High occupancy rates persist on the Las Vegas Strip, despite elevated prices causing a few visitors to seek alternatives.
The Las Vegas Strip, renowned for its vibrant atmosphere and endless entertainment, is experiencing a shift in its landscape. According to recent reports, room rates at MGM Resorts and Caesars Entertainment properties have seen an increase for the April season.
MGM Resorts properties have seen a notable rise of 11%, while Caesars casinos have experienced a more modest 1% increase in room rates compared to the same period last year. This trend continues from the first quarter of 2025, where MGM Resorts reported a 3% increase, and Caesars Entertainment saw a significant 6% rise in casino room rates.
However, these increases come with a few changes. MGM Resorts eliminated free valet parking for most guests back in 2016, and resort fees can now reach as much as $55 a night before tax. These fees, combined with the average nightly rate of nearly $200, have caused growing unrest among a significant number of guests.
Despite these increases, the Las Vegas Strip's room bookings remain strong for the near future. Barry Jonas of Truist Securities reported a strong demand for Las Vegas in April and beyond, based on check-ins with Strip resorts.
The visitor volume on the Strip was down 1.1% in January 2025, but convention attendance soared almost 13%. This surge in convention attendance could be a contributing factor to the strong demand for rooms.
One notable change can be seen at Planet Hollywood Resort & Casino's on-site restaurant, Pin-Up Pizza. The price of a larger pizza has increased by $7.00, and a two-slice and fountain drink combo saw a jump from $19.99 last week to $26.99 over the weekend. A whole plain cheese pizza now costs $79.99, with an additional $6.99 for a 20-ounce fountain drink, totalling $86.69 with tax.
Despite these price hikes, the Las Vegas Convention & Visitors Authority (LVCVA) reported that nearly 87% of overall guests in 2024 left "very satisfied," with another 10% being "somewhat satisfied." However, some travelers to the Las Vegas Strip are expressing frustration over increasing fees and costs.
The LVCVA's 2024 Visitor Profile shows that just 2% of guests reported being "dissatisfied." The Strip houses a combined 17 resorts operated by MGM and Caesars, and it seems that, despite the growing costs, the allure of Las Vegas continues to draw in visitors.
However, the Strip is also seeing changes in its gaming landscape. $25 cocktails, 6:5 blackjack, double-zero roulette, high table minimums, and poor slot payouts are becoming common, adding to the overall cost for visitors.
As the Las Vegas Strip continues to evolve, it remains to be seen how these changes will impact the city's tourism industry in the long run.
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