With 5.1 million people attending trade shows and conventions last year, Las Vegas has returned to pre-recession levels in terms of its meetings and conventions industry.
According to statistics released by the Las Vegas Convention & Visitors Authority (LVCVA), the number of people attending business-related events in 2013 grew 3.3 percent over the year before when 4.9 million people attended trade shows, conventions and meetings in the city. It is the highest meeting attendance since 2008, the year the recession began.
Las Vegas hosted 22,027 business-related events last year, up 1.9 percent over the previous year’s total of 21,615 and, as with the attendance figure, it is the largest number of meetings since 2008.
“We are encouraged to see positive signs of continued growth for Nevada’s leading economic engine,” says LVCVA President and CEO Rossi Ralenkotter in a statement, “particularly in the meetings and conventions industry.”
With a citywide occupancy rate of 84.3 percent in 2013 and a total of more than 150,000 hotel rooms available, Las Vegas has the highest occupancy rate of any other city in the United States. The average room rate rose almost $3 (2.4 percent) over 2012 to an average of $110.72.
The average room rate is likely to increase again this year with most of the new hotels opening in the upper range, such as the The LINQ and High Roller, SLS Las Vegas, Delano Las Vegas and The Cromwell.
Overall, visitor volume to Las Vegas held steady, with 39.7 million people visiting the city in 2013.