In the wake of COVID closures and plummeting casino revenue, Las Vegas hotel room rates have plunged to all-time lows.
After drastic pandemic safety measures shuttered most casinos for months, total resort revenue plunged as well. Even after reopening casinos in July, the loss of revenue and jobs has been staggering.
A wave of new safety protocols reduced casino occupancy levels, closed restaurants and bars, and decimated mid-week resort revenue. Many Vegas casinos closed mid-week and currently operate only on weekends.
Analysts at the Las Vegas Review-Journal reported room rates at hotel-casinos have dropped by 40% or more. According to former MGM Resorts executive Alan Feldman, the new low rates are an “ominous” new low for Las Vegas. “This is belt-tightening on top of belt-tightening,” he said. “That’s really unfortunate.”
Since state and local revenues rely heavily on tax revenue from casinos and resorts in Nevada, these new rates represent an alarm bell in the industry. But the unusually low rates might be a boon for anyone visiting Vegas now.
Rock Bottom Rates
One of the greatest deals in Vegas casinos now is at the Strat Hotel Casino, where room rates have plunged from $64 to $29 per night, a 54.7% reduction. This is the biggest drop in room rates out of 35 resorts in the region.
However, there is one caveat: resort fees. While actual room rates have dropped drastically in Vegas casinos, there are other hidden charges which might surprise the bargain shopper. Several resorts charge ‘resort fees’ on top of hotel room rates. Be sure to check if a particular hotel-casino has resort fees added on top of regular room rates, and if so, is it a per-night charge or per visit fee.
Even though many Vegas restaurants have closed, several are offering takeaway Thanksgiving feasts for festive visitors. These range in price from local specials to huge spreads cooked by top chefs.
Many people have never enjoyed the large family gatherings at holidays, the awkward silences or outright arguments that may occur. So, maybe Las Vegas offers a true holiday alternative at crazy low prices.
Enjoy the holidays and stay safe!
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