After a robust 2013, in which Las Vegas welcomed 39.7 million visitors, 2014 continued with strong numbers, toppling the previous year. While the final numbers have yet to be tallied, it is estimated the number of tourists rose to 41 million. In fact, 10 out of the first 11 months reported record-setting totals, something the Las Vegas Convention and Visitors Authority can proudly hang their hat on.
The only negative to take away, in regards to the volume, is that convention attendance was down 10.4 percent in November, but was up overall on the year by 1.1 percent. The reason for the dip was due to two November 2013 trade shows not re-attending this year, leaving behind some 27,000 attendees.
The convention authority released further figures, which show Las Vegas and Southern Nevada alike are trending in the right direction.
McCarran International Airport reported a 2.5 percent increase on the year, with more than 39.5 million airline passengers coming in for the first 11 months. Hotel occupancy is up as well, with a similar 2.4 percent increase, at a solid 87.7 occupancy rate through November. The month also say a 3.9 percent increase in average daily room rate for Las Vegas, climbing to $113.51, while being up 5.7 percent on the year.
Also showing an increase was the revenue per available room, also known as RevPAR, a critical reporting figure used to gauge profits in the hotel industry. RevPAR is calculated by dividing the total hotel revenue from occupied rooms by the total number of available rooms for a given period of time. RevPAR on the year is up 5.7 percent, a number sure to please hotels.
While the number of visitors increased 4.1 percent in November, they are still down 1.6 percent on the year. Mesquite, on the other hand, showed a November increase of 14.6 percent while boasting a staggering 15.3 percent increase on the year through November. Tourism is the king of industries in Las Vegas, and generates $45 billion annually and provides 376,000 jobs, numbers which may hit new records in 2015.