Las Vegas Hospitality Market Report

Weekend demand heats up. Sin City registered encouraging performance in the months leading up to the summer. During the three-month window ended in May 2022, more than 10 million people visited the metro, supporting an 82.4 percent occupancy rate during this period. Hotel demand was extremely strong during spring weekends, which collectively recorded occupancy of 92.4 percent. The improvement in overall tourism and weekend bookings have helped push room rates well beyond pre-pandemic figures. An additional positive, May passenger volume at Harry Reid International Airport was the third highest in its history. The lifting of COVID-19 testing requirements for international travelers is expected to further boost traveler counts, which is a tailwind for hotel performance.