Las Vegas has hosted more than three million convention attendees since trade shows returned in June, and the Las Vegas Convention and Visitors Authority said that will only grow stronger for the remainder of 2022 and beyond.
The LVCVA highlighted the convention business rebound as part of Global Meetings Industry Day (GMID), being celebrated on Thursday. Conventions are key to filling hotel rooms midweek, and those visitors spend more than the average tourist.
In 2019, prior to the pandemic, 6.6 million visitors out of 42.5 million total (15.5%) came to Las Vegas for conventions. That number fell to 1.72 million in 2020 but rose to 2.2 million in 2021, according to the LVCVA.
The Las Vegas convention business got off to a slower start than expected in January when the omicron variant limited attendance to the Consumer Electronics Show, but convention visitation has been growing since those 305,300 convention visitors in January.
Las Vegas recorded 439,000 convention visitors in February. March’s numbers haven’t been finalized but are expected to grow from the first two months of the year. There’s room for improvement, since Las Vegas had 749,600 convention-goers in February 2019, before the pandemic. Casino executives said bookings have picked up, especially for the second half of 2022 and into 2023. Earlier this week, a Wall Street analyst said that bookings in the second half of the year will approach pre-pandemic levels.
J.P. Morgan reported that for the second quarter of 2022, weekday room rates are 90% higher than during the same period last year. Compared to 2019, weekday rates are 8% higher. That’s a good sign since hotel occupancy midweek in February was 60.7%, down from 84.6% in February 2019.
LVCVA President and CEO Steve Hill said the convention business has reignited, demonstrating that meetings can be held safely and efficiently. Sales teams across Las Vegas have also been hard at work securing new deals that will bring new business to the city over the next decade, he said.
Las Vegas is home to 14 million square feet of meeting and exhibit space, combining business with more than 150,000 hotel rooms and direct access to world-class sports and entertainment, Hill added.
With construction of several key developments continuing throughout the pandemic, Las Vegas has been poised to welcome business travelers back with new offerings and experiences as business travel resumes, Hill said.
Recent years saw the debut of Resorts World Las Vegas, Caesars Forum, and the Las Vegas Convention Center’s West Hall. MSG Sphere at The Venetian Resort Las Vegas, a venue for the next generation of experiences, is scheduled to open in the second half of 2023. More than $4.5 billion in investments are projected over the next two years, adding approximately 7,000 more hotel rooms and 791,000 square feet of convention space in Southern Nevada by the end of 2024, Hill said.
“Two years after our worlds were turned upside down, this GMID is a true celebration of our resilience as an industry,” said Stephanie Glanzer, senior vice president and chief sales officer for MGM Resorts International. “We emerged better and stronger with new creative approaches, enhanced technology and an overwhelming desire to develop events that are not only productive for our attendees, but also meaningful and memorable.”
Industry leaders descended on Washington, D.C., this week to build on that by meeting with Nevada’s congressional delegation and continuing to champion efforts to help the industry move forward and plan for its future. A bill pending in Congress would help the travel and tourism industry by having the Commerce Department study the impact of the pandemic and recommend policy changes.
“Today we celebrate the many contributions that help Las Vegas maintain its position as the number one trade show destination,” Hill said in a statement recognizing Global Meetings Industry Day. “We have been honored to welcome our trade show organizers, exhibitors, and attendees back to Las Vegas for valuable, in-person connections and we are grateful for their business and commitment to our destination.”
Conceived by the U.S. Travel Association, an advocacy association for the travel industry, GMID showcases the impact of the meeting industry to the U.S. economy. According to the group, as a result of the pandemic, the U.S. saw a reduction of $211 billion in business travel spending, $97 billion of which was due to the decline in meetings, conventions, and trade shows.
It’s not only the economic loss, Hill said. In-person meetings benefit attendees by fostering deeper connections, enhanced education and training opportunities, and access to information through informal conversations.
“As co-chair of Meetings Mean Business, I encourage everyone to advocate for the industry,” said Michael Massari, chief sales officer for Caesars Entertainment. “To bring business back to 2019 levels, we must continue to do what we do best – plan and execute extraordinary meetings and events.”
Over the last 12 months, Caesars Entertainment has hosted many conferences at its new Caesars Forum, including PCMA Convening Leaders, Meeting Professionals International’s World Education Congress, and Cvent Connect, Massari said.
For 26 consecutive years, Las Vegas has remained the number one trade show destination in North America, according to the Trade Show News Network.
Trade show organizers said Las Vegas is a preferred destination due to the ease of conducting business and ample entertainment and hotel options – offerings that are critical to the success of a show.
“Our team liaises with clients every day that recognize the importance of face-to-face interaction and delivering a first-class experience that warrants travel,” said Steve Blanner, executive vice president of hotel sales at Wynn Resorts. “Now more than ever, groups place safety and meticulous event programming in the forefront and we are steadfast partners in every step of that process to ensure a successful and memorable event. There is no place in the world that delivers the excitement of Las Vegas.”
One of the top destinations for meetings is the Venetian Convention and Expo Center, host of the Global Gaming Expo in October and other major events.
“The team has brought creativity and safety together for some truly innovative events recently,” said Chandra Allison, senior vice president of sales at the Venetian Resort Las Vegas. “The last couple of years have solidified the need for in-person meetings and events. As an industry, we need to continue to advocate for the positive impact in-person meetings have on communities and how they bring people together.”
There have already been successes. The 2021 SEMA Show, an automotive trade show, garnered more than 100,000 attendees for its November show at the Las Vegas Convention Center.
“The event marked the first automotive industry-wide gathering since the pandemic hit, and it did not disappoint,” said Tom Gattuso, vice president of events for SEMA. “In addition to the business that takes place every year at the SEMA Show, the 2021 event was a unique celebration for uniting the automotive aftermarket industry. Las Vegas continues to support our industry in a way that no other city could.”
After three cancellations, the National Association of Broadcasters is holding its convention April 24-27 at the Las Vegas Convention Center. It historically brings in 90,000 to 100,000 visitors.
