LAS VEGAS (KSNV) — The local tourism and hospitality industry is eagerly anticipating the release of new visitor numbers this Friday, which will indicate whether the region is experiencing a rebound or if the current tourism slump persists.
Steve Wolford, who hosted a tourism town hall earlier today, gathered industry insiders to discuss the reasons behind the slump and potential recovery strategies.
Among the participants was Jeremy Aguero from Applied Analysis, who has collaborated with major entities like Allegiant Stadium and T-Mobile Arena.
Aguero emphasized the resilience of Las Vegas, noting, “This is not close to the most difficult period we’ve had, but it’s certainly a new one, and that period is immediate, and I think everybody wants to find the cause, right? The single thing that’s causing it to happen. And I don’t think there’s even such a thing out there. I think there’s a multitude of factors.”
He identified factors such as record-high debt levels among Americans and low consumer confidence since the onset of the pandemic. Additionally, international and geopolitical conflicts are influencing travel decisions.
Alan Feldman, a 30-year veteran of MGM Resorts and now the Director of Strategic Initiatives at the International Gaming Institute at UNLV, echoed Aguero’s optimism about Las Vegas’s ability to recover. Feldman said, “We’ve heard this before. Somewhere here around me, I can’t access it right now, I have a Life magazine from like 1947 that has – on the cover – is Vegas dead? Is Vegas done? One of the things that Jeremy has noted very specifically, we’ve had these dips and downturns periodically, but if you take a look at the last 80 or 90 years, anyone who has bet against Las Vegas has lost.”
The town hall also included insights from R-J columnist Johnny Kats and Heather Collins, known as RaisedInVegas, who shared perspectives on the local entertainment industry and feedback from locals.