Monday, January 17, 2011

Vegas room rates - supply and demand!

The theory of supply and demand, is it really a theory?   Anyway, Las Vegas had TWO huge conventions last week that proved that the more demand you have and the less supply you can offer that hotel rates WILL go up.

With two of Las Vegas’ largest annual conventions, the Consumer Electronics Show and Adult Entertainment Expo,  in town rates have tripped at hotels and this is if you can even find a room to book!    Reports have the Palms, Caesars Palace, Cosmopolitan of Las Vegas and Wynn Las Vegas, all being sold out.  Other resorts like Palazzo are selling rooms for $600 and The Bellagio will smack you for $525. 

(The Adult Entertainment Expo expects 30,000 peeps in town)

If you wanted to book a "cheap" room places like Hooters is around $222 and the Sahara is charging $179 right now.   It's not out of the question to normally find rates for either of these from around $50 to $75 per night on normal weekends.

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