Las Vegas hotels set a record for monthly average daily rate (ADR) in November.
According to a report from the Las Vegas Convention and Visitors Authority (LVCVA) released Thursday, Las Vegas ADR hit an all-time monthly high of $249.31 in November, a 33.7% increase from the same month last year.
Concurrently, revenue per available room (RevPAR) for the month was up 34.8%, to $204.18.
The LVCVA credited events like the Specialty Equipment Market Association (SEMA) trade show in early November and mid-November's Formula One Las Vegas Grand Prix with helping to drive both ADR and RevPAR gains.
Hotel occupancy for the month rose 0.7 percentage points year-over-year, coming in at 81.9%, while total visitor volume was up 0.8% from November 2022, exceeding 3.29 million.
The LVCVA also reported that convention attendance increased 2.7% year-over-year, nearing a total of 600,000 attendees.
