In what can only bode well for continuing cheap airplane tickets to Las Vegas as well as cheap vacation packages Las Vegas hotel companies are reporting positive financial results and announcing major capital investments in new and existing properties they want to upgrade.
Caesars Entertainment shared plans the week of August 15th for Project Linq, a $550 million retail and entertainment district on the Las Vegas Strip that will sport the worlds tallest Ferris wheel.
2011 has marked a steady rebound in visitor traffic to Las Vegas, the largest American hotel market. Domestic visitors have grown steadily while overseas tourists, encouraged by the relatively weak dollar, are responsible for an increasing percentage of visitors.
MGM Resorts International recently unveiled the first renovated rooms in its 2,568 room Bellagio main tower. MGM expects its $70 million room upgrade project to be completed by December.
During the first six months of 2011 Las Vegas visitor count increased by slightly over 5 percent from a year ago, to 19.5 million, resulting in hotel occupancy up almost 4 percent to 87.5 percent.
International convention business is significantly better this year in contrast to the past few years when Las Vegas hotel convention business fell off sharply in response to the recession.
Las Vegas sports 169,000 hotel rooms which is almost 50,000 more than the number of rooms in Orlando, the next largest U.S. hotel market. www.cheapfares.com