Vegas hotel prices to increase 2.3%
Vegas hotels are set to increase their average daily rate for 2018 by 1.8%.
The increase is in line with expectations for the hotel industry, which has been on a downward trend since 2014.
According to the Vegas Sun, the average daily hotel room rate is expected to increase by 2.5%.
The average hotel room price for the Las Vegas area is $3,934, according to the National Association of Realtors.
The average daily room rate for all hotels in the country was $3.18 in 2017.
In 2017, there were 3,621 hotel rooms, which is a decline from 3,822 rooms in 2017, according the National Conference of State Legislatures.
Las Vegas is the only major city in the United States to report a decrease in the number of hotel rooms.
In 2016, there was a 6.9% decline in the total number of rooms, according data from the National Hotel Association.
“As the tourism industry continues to grow, we expect to see an increase in the average room rate,” MGM Resorts International chief operating officer David Bovino said in a statement.
“We have had some very exciting results from our hotels and we expect the same for 2018.
We will be working hard to provide our guests with the best hotel experience possible, and the industry is growing.”