{"id":1080,"date":"2024-01-30T13:14:55","date_gmt":"2024-01-30T10:14:55","guid":{"rendered":"https:\/\/xxbet-company.com\/super-bowl-room-rates-could-topple-las-vegas-strip-records-says-analyst\/"},"modified":"2024-01-30T13:14:55","modified_gmt":"2024-01-30T10:14:55","slug":"super-bowl-room-rates-could-topple-las-vegas-strip-records-says-analyst","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/de\/super-bowl-room-rates-could-topple-las-vegas-strip-records-says-analyst\/","title":{"rendered":"Super Bowl Room Rates Could Topple Las Vegas Strip Records, Says Analyst"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Inhaltsverzeichnis<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/de\/super-bowl-room-rates-could-topple-las-vegas-strip-records-says-analyst\/#Super_Bowl_Benefits_Could_Be_More_Widespread_Compared_to_F1\" title=\"Super Bowl Benefits Could Be More Widespread Compared to F1\">Super Bowl Benefits Could Be More Widespread Compared to F1<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/de\/super-bowl-room-rates-could-topple-las-vegas-strip-records-says-analyst\/#Other_Las_Vegas_Strip_Hotel_Notes\" title=\"Other Las Vegas Strip Hotel Notes\">Other Las Vegas Strip Hotel Notes<\/a><\/li><\/ul><\/nav><\/div>\n<p>On Sunday, the Kansas City Chiefs and San Francisco 49ers clinched spots in Super Bowl LVIII. The big game could break records for room rates on the Las Vegas Strip, according to one analyst.<\/p>\n<figure aria-describedby=\"caption-attachment-283150\" data-style=\"width: 858px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" fetchpriority=\"high\" class=\"wp-image-283150 size-post-thumbnail-858xAUTO\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/las_vegas_housing_market.jpeg-858x572.jpg\" alt=\"Nevada casinos Las Vegas gaming revenue GGR\" width=\"858\" height=\"572\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/las_vegas_housing_market.jpeg-858x572.jpg 858w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/las_vegas_housing_market.jpeg-430x287.jpg 430w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/las_vegas_housing_market.jpeg-302x200.jpg 302w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/las_vegas_housing_market.jpeg-238x158.jpg 238w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/las_vegas_housing_market.jpeg-194x128.jpg 194w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/las_vegas_housing_market.jpeg.jpg 1200w\" sizes=\"(max-width: 858px) 100vw, 858px\" title=\"\"><figcaption class=\"text-description\">The Welcome to Las Vegas sign. Hotel rates on the Strip could set records during Super Bowl weekend. (Image: Shutterstock)<\/figcaption><\/figure>\n<p>While acknowledging that comparisons between the 2023 Super Bowl in Phoenix and this year\u2019s iteration of the game in Sin City are tough, Truist Securities analyst Barry Jonas pointed out in a new report that Las Vegas Strip hotel room prices are currently averaging $800 per night at Caesars Entertainment (NASDAQ: CZR) and MGM Resorts International (NYSE: MGM) properties compared with $300 per night in Phoenix a year ago.<\/p>\n<blockquote class=\"main-blockquote\">\n<p>The Super Bowl is shaping up to become a material event,\u201d Jonas wrote. \u201cRoom-survey data suggests a significant average-daily-room rate uplift across properties for both MGM and Caesars over the Super Bowl weekend. Our survey suggests room-rate compression could be significant across most properties in both companies\u2019 portfolios, with most premium Strip rooms long sold out on internet channels.\u201d<\/p>\n<\/blockquote>\n<p>MGM and Caesars <a href=\"https:\/\/www.casino.org\/news\/caesars-mgm-draw-bullish-praise-as-las-vegas-ggr-rises\/\" rel=\"nofollow noopener\" target=\"_blank\">are the two largest operators<\/a> on the Strip. Super Bowl LVIII takes place on Sunday, February 11 at Allegiant Stadium, home of the Las Vegas Raiders.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Super_Bowl_Benefits_Could_Be_More_Widespread_Compared_to_F1\"><\/span>Super Bowl Benefits Could Be More Widespread Compared to F1<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>November\u2019s Las Vegas Grand Prix \u2014 Formula One\u2019s (F1) first visit to Las Vegas in four decades \u2014 was a success, but at the operator level, economic upside was largely confined to high-end casino hotels. Those include MGM\u2019s Aria, Bellagio, Cosmopolitan, Caesars Palace, and Wynn Las Vegas.<\/p>\n<div class=\"callout\">\n<p>Specific to Caesars, most of that operator\u2019s Strip properties, excluding Caesars Palace, are considered middle-of-the-road venues, meaning <a href=\"https:\/\/www.casino.org\/news\/caesars-price-target-slashed-by-cbre-analyst-decree\/\" rel=\"nofollow noopener\" target=\"_blank\">there wasn\u2019t much benefit<\/a> attributable to the F1 race. However, casino hotels such as Caesars\u2019 Flamingo and Horseshoe and MGM\u2019s Excalibur and Luxor could be positively affected by the Super Bowl.<\/p>\n<\/div>\n<p>\u201cAs during the F1 event, higher-end properties appear to be benefiting strongly, although unlike F1 where the benefits were primarily captured by the high-end, medium-tier properties are also commanding higher rates year over year for the Super Bowl,\u201d added Jonas.<\/p>\n<p>Jonas observed that the Super Bowl could offset some softness in March room prices due to the absence of the CON\/AGG convention and some of the weakness on room prices seen earlier this month during the Consumer Electronics Show (CES).<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Other_Las_Vegas_Strip_Hotel_Notes\"><\/span>Other Las Vegas Strip Hotel Notes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Jonas also pointed out that <a href=\"https:\/\/www.casino.org\/news\/resort-fees-hiked-to-50-a-night-at-some-mgm-las-vegas-properties\/\" rel=\"nofollow noopener\" target=\"_blank\">MGM\u2019s recent decision<\/a> to boost resort fees at Aria, Bellagio, Cosmopolitan, and Vdara, while burdensome to guests, could contribute to higher first-quarter earnings before interest, taxes, depreciation, and amortization (EBITDA) for the operator.<\/p>\n<div class=\"callout\">\n<p>The analyst added that the debut of Fontainebleau Las Vegas isn\u2019t hampering room prices at rival properties, and that the much-maligned venue is proving steadier than Resorts World Las Vegas, the second-newest Strip integrated resort.<\/p>\n<\/div>\n<p>\u201cFontainebleau rates are trending close to Bellagio\u2019s and for now appear to be holding better than the Resorts World launch in June 2021, which had some early strength before falling materially,\u201d concluded Jonas.<\/p>\n<p>The post <a href=\"https:\/\/www.casino.org\/news\/super-bowl-room-rates-could-break-las-vegas-records\/\" rel=\"nofollow noopener\" target=\"_blank\">Super Bowl Room Rates Could Topple Las Vegas Strip Records, Says Analyst<\/a> appeared first on <a href=\"https:\/\/www.casino.org\/news\" rel=\"nofollow noopener\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>On Sunday, the Kansas City Chiefs and San Francisco 49ers clinched spots in Super Bowl LVIII. The big game could break records for room rates on the Las Vegas Strip, according to one analyst. The Welcome to Las Vegas sign. Hotel rates on the Strip could set records during Super Bowl weekend. (Image: Shutterstock) While <a href=\"https:\/\/xxbet-company.com\/de\/super-bowl-room-rates-could-topple-las-vegas-strip-records-says-analyst\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":1081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts\/1080"}],"collection":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/comments?post=1080"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts\/1080\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/media\/1081"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/media?parent=1080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/categories?post=1080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/tags?post=1080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}