Las Vegas Craps Out
November was another bad month for the Las Vegas hospitality industry. Visitor volume (2.8 million) was down nearly 10 percent over the same month a year earlier. Through November, the city hosted 3.8 percent fewer visitors in 2008 than in '07.
Every major tourism indicator (except room inventory, up 3.1 percent to 137,892 rooms) also fell in November. Some lowlights:
• Occupancy, down 7.7 percent to 79.2 percent;
• Average room rates, down 8.1 percent to $108.80;
• Convention attendance, down 16.4 percent to 503,545;
• Gaming revenues, down 15.2 percent to $703 million.
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