our contention remains unchanged as we still believe Las Vegas Strip operators will continue to deal with a tough environment,” Farrell told financiers. “Economic weak point continues in California, the strip’s largest feeder market.” He stated visiting will continue to be bad as tourists cut down on their variety of journeys to Las Vegas and reduce their costs habits. Farrell said the hotel’s new rooms, such as the 6,000-room opening in December to MGM Mirage’s $ 8.5 billion CityCenter project, will continue to keep space costs at lower levels.

Suburbs in Clark County likewise had tourist declines.