Hospitality sector to dip after Las Vegas Shooting
Las Vegas is arguably one of the most popular tourist destinations in the United States, with conventions and casinos bringing more than 42 million visitors to The Strip every year, according to data from the Las Vegas Conventions and Visitors Authority.
However, the massive influx of tourists may radically change following the tragic events of the Las Vegas shooting last month.
It’s hard to quantify the impact the shooting will have on Nevada tourism but analysts have stated that Las Vegas will experience a short-term drop in the aggregate number of visitors. Analysts from the investment bank Morgan Stanley said that the shooting will decrease demand which consequently will have a 4-6% negative effect on Las Vegas’ economy.
Since the event, there has been an overall increase in security. But a stronger police presence alongside the introduction of hand-held metal detectors in hotels may have a counterproductive effect in the hospitality sector.
Speaking to the news outlet ABC, Michael McCall, Professor of Hospitality Business at Michigan State University said hotels must make their guests feel valued and comfortable.
“You don’t want it to become a sort of ground zero military-type of operation, people are going there largely for fun,” McCall emphasised.
So far, industry giant MGM hasn’t announced any major cancellations while Caesars said all the properties are running as planned.
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