With four concerts by K-pop band BTS, the National Association of Broadcasters trade show and the National Football League Draft on Las Vegas’ event calendar in the next three weeks, the city’s resorts are gearing to capitalize financially.
Average daily room rates during the days of those events are four to five times higher than April 2021’s average rate. Some hotels are asking more than $1,000 a night for a stay.
A survey of room rates listed on hotels.com determined that the average rate among 58 properties for Friday and Saturday — the dates of the first two of four concerts by the popular Korean boy band — was $476.38 a night.
The average rate from April 23-27, the dates of the broadcasters trade show, among 48 properties is $338.50 a night.
The average rate of 51 properties from April 28 to April 30, the dates of the NFL Draft, is $403.25 a night.
The rates were surveyed on hotels.com Wednesday and included Strip, downtown and off-Strip properties.. Some resorts that are already sold out weren’t included in the survey.
The average daily room rate in April 2021, according to the Las Vegas Convention and Visitors Authority, was $109.36 a night. On the Strip, the average was $113.77, and in downtown Las Vegas, $86.03 a night.
Aria Sky Suites had the most expensive rates with the website showing $1,720 a night for the first BTS weekend, $2,159 a night during NAB and $1,787 a night during the NFL Draft.
Rooms selling for under $100 a night were hard to come by. A guest could stay at the Oyo during the NAB show for $81 a night and $107 during the draft. The off-Strip Silver Sevens property was offering rooms during NAB for $82 and during the draft for $108.
Even the famously inexpensive Motel 6 properties in Las Vegas are commanding high rates. The Motel 6 near Allegiant Stadium was offering rooms for $338 a night during the first BTS concert weekend, with the Tropicana Avenue site priced at $308 and the Motel 6 near the Las Vegas Motor Speedway going for $326.
The highest rates this weekend are the Aria Sky Suites, followed by MGM Signature Suites ($1,443), the Four Seasons ($1,263), the Delano ($1,124), Caesars Palace ($1,074) and Wynn Las Vegas ($1,019).
The NFL Draft is still three weeks away, and rates could climb even higher as the first night of the event draws nearer, but as of Wednesday, the highest rates are at the M Resort, which bills itself as the official hotel of the Las Vegas Raiders ($2,897 a night), the Aria Sky Suites ($1,787) and the Palms Place Stripview suites ($1,424).
The resorts closest to the NFL Draft location at Las Vegas Boulevard and Flamingo Road are higher than last year’s average but relatively moderate compared with other places.
The average nightly hotel price for the three nights of the draft include Bellagio ($599), Caesars Palace ($466), the Cromwell ($349), Planet Hollywood ($276), the Linq ($252), Bally’s ($238), Harrah’s Las Vegas ($232), and the Flamingo ($226).
This is a developing story. Check back for updates.