Archive for February 15th, 2008

It's All About the Opportunity – Part II

Friday, February 15th, 2008

The hits just keep on coming! There is so much positive news about the current strength and future potential of Las Vegas, Nevada that we’re just going to make a list because the data speaks for itself. One record after another was broken in 2007 and the next five years look stellar. Take a look for yourself….

1) 2007 sets a new all-time record for visitors to the hottest vacation/business destination on the planet. 39.2 million people showed up to do the “Vegas thing” last year, an increase of 300,000 from the previous record.

2) The 2007 visitation record was the FOURTH YEAR IN A ROW that we set a record for tourist attendance. What else can you say?

3) Las Vegas tied the all-time room occupancy record (first set in 1996) in 2007 by posting a breathtaking figure of 90.4%. Why breathtaking? Average hotel occupancy percentages on the Las Vegas Strip are a stunning 27 points higher than the national hotel-industry average.

4) It should be no surprise that Gaming Revenue set a new all-time record as well. A cool $10.9 billion hit the casino cages across Clark County in 2007. Nice work if you can get it!

5) $40 billion worth of new hotel/resort development is slated for completion between now and 2012, with 9,000 (out of a total of 40,000) new hotel rooms coming on-line in 2008 alone. How many new jobs might 40 billion dollars and 40,000 hotel rooms generate? About 110,000…give or take.

6) Entrepreneur.com recently featured Las Vegas, Nevada as one of the four “Top Places to Buy” residential real estate in the entire country for 2008. Go figure…

7) Just last week, Forbes.com saw fit to include Las Vegas real estate in their Top 10 List of “Best Cities for Bargain House-Hunters”. What a surprise…