by Calculated Risk on 3/28/2023 01:58:00 PM

Note: I like using Las Vegas as a measure of recovery for both leisure (visitors) and business (conventions).

From the Las Vegas Visitor Authority: February 2023 Las Vegas Visitor Statistics

With an easy comparison to the lingering COVID‐affected months of last year, Las Vegas saw visitation approach 3.1M in February 2023, up +17.8% over February 2022.

Overall hotel occupancy exceeded 82% for the month, +12.9 pts YoY and down ‐4.8 pts vs. 2019 while Weekend occupancy reached 89.3%, up 1.8 pts YoY and ‐2.6 pts vs. February 2019. Supported by the strengthening convention/group segment, Midweek occupancy reached 78.8%, + 18.1 pts vs. February 2022 and ‐5.8 pts vs. February 2019.

Robust room rates equated to overall ADR of approx. $177, +18.1% ahead of February 2022 and +35.8% vs. February 2019 while RevPAR exceeded $145, +40.1% YoY and +28.3% over February 2019.

Click on graph for larger image.

The first graph shows visitor traffic for 2019 (Black), 2020 (light blue), 2021 (purple), 2022 (orange), and 2023 (red).

Visitor traffic was down 3.4% compared to the same month in 2019.

Visitor traffic was up 17.8% compared to last February.

The second graph shows convention traffic.

Convention traffic was down 11.4% compared to February 2019, but up 51.1% compared to February 2022.

Note: There was almost no convention traffic from April 2020 through May 2021.