{"id":103076,"date":"2019-04-15T12:00:51","date_gmt":"2019-04-15T19:00:51","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=103076"},"modified":"2019-04-16T08:33:38","modified_gmt":"2019-04-16T15:33:38","slug":"las-vegas-strip-casinos-feel-revenue-pinch-from-airbnb-growth","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/las-vegas-strip-casinos-feel-revenue-pinch-from-airbnb-growth\/","title":{"rendered":"Las Vegas Strip Casinos Feel Revenue Pinch From Airbnb Growth"},"content":{"rendered":"

Casinos on the Las Vegas Strip are estimated to have lost around $150 million in room revenues due to accommodations booking service Airbnb.<\/p>\n

\"Las
Airbnb offers an abundance of properties for rental on and around the Las Vegas Strip. (Image: Airbnb)<\/figcaption><\/figure>\n

In a study conducted by Telsey Group Advisory \u2013 a research firm headquartered in New York City \u2013 casino resorts missed out on $150 million due to Sin City travelers booking through the online booking service.<\/p>\n

\n

Over the past few years, Airbnb has seen explosive growth in Las Vegas and the recent Google search trends suggest this will only continue in the near-term,” Telsey analyst Brian McGill said in a recent note. The Las Vegas Review-Journal<\/i> first reported the findings. “This is a major problem during periods of peak demand that seems to have impacted the rates.”<\/p>\n<\/blockquote>\n

McGill referenced the Super Bowl weekend and CES annual trade show as two examples of peak periods.<\/p>\n

According to Airbnb, there are around 6,500 rental units in Nevada, and most of them are in the southern region of the state. A search for the first week of June for a party of four in Las Vegas turned up more than 1,000 options.<\/p>\n

Las Vegas is home to more than 149,000 hotel rooms. They were occupied at a rate of 88.2 percent last year.<\/p>\n

Booking Las Vegas<\/b><\/h2>\n

The Las Vegas Convention and Visitors Authority (LVCVA) released its 2018 Visitor Profile last week<\/a>, and in it revealed some surprising statistics. The average nightly rate<\/a> for a guestroom last year was $113.66, which is about the same as 2017.<\/p>\n

Sixty-two percent of all guests who handled their own booking used the internet to reserve their rooms. Twenty-one percent went directly through the casino resort’s website, while 41 percent used a third-party site.<\/p>\n

Just 15 percent used a telephone to make their Las Vegas reservations.<\/p>\n

\n

Ted Newkirk, the founder of Access Vegas \u2013 a website featuring tourism information for visitors \u2013 told the RJ <\/i>that Airbnb is an alternative for those who have become disgruntled with higher resort fees, the elimination of free parking, and other added costs.<\/p>\n<\/div>\n

“Airbnb is a winner for the drive-in customer who is tired of nickel-and-diming. They avoid resort and parking fees, they can ride-share to the Strip or park at one of the free garages, grab supplies at a local store and eat in local restaurants. The combination of those savings really adds up,” Newkirk explained.<\/p>\n

Airbnb Extravagances <\/b><\/h2>\n

Among the listings for a weeklong stay in Las Vegas in early June are several first-rate properties available for occupancy.<\/p>\n

A 4,000-square-foot penthouse overlooking the Las Vegas Strip featuring two bedrooms, and 2.5-baths is listed for $1,003 per night. For the week including cleaning and service fees, the booking will cost $8,269. The residency features an “over-the-edge” outdoor jacuzzi with views of the gambling mecca.<\/strong><\/p>\n

For those in need of more space, a tropical retreat located five minutes from the Strip offers more than 6,000 square feet of living space, 120″ projection television, 52-foot-long pool, and five bedrooms that can accommodate as many as 16 guests.<\/p>\n","protected":false},"excerpt":{"rendered":"

Casinos on the Las Vegas Strip are estimated to have lost around $150 million in room revenues due to accommodations booking service Airbnb. In a study conducted by Telsey Group Advisory \u2013 a research firm headquartered in New York City \u2013 casino resorts missed out on $150 million due to Sin City travelers booking through […]<\/p>\n","protected":false},"author":25,"featured_media":103081,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,33810],"tags":[],"acf":[],"yoast_head":"\nLas Vegas Strip Casinos Feel Revenue Pinch From Airbnb Growth<\/title>\n<meta name=\"description\" content=\"Casinos on the Las Vegas Strip are estimated to have lost around $150 million in revenues due to accommodations booking service Airbnb.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/las-vegas-strip-casinos-feel-revenue-pinch-from-airbnb-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Las Vegas Strip Casinos Feel Revenue Pinch From Airbnb Growth\" \/>\n<meta property=\"og:description\" content=\"Casinos on the Las Vegas Strip are estimated to have lost around $150 million in revenues due to accommodations booking service Airbnb.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/las-vegas-strip-casinos-feel-revenue-pinch-from-airbnb-growth\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-15T19:00:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-04-16T15:33:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/04\/Screen-Shot-2019-04-15-at-4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1643\" \/>\n\t<meta property=\"og:image:height\" content=\"1100\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O'Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O'Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-strip-casinos-feel-revenue-pinch-from-airbnb-growth\/\",\"url\":\"https:\/\/www.casino.org\/news\/las-vegas-strip-casinos-feel-revenue-pinch-from-airbnb-growth\/\",\"name\":\"Las Vegas Strip Casinos Feel Revenue Pinch From Airbnb Growth\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-strip-casinos-feel-revenue-pinch-from-airbnb-growth\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-strip-casinos-feel-revenue-pinch-from-airbnb-growth\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/04\/Screen-Shot-2019-04-15-at-4.jpg\",\"datePublished\":\"2019-04-15T19:00:51+00:00\",\"dateModified\":\"2019-04-16T15:33:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"Casinos on the Las Vegas Strip are estimated to have lost around $150 million in revenues due to accommodations booking service Airbnb.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-strip-casinos-feel-revenue-pinch-from-airbnb-growth\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/las-vegas-strip-casinos-feel-revenue-pinch-from-airbnb-growth\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-strip-casinos-feel-revenue-pinch-from-airbnb-growth\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/04\/Screen-Shot-2019-04-15-at-4.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/04\/Screen-Shot-2019-04-15-at-4.jpg\",\"width\":1643,\"height\":1100,\"caption\":\"Airbnb offers an abundance of properties for rental on and around the Las Vegas Strip. 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