New Year's Eve Boosted Profits

[vegasrocks]

I haven't seen any actual numbers yet for how much hotels in Las Vegas gained during the New Year's celebrations but I know they were predicting them to be pretty good, even with higher room rates this year over last year.

They were predicting a 4% increase in occupancy during this New Year's celebrations over last year. They said that last year around New year's was when the economy really was the lowest. People were worried about their personal finances and so they weren't willing to spend money ringing in the New Year in Las Vegas. Since then, people have become more comfortable with the economy and their own personal finances so they expected better things for Vegas and the hotels this New Year.

"Last year at this time was the tooth of the economic crisis," Selesner said. "People were really feeling concerned about their financial futures and about the direction of the country's finances. There's less fear out there this year than there was last year."

I have been reading so much about the bad effects the economy has had on Las Vegas so this is pretty good news. Well, at least it is if their predictions are right.