Convention Numbers Stable in July
Diane Taylor -- Tradeshow Week, 9/25/2008 5:51:00 PM
When is no news good news? When the numbers indicate that so far, even with a struggling economy, convention business has not seen a fall-off in terms of numbers, compared with the same period in 2007.
In July, according to the Las Vegas Convention & Visitors Authority Executive Summary, convention attendance was .6-percent above a year earlier, and year-to-date convention attendance was .2-percent higher than in 2007 – not numbers to write home about, but perhaps better than other segments of the economy.
Although convention attendance held up in July, total visitor volume in Las Vegas decreased 4.6 percent from a year earlier. To attract more visitors, hotels have slashed prices, some 10-percent lower than this past year. As a result, the economic impact of conventions has, therefore, also declined, 3.7 percent from the same period in 2007 and 4.2 percent year-to-date.
The economic impact on gambling took the biggest hit. As one convention attendee told TSW Las Vegas, “I brought exactly half the money to spend on gambling that I brought in previous years.” In July, gaming revenue in Clark County decreased 15 percent, compared with a year earlier.
July is an interesting month for another reason – it’s the first month of the new, higher cab fares. Total monthly trips were down 5.3 percent from a year earlier, but total revenue was up 3.7 percent to an average of $13.72, almost $2 a trip, compared with a year earlier. The number of cab rides in July in Las Vegas was 2,082,833.
Among the private transport companies, a Bell Trans spokesperson who did not want to be named simply said, “We’ve taken a hit like everyone else.”
Nathan Waldschmidt of ODS Airport said his company’s business for group charters has held its own, but business from share ridership – airport shuttles and cab service through Desert Cab – was down substantially. “Fortunately, we’ve had no layoffs among our 200 chauffeurs and 200 cab drivers,” Waldschmidt added.
The only transportation beneficiary in July: the RTC 14-foot, double-decker “Deuce” buses, providing Strip transportation. In July, more than 1 million people chose the Deuce, the highest ridership since the buses were introduced in 2005. Deuce prices are $2 one-way and $5 all-day.
