Insight
MGM Resorts is observing significant strength in the luxury segment of the Las Vegas market, while mid-priced and lower-end properties remain challenged.
MGM Resorts Looks to Luxury and ‘Live Tourism’ Given Tourist Shortfall
Summary
MGM Resorts sees strong performance in Las Vegas's luxury segment while mid-priced rooms and value customers remain challenged. Strip-wide occupancy was flat at 93%, but ADR fell 4%. This indicates a bifurcated market, impacting hosts targeting different guest types.
Key takeaway