Continued softness in demand on the Las Vegas Strip has prompted Las Vegas Sands for the time being to close the hotel at the Palazzo.
The resort had stopped accepting weekday room reservations in July and will now be closed seven days a week, to “better reflect occupancy patterns,” a spokesperson told the Las Vegas Review-Journal.
The company’s sister resort, the adjoining Venetian, is still taking bookings and operating as usual, the spokesperson said.
The Palazzo’s restaurants and bars, the Grand Canal Shoppes and the parking garage remain open, according to the newspaper. The casino also remains open with limited table games and “minor adjustments to operating hours.”
During the company’s October earnings call, Chairman and CEO Sheldon Adelson said weekend occupancies had been “as high as 70 percent,” but midweek rates were suffering during the pandemic.
According to the Las Vegas Convention and Visitors Authority, weekend occupancy on the Strip averaged around 64 percent in October. Midweek reached only 39 percent, however, which has been the story throughout the year due to a pandemic-related halt to nearly all conventions and trade shows.
