Las Vegas in 2025: A Year of Change, Challenge, and Resilience

Las Vegas, a city synonymous with excitement, entertainment, and grandeur, experienced a notable shift in 2025. With 38.5 million visitors, this marked a 7.5% decrease from 2024, reflecting the dynamic and often unpredictable nature of travel and tourism. This decline sheds light on various factors, including economic uncertainties and changing consumer behaviors.

December’s Visitor Trends

December brought additional challenges, with visitation totals reaching only 3.1 million, a significant 9.2% decline compared to the previous year. The leisure and international travel segments faced various headwinds, impacting the overall foot traffic in the city. Yet, amid these struggles, conventions played a vital role in stabilizing the tourism sector; Las Vegas welcomed 6.0 million convention attendees in 2025, nearly matching the levels of 2024 and demonstrating the enduring appeal of business events in the destination.

Hotel Occupancy and Revenue Trends

2025 recorded an average hotel occupancy rate of 80.3%, down by 3.3 percentage points from the previous year. The average daily room rate also reflected a downturn, averaging $183.52—a 5.0% decrease. Correspondingly, Revenue Per Available Room (RevPAR) indicated an 8.8% decline, landing at $147.30. Despite these declines, the average daily rate and RevPAR figures marked some of the highest on record, indicating a complex but resilient hospitality market.

Contextualizing the Challenges

When viewed within a broader historical context, 2025 showcased one of the most intricate operating environments Las Vegas has encountered outside the pandemic years. The destination still managed to fill more hotel rooms on average than any other U.S. city, boasting approximately 150,300 hotel rooms—making it not only the highest in the U.S. but second in the world. The 80.3% occupancy rate stood in stark contrast to the national average of 62.3%, emphasizing Las Vegas’s unique appeal.

Consumer sentiment evolved throughout the year, revealing a more cautious attitude, especially among value-oriented travelers. Ongoing concerns regarding international travel further shaped visitation patterns, requiring the city to adapt and remain flexible to changing dynamics.

Leadership Insights

Steve Hill, president and CEO of the Las Vegas Convention and Visitors Authority (LVCVA), emphasized the need for nimbleness in response to shifting conditions. "Las Vegas operates at a scale that few destinations can match, and 2025 required us to remain adaptable," he stated. Despite facing various challenges, the demand for conventions was steady, indicating a strong ongoing interest in hosting major events.

Highlighting Key Events of 2025

Throughout the year, Las Vegas lived up to its reputation as a vibrant hub of sports, entertainment, and significant events:

• WrestleMania 41: Held in April at Allegiant Stadium, it shattered WWE records with the largest gate in history, attracting 124,693 fans across two nights. Excitingly, WrestleMania 42 is set to return in April 2026.

• UFC International Fight Week: Taking place in June, this multi-day event confirmed Las Vegas’s status as the global heart of mixed martial arts, bringing tens of thousands of fans together.

• A’s Ballpark Groundbreaking: In June, enthusiasm surged as the groundbreaking for a new 33,000-seat ballpark marked Las Vegas’s growth in the professional sports arena, with completion anticipated for the 2028 MLB season.

• The Wizard of Oz at Sphere: This show debuted in August, and by the end of the year, it had sold over 2 million tickets, generating more than $260 million.

• Las Vegas Grand Prix: November saw the city buzzing with global attention as Formula 1 racing intertwined with high-profile cultural events, including star-studded appearances, reaching a worldwide audience.

• Wrangler National Finals Rodeo: Concluding the year with a bang, the rodeo celebrated its 40th anniversary in Las Vegas, drawing its highest total attendance since 2014, with 175,846 fans over ten performances.

A Look Ahead to 2026

As Las Vegas prepares for the upcoming year, the outlook for 2026 remains optimistic, bolstered by a robust calendar of conventions and events. The Las Vegas Convention Center is set to host around 1.2 million tradeshow attendees, an increase from 1.0 million in 2025, including the much-anticipated CONEXPO and other expanding shows.

In addition to these conventions, the city will continue to captivate visitors with marquee global events such as WrestleMania 42, the Las Vegas Grand Prix, UFC International Fight Week, and the National Finals Rodeo. Notably, increased international travel coinciding with the 2026 World Cup is also expected to contribute to a revived visitor count.

Steve Hill summed up the city’s aspirations succinctly: "Las Vegas remains a category of one… Our focus will continue to be on providing value to our visitors and delivering experiences that elevate our place as a leading leisure and business destination."