The Vegas Strip has always been home to tourists visiting Las Vegas. According to the Las Vegas Convention and Visitors Authority, nearly 75% of people who visited Las Vegas in 2016 stayed at a hotel on the Vegas Strip. In the eyes of many visitors, the Vegas Strip is Las Vegas. It’s what they see on TV and movies. It’s what they know.
When I first started visiting Las Vegas I was a 75 percenter. I only left the Vegas Strip to visit the Las Vegas Power Company. I know better now but it took awhile before I explored other parts of Las Vegas. Today I enjoy casino-hotels in downtown Las Vegas and beyond.
Much like Times Square in New York City, the Vegas Strip has always been a little more expensive than other parts of town. This hasn’t seemed to matter to most visitors since room capacities are well over 90%. The most popular hotels are often booked over 95%. Las Vegas saw a record number of visitors in 2016 and that could continue into 2017.
Casino and hotel operators are feeling themselves right now. Prices are rising, new fees are being added, and costs are being streamlined wherever they can be. New casinos aren’t opening regularly but we have news about renovations, upgrades, and expansions at existing casinos almost every week.
When a new business open it typically comes with a higher price tag than the business before. Drinks may cost a little more at new bars, dinner costs more at new restaurants, and renovated hotel rooms cost more than the older models. Business owners often pass on some of the cost of rent and construction expenses. However, it stands out today because there is so much demand and so many new businesses opening.
Why does a beer cost $2 more on the Vegas Strip than a neighborhood bar? Because people are willing to pay for it. This goes for everything from a cup of coffee to a hotel suite on the Vegas Strip. If nearly 75% of visitors to Las Vegas stayed in hotels off the Vegas Strip this might change.
Visitation could decrease in the future if prices continue to rise. Global Gaming Business recently looked into this subject as it relates to millennials. Rising prices affect everyone. Baby Boomers and some older Generation Xers have already started looking at options away from the Vegas Strip. To be fair, many of the older visitors have experienced life on the Vegas Strip and are fine with a new Las Vegas Experienced.
Price concerns are real. Monte Carlo is leaving the Vegas Strip to make way for Park MGM. The new property will aim for market prices at the top of the market. This change takes away one of the best value hotel rooms on the Vegas Strip.
Here are some lower priced hotel options if you’re a 75 percenter and must stay on the Vegas Strip. Mid-week prices for the casino-hotels range from $49-$99 on Expedia before resort fees and taxes. If you belong to a casino players club you should be able to find prices for better prices.
Casino Royale (Best Western)
Monte Carlo (If you can handle construction)
New York-New York
SLS Las Vegas (Not W Hotel Tower)
The Stratosphere (Best Western)
If you don’t mind being a few steps off the Vegas Strip Hooters and Lucky Dragon are also good value options.
Staying on the Vegas Strip is getting more expensive. While many hotels are renovating and upscaling there are still a lot of options if you don’t have a big budget. These hotels should help if you’re looking to save a few bucks on a hotel room.
If should be noted that some of the least expensive rooms are being renovated at these hotels. The lowest prices you’ll find on the Vegas Strip (or any hotel) are usually for the base, or entry level, rooms in hotels with a variety of room styles.