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November’s Formula One Las Vegas Grand Prix race didn’t provide the expected business lift that a few Strip properties experienced from 2023’s inaugural event.Visitation associated with the recent race was up less than 1 percent. However, hotel room rates were down more than 21 percent in the month
While Las Vegas Grand Prix weekend room rates still lag behind last year’s rates, the market appears to have stabilized.After surveying room rates for race weekend, Nov. 21-23, gaming analyst Truist Securities noted in a report last week that rates have seen a marginal improvement compared with its
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