Bookings for rooms along the Las Vegas Strip experienced a positive trend in Q1, but doubts persist regarding the remainder of 2025.
In the heart of Nevada, the glittering lights of the Las Vegas Strip continue to draw visitors from around the globe, but recent data suggests a slowdown in the first quarter of 2025. As we approach the summer months, the trend is characterized by some softness and cautious optimism for growth later in the year and into 2026.
According to a report from Truist Securities, the first quarter of 2025 remained positive for Las Vegas Strip resort operators in terms of room bookings. However, a slight softening could be coming in the months ahead. This week's survey showed a modest rate deceleration from the prior survey for the Las Vegas Strip, with average daily room rates dipping by 2.2% during recent months.
The visitor volume to Las Vegas is down about 6.5% so far in 2025. The summer forecast is not as strong, causing some caution, with seasonality, weaker convention business, and inflation concerns causing some visitors to adjust spending or seek better deals. However, convention attendance is up nearly 2%, which supports some underlying demand.
Despite the softness, the average daily rate is expected to inch upward to around $233 by later in 2025, while occupancy is projected to climb to about 64.4%. Analysts predict a rebound beginning in the fall of 2025 and growth through the fourth quarter into a strong start for 2026. This optimism is supported by a robust upcoming convention and event calendar, including a post-renovation Las Vegas Convention Center ready to host large conferences such as the ConEx-ConAgg with over 100,000 attendees in March 2026.
The Las Vegas Convention and Visitors Authority (LVCVA) reported a 1.1% visitor volume decline in January 2025. In February 2025, Harry Reid International Airport served 7.5% fewer travelers compared with February 2024. These figures could hint at a further slowdown of visitors, but the LVCVA has not yet unveiled its February Executive Summary.
Social media is abuzz with concerns about the state of Las Vegas and the Strip, with some regular visitors expressing worry about mounting resort fees, expensive food, tight odds, and costly hotel room rates. Reports of slower traffic in and around the Strip have added to these concerns.
One such visitor, Kruna Patel, a 40-year-old art teacher from Vancouver, scrapped his plans to visit Las Vegas due to President Donald Trump's escalating language about tariffs and annexation, and is now going to Spain instead.
Despite the challenges, the outlook for April is positive, with MGM reporting 11% higher room rates and Caesars 6%. As we move into the latter part of 2025 and into 2026, the forecast points to a rebound with growth in visitor volume and rising room rates, driven by strong convention business and events.
[1] Las Vegas Review-Journal, Las Vegas Strip room rates up in Q1 2025, but visitor volume down, 24 March 2025. [2] CNBC, Las Vegas Strip room rates dip slightly in March, 15 March 2025. [3] KLAS-TV, Las Vegas Strip hotel occupancy up in Q1 2025, 22 March 2025. [4] Las Vegas Sun, Las Vegas Convention Center to host ConEx-ConAgg in 2026, 10 February 2025. [5] Las Vegas Business Press, Las Vegas Convention and Visitors Authority books record number of events for 2026, 17 March 2025.
- Despite the moderate room rate dip, Truist Securities remains positive about the Las Vegas Strip's first-quarter performance in 2025.
- The slight rate deceleration on the Las Vegas Strip has caused a 2.2% drop in average daily room rates.
- A report from the Las Vegas Convention and Visitors Authority (LVCVA) showed a 1.1% visitor volume decline in January 2025.
- Kruna Patel, an art teacher from Vancouver, is reconsidering his plans to visit Las Vegas due to political concerns and is instead opting for Spain.
- The upcoming ConEx-ConAgg conference at the Las Vegas Convention Center, scheduled for March 2026, is expected to attract over 100,000 attendees.
- Social media discussions revolve around mounting resort fees, expensive food, tight odds, and costly hotel room rates in Las Vegas.
- With 11% higher room rates, MGM is poised for a promising April in 2025.
- The Las Vegas Strip hotel occupancy increased in the first quarter of 2025, according to KLAS-TV reports.
- Data suggests a softening in the number of visitors to Las Vegas, causing some caution.
- Analysts predict a growth rebound in the fall of 2025, with a strong focus on casino-culture, casino-games like blackjack, poker, and roulette, and a surge in responsible-gambling trends on the Las Vegas Strip and at casinos throughout Nevada. #mgm #CasinoGames #Tourism #LasVegas #Slots #Caesars #CasinoPersonalities #LVCVA #GamblingTrends #CasinoCulture #ResponsibleGambling
