May10
Las Vegas Expects $226M Spent For Thanksgiving
November 22, 2018 Jim Murphy
With Thanksgiving looming on Thursday, November 22nd , Las Vegas is preparing for a huge influx of visitors on this holiday…
…In fact, the estimated number of out-of-town visitors expected is approximately 300,000. This is what Las Vegas Convention and Visitors Bureau has stated as venues all across the Sin City polish their entrances and rooms as they expect the rivers of people pouring in.
Unexpected Destination
Despite Thanksgiving reputation of a family holiday – due to its inherent nature of being a time of year when wider families get together and are seated at table feasts, numerous individuals choose to spend the Thanksgiving holidays in Vegas.
In fact, the AAA’s stats show that Las Vegas is fifth most popular Thanksgiving destination this year, based on booking made through their travel agency.
AAA’s Travel Senior VP Bill Sutherland comments: “Consumers have a lot to be thankful for this holiday season: higher wages, more disposable income, and rising levels of household wealth. This is translating into more travelers kicking off the holiday season with a Thanksgiving getaway, building on a positive year for the travel industry.”
That’s why the most eminent and glitzy properties in Vegas are renting their rooms at reasonably high-end prices – a night at The Palazzo costs $364, Wynn Resorts nightly rate goes from $179 – without taxes and daily fees.
Lucrative Weekend Ahead
These 300,000 people (which is a 1.4% increase over 2017) are expected to spend an extended holiday period between Wednesday and Saturday in Vegas. Early estimates say that 91% of hotel rooms in the city will be occupied during this time.
Financial analyst, Steven Budin, says that anything above 90% is a great result. “That means the hotels can charge full value for the rooms and as those hotels are full each of those people will spend downstairs as well.”
Expected collective spending by these visitors during this time frame is expected to reach $226 million!
Stronger economy and bigger personal income prompts more Americans to travel this holiday season with 48.5 million hitting the road this season.
People from all over Canada and Mexico are shopping in Las Vegas South Outlets. Tom and Margret Clarke from Windsor, Canada say that prices are cheaper in the US compared to Canadian prices: “There’s way more variety here and there’s better sales.”
As for Las Vegas’ holiday expectations, they are given some extra fuel with Tiger Woods and Phil Mickelson coming to town for the one-on-one game of golf that is played on Friday 23rd – Black Friday, as it is known.
The exhibition match is a pay-per-view spectacle with the winner taking home $9 million. Also, the match is being played on Shadow Creek Golf Course – property of MGM Resorts. Fans can watch the live broadcast for $19.99
Source:
“300K visitors expected to spend nearly $226M in Las Vegas for Thanksgiving”, Cinthia Maldonado, ktnv.com, November 17, 2018.
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It’s a bit awkward to be celebrating Thanksgiving in Vegas, isn’t it? But what do I know anymore… In any case, that amount of money to be spent is ridiculous!