Issue link: https://digital.copcomm.com/i/875351
B M & T ••• January/February 2017 ••• www.blackmeetingsandtourism.com 22 T R AV E L DATA January – November 2016 ROOMS SOLD January - November 2016 January - November 2015 % Change vs. 2015 13,523,722 13,315,379 +1.6% ROOMS SUPPLY January - November 2016 January - November 2015 % Change vs. 2015 53,827 51,641 +4.2% MIAMI #5- AVERAGE DAILY ROOM RATE (ADR) January - November 2016 January - November 2015 % Change vs. 2015 $187.17 $191.19- 2.1% MIAMI #6- REVENUE PER AVAILABLE ROOM (REVPAR) January - November 2016 January - November 2015 % Change vs. 2015 $142.50 $149.38 -4.6% MIAMI #10 - AVERAGE DAILY OCCUPANCY January - November 2016 January - November 2015 % Change vs. 2015 76.1% 78.1% -2.6% LAS VEGAS BREAKS TOURISM RECORD, WELCOMING 42.9 MILLION VISITORS IN 2016 Convention Attendance Also at All-Time High in 2016 For the third consecutive year, Las Vegas continued historic visitation growth, setting a new all-time record. The "Entertainment Capital of the World" welcomed 42.9 million visitors in 2016, surpassing 2015's record-setting 42.3 million. "Las Vegas continues to see increased interest in the destination, and we are excited to announce that once again we are celebrating record visitation," said Rossi Ralenkotter, president/CEO of the Las Vegas Convention and Visitors Authority. "Together with our resort partners, we look forward to aggressively marketing the destination around the world to continue attracting more visitors and break the record again this year." In addition to hosting millions of leisure travelers, Las Vegas celebrated record-breaking convention visitation in 2016. The destination welcomed more than 6.3 million business travelers during the year, contributing to the overall increase in visitor traffic. The destination continues to enjoy industry-lead- ing occupancy rates with an extremely large base of nearly 150,000 available rooms. Tourism generates nearly $52 billion annu- ally in Southern Nevada and the Las Vegas valley. The industry supports nearly 370,000 local jobs, representing more than 40 percent of employment within Clark County. In 2017, the LVCVA is projecting another record, surpassing 43 million visitors for the first time. TOP 25 MARKETS: JANUARY - NOVEMBER 2016 For the months of January-November 2016, hotel room occupancy in Greater Miami and the Beaches reached 76.1 percent, one of the highest in the nation among the Top 25 Hotel Markets in the U.S. as reported by Smith Travel Research. Hotel rooms sold for the same time period increased by 1.6 percent compared to the same time in 2015, practically absorbing the +4.2 percent increase in hotel room inventory year on year. During the month of October, the destination was impacted by hurricane Matthew. Other headwinds facing the destination year to date include increase in hotel room inventory, Miami Beach Convention Center expansion and renovation, global economies, the national elections and other factors such as alternative accommodations.