Las Vegas Saw 20% Increase in Convention Attendees in 2023
Skift Take
Las Vegas saw a significant tourism and economic boost in 2023, highlighted by a surge in convention attendance, international visitors, and major events like the Las Vegas Grand Prix and the Super Bowl.
The DJIA fell 422 points, Nasdaq was down 136, the S&P 500 was down 49 but the real action was in treasuries. The 10 year treasury yield surged .19 today to 4.56%. Obviously lodging stocks were down, led by REITs. SVC was the only real mover of note, down -5% on the day. The amazing thing is the 422 point drop in the DJIA was well off the session lows.
STR gave US lodging data for the week ended 4/6. The Easter shift went in the other direction as US hotel RevPAR was up 6.9% led by occupancy rising 4.7%. Group RevPAR was up 43.5%.
According to a report by Applied Analysis for the Las Vegas Convention and Visitors Authority, Las Vegas welcomed 6 million conventioneers last year, a 19.9% increase from 2022. The report, which looked at the economic impact of Southern Nevada tourism, noted total visitation increased by 5.2% to 40.8 million in 2023, surpassing 40 million for the first time since 2019. In
