Dive Brief:
- Groups flocked to Las Vegas in May, leading Sin City to outpace all other top 25 U.S. markets for events volume growth in the month, up 18.5% year over year, according to a report by hospitality technology and intelligence provider Knowland.
- Oahu Island, Hawaii, had the second-highest events volume growth in May, up 17.9% year over year. Nashville, Denver and Seattle followed in the top five, with 11.1%, 4.1% and 2% year-over-year growth, respectively.
- The technology industry was a key driver of meetings and events in several of the top growth markets, according to Knowland. Las Vegas, Oahu Island, Nashville and Seattle have ranked high for events volume growth in past months as group demand ramps up in the markets.
Dive Insight:
Technology events, including the Electronic Distributor Show at Resorts World Las Vegas, drove events volume growth in the city in May, according to Knowland. National association events also boosted growth, with groups like the International Council of Shopping Centers meeting in Las Vegas in the month.
Technology and national association gatherings drove events volume growth in Denver, Nashville and Seattle as well, Knowland found. On Oahu Island, though, growth was bolstered by weddings, as well as education and consulting events.
President and CEO of Host Hotels & Resorts James Risoleo called the island “a high demand leisure destination with consistently high occupancy [and] an internationally diverse demand base” earlier this month, after Host agreed to acquire Oahu’s Turtle Bay Resort for $725 million.
Las Vegas, Oahu Island, Nashville and Seattle topped Knowland’s list for events volume growth in March as well, outpaced only by St. Louis that month.
Las Vegas, particularly, has seen heightened group demand in recent months. The city led all other U.S. markets in group business recovery in the fourth quarter of 2023, reaching 144.1% recovery compared to the same time in 2019, according to data from Knowland and Amadeus.
Last month, Wynn Las Vegas President Brian Gullbrants said that the property was on pace to have its best year ever for group business. And Caesars Entertainment forecasted its group and convention travel will be higher this year than in 2022 or 2023.
In other markets like New York City and Dallas, heightened group demand has led to increased gross operating profit and total RevPAR in recent months.
