Coronavirus created an economic nightmare and break down everywhere. Las Vegas whose economy is based on tourist attractions and casinos faced a huge loss due to this 1-year pandemic.
Due to Covid -19 all the hotels, casinos were shut. But right now, they reopened the hotel and casino this week and there were several visitors. Through this, Las Vegas is gradually reawakening from this pandemic economic nightmare.
Resorts Planet Hollywood and The LINQ Hotel + Experience have begun to operate for the whole week again starting from Monday.
Guests were accepted and received by the hotels only on the weekend because the midweek demand was low. The other two resorts now resumed to take midweek reservations and started seven-day operations.
On Tuesday, there is a reopening of Virgin Hotels Las Vegas at the renovated location paradise Road. Before summer opening Las Vegas is anticipated to hire to fill 6000 Jobs.
All these changes and development come with the light of hope for the tourism space after a long one-year slump. Last March when the 11-week shutdown started also included in this slump.
Unexpressed Demand
One of the contributing factors which increase the volume of visitors is the round play opening last weekend in the Men’s NCAA Basketball tournament. This action is responsible for bringing crowds to Las Vegas. And this is reflected through the increase in hotel room rent recently.
Moreover, the floor capacity of the gambling zone has raised to 50 percent from 35 percent in casinos last week.
Sean McBurney (who owns the LINQ and Planet Hollywood) states that the announcement of increasing the capacity in casinos encourages that Las Vegas is going to rebound beyond expectations again.
Pent-up demand is huge for casinos and it is expected that everything is going to be well and in a better direction.
This high level of expectation and optimism could be dulled if the rate of return of international travelers and conventions are slow or if the Covid-19 pandemic situation cannot be controlled. The convention is also important because people often add a day trip to Las Vegas when they come for the conventions.