ChatGPT said:
Las Vegas is launching a new campaign, “Welcome to Fabulous Las Vegas,” aimed at revitalizing tourism after a significant summer slump. The initiative will emphasize value for visitors, featuring promotions and incentives to attract travelers back to the city. The destination has experienced seven consecutive months of declining visitation, with the latest report for July showing a 12% decrease year over year.
MGM Resorts CEO Bill Hornbuckle emphasized that Las Vegas remains a strong draw for tourists despite the slowdown. He highlighted the importance of affordability, citing deals at the Excalibur resort, including $85 rooms with resort fees, $5 table games, and $5 beers. Hornbuckle acknowledged that perceptions of value had shifted in recent years, saying, “We let the narrative get away from us and shame on us. We need to do a better job.”
Before this year’s slump, Las Vegas had posted several years of growth in visitation, room rates, and profits. Hornbuckle, who also chairs the U.S. Travel Association, suggested that the downturn in Las Vegas could serve as a leading indicator for U.S. travel overall, which faces broader challenges. Canadian visitation has dropped roughly 40% this year due to geopolitical tensions, weakened currency, and rising costs of U.S. visas, which recently increased from $100 to $350 per person. These factors can make international trips cost-prohibitive for families attending major events.
Hornbuckle also highlighted the decline in government funding for marketing U.S. travel, which fell by 80% to $20 million in the most recent federal budget. Marriott CEO Tony Capuano noted that uncertainty in macroeconomic and socio-political conditions continues to weigh on travel demand. He pointed out that while budget travelers and small businesses are restraining spending, luxury travel remains resilient, showing steady demand even amid broader market challenges.
Wyndham Hotels and Resorts CEO Geoff Ballotti offered a more optimistic view, emphasizing strong demand for extended-stay accommodations. He noted that the company’s new construction pipeline has reached an all-time high, driven in part by projects supporting government infrastructure spending. Ballotti highlighted that groundbreakings and investment interest are accelerating, particularly in the domestic U.S. market, signaling confidence in long-term growth despite current travel uncertainties.
The combined efforts of promotional campaigns, targeted pricing, and new investments in hospitality infrastructure aim to stabilize Las Vegas tourism and encourage both domestic and international travelers to return, even as broader economic and geopolitical factors continue to influence travel patterns.
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