The August numbers are out from the Las Vegas Convention and Visitors Authority (LVCVA). While overall visitor volume was down 0.2% compared to August 2017, convention attendance was up 17.9% and auto and air traffic saw modest gains as well. The story is more mixed for the year to date, with convention attendance down slightly but traffic up.
Available room inventory ticked up by 0.3%, but both room nights occupied and the occupancy rate dipped. While weekend occupancy was up 1% it was down by about twice that amount for midweek. Downtown occupancy was flat, while the Strip saw a 1.6% decline.
Despite this and declines in gaming win, the revenue per available room (RevPAR) was up by 1.1% in August – but that figure was much higher for Downtown while for the Strip it was essentially flat. A big contributor may have been the average daily room rate – up 2.1% from August of last year.
Some of the metrics that were up in August are trending down slightly for the year to date. A couple more decent months could change that.