Las Vegas Strip Hotel Rates Tracker

Room rates on the Las Vegas strip have increased, in some cases even by double digits as witnessed by monitoring and comparing rates from September '09 to September '10, Hudson Securities reports.

The Aria has seen rates rebound, with a 17% increase in September alone. On 9/18, rooms were selling for $475, up over the $279 the week prior.

Vdara saw weekend rates climb also, but saw a decrease on the weekdays and no change in August or October quotes. One month ago Vdara offered 20% discounts but rates quickly returned or exceeded pre-promotional rate levels.

The Bellagio rates remained largely unchanged, decreasing by only $15 as August and October rates remained flat while September dipped slightly.

Wynn Resorts (NASDAQ: WYNN) and Las Vegas Sands were driven up by strong pricing increases at the premium properties. Both Wynn properties were sold out by the week in September, and MGM (NYSE: MGM) saw only a 2.4% increase, a result that was mixed in the portfolio.

Pricing traction is expected by Hudson after some lackluster trends in August '10, as the post-summer season in Las Vegas is on track. Pricing leverage reports are encouraging at the premium properties, thanks in part to the opening of the CityCenter last year.