Las Vegas Strip hotel RevPAR fell 10.9% to $149.13 in 2025 — the largest decline of any top-25 U.S. hotel market. Yet Strip ADR held at $199.79 — still 24.5% above the U.S. national average. With 150,000+ rooms in a 4-mile corridor and occupancy still above the national benchmark, Las Vegas remains the most concentrated hotel market in the world. Here are 41 verified statistics.
- $199.79 — Las Vegas Strip ADR in 2025, down 4.3% YoY — still third-best in Las Vegas history and 24.5% above the U.S. national average of $160.54 (CoStar / Hotel Dive, January 2026).
- $149.13 — Las Vegas Strip RevPAR in 2025, down 10.9% — largest RevPAR decline of any top-25 U.S. hotel market (CoStar, 2026).
- $183.52 — Las Vegas citywide ADR in 2025, down 5% — third-best in city history (LVCVA year-end report, January 2026).
- ~80% — Las Vegas hotel occupancy in 2025, down ~3 pts from 2024’s 83.6% — still significantly above the 62.3% U.S. national average (LVCVA / CoStar).
- 150,000+ Strip hotel rooms; 170,000+ metro — the highest concentration of hotel inventory in a single geographic area in the world (LVCVA lodging inventory).
- Las Vegas accounts for approximately 3% of all U.S. hotel supply — Strip performance swings measurably move national hotel statistics (CoStar).
- LVCVA CEO Steve Hill described 2025 hotel metrics as “third-best in history” — correction from records, not collapse (Las Vegas Review-Journal, January 2026).
1. Key Performance Metrics — 2025
$199.79
Las Vegas Strip ADR in 2025 — down 4.3%, but still third-best in city history and 24.5% above the U.S. national average of $160.54 (CoStar / Hotel Dive, January 2026)
$149.13
Las Vegas Strip RevPAR in 2025 — down 10.9%, the largest decline of any top-25 U.S. hotel market tracked by CoStar (Hotel Dive, January 2026)
$183.52
Las Vegas citywide ADR across all hotel categories in 2025 — down 5% from 2024 — also the third-best in Las Vegas history (LVCVA year-end report, January 2026)
PSS Analysis: Las Vegas Hotel Premium vs. U.S. National — 2025
Strip ADR $199.79 vs. U.S. national $160.54 = +$39.25 (24.5% premium)
Strip RevPAR $149.13 vs. U.S. national $100.02 = +$49.11 (49.1% premium)
Even in its worst comparative year since 2020, Las Vegas Strip hotels command nearly a 50% RevPAR premium over the U.S. hotel market average. The “largest decline” framing in coverage of Las Vegas hotels describes performance relative to Las Vegas’s own prior records — not relative to any meaningful peer group.
Sources: CoStar / Hotel Dive (January 2026) for Las Vegas figures; CoStar U.S. national data (January 2026). Calculation and interpretation original to Personal Sedan Services.
Strip ADR $199.79 vs. U.S. national $160.54 = +$39.25 (24.5% premium)
Strip RevPAR $149.13 vs. U.S. national $100.02 = +$49.11 (49.1% premium)
Even in its worst comparative year since 2020, Las Vegas Strip hotels command nearly a 50% RevPAR premium over the U.S. hotel market average. The “largest decline” framing in coverage of Las Vegas hotels describes performance relative to Las Vegas’s own prior records — not relative to any meaningful peer group.
Sources: CoStar / Hotel Dive (January 2026) for Las Vegas figures; CoStar U.S. national data (January 2026). Calculation and interpretation original to Personal Sedan Services.
Source: LVCVA — Monthly Executive Summary of Southern Nevada Tourism Indicators
Book Your Hotel Airport Transfer — All Strip and Metro Properties
2. Las Vegas Hotel Room Inventory
150,000+
Hotel rooms on the Las Vegas Strip corridor — the highest concentration of hotel inventory in a single geographic area in the world (LVCVA lodging inventory data)
170,000+
Total hotel rooms in the Las Vegas metropolitan area including downtown, off-Strip, and locals casino properties (LVCVA lodging inventory)
8 of 10
Of the 10 largest hotels in the Western Hemisphere — all located within a 4-mile Strip corridor (LVCVA / industry data)
Myth: “Las Vegas Added Too Many Rooms and Oversupplied the Market”
Las Vegas added two major new properties in 2021–2023 (Resorts World, Fontainebleau). But Strip available room inventory tracked by LVCVA was approximately 150,000–156,000 rooms in 2024 — not dramatically higher than prior years. The 2025 occupancy decline was demand-driven (fewer visitors) not supply-driven (too many rooms). And LVCVA still projects 2026 to be the best convention year in history, which would increase demand on the same inventory.
Las Vegas added two major new properties in 2021–2023 (Resorts World, Fontainebleau). But Strip available room inventory tracked by LVCVA was approximately 150,000–156,000 rooms in 2024 — not dramatically higher than prior years. The 2025 occupancy decline was demand-driven (fewer visitors) not supply-driven (too many rooms). And LVCVA still projects 2026 to be the best convention year in history, which would increase demand on the same inventory.
Source: LVCVA — Las Vegas Lodging Inventory Data
See a Full List of Las Vegas Hotels
Las Vegas Hotel Statistics — Summary Reference Table
| Statistic | Figure | Source | Year |
|---|---|---|---|
| Strip ADR | $199.79 | CoStar / Hotel Dive | 2025 |
| Strip ADR YoY change | −4.3% | CoStar / Hotel Dive | 2025 vs. 2024 |
| Strip RevPAR | $149.13 | CoStar / Hotel Dive | 2025 |
| Strip RevPAR YoY change | −10.9% | CoStar / Hotel Dive | 2025 vs. 2024 |
| Citywide ADR | $183.52 | LVCVA year-end report | 2025 |
| Citywide RevPAR | $158.62 | LVCVA year-end report | 2025 |
| Citywide ADR YoY change | −5% | LVCVA | 2025 vs. 2024 |
| Citywide RevPAR YoY change | −8.8% | LVCVA | 2025 vs. 2024 |
| Historical ranking of 2025 ADR | 3rd best in history | LVCVA CEO Steve Hill | 2025 |
| Hotel occupancy (annual avg) | ~80%+ | LVCVA monthly data | 2025 |
| 2024 annual occupancy | 83.6% | LVCVA 2024 annual summary | 2024 |
| U.S. national ADR (comparison) | $160.54 | CoStar | 2025 |
| U.S. national RevPAR (comparison) | $100.02 | CoStar | 2025 |
| U.S. national occupancy | 62.3% | CoStar | 2025 |
| Strip ADR premium vs. national | +24.5% | PSS Analysis | 2025 |
| Strip RevPAR premium vs. national | +49.1% | PSS Analysis | 2025 |
| LV % of U.S. hotel supply | ~3% | CoStar | 2025 |
| Strip hotel rooms | 150,000+ | LVCVA lodging inventory | 2025 |
| Metro hotel rooms | 170,000+ | LVCVA lodging inventory | 2025 |
| MGM Grand room count | ~6,852 | MGM Resorts | Current |
| Venetian + Palazzo room count | 7,000+ suites | Apollo / Las Vegas Sands | Current |
| Fontainebleau Las Vegas rooms | ~3,700 | Fontainebleau Development | Opened Dec 2023 |
Frequently Asked Questions
What was Las Vegas hotel occupancy in 2025?
Las Vegas hotel occupancy averaged approximately 80%+ for full-year 2025, down approximately 3 percentage points from 2024’s 83.6% annual average. Despite the decline, Las Vegas occupancy significantly exceeded the national average of 62.3%. Source: LVCVA Monthly Executive Summary; CoStar / Hotel Dive (January 2026).
What was the average hotel room rate in Las Vegas in 2025?
The Las Vegas Strip average daily rate (ADR) was $199.79 in 2025, down 4.3% year-over-year, per CoStar data published via Hotel Dive (January 2026). The broader citywide ADR tracked by LVCVA was $183.52, down 5% — both figures represent the third-best in Las Vegas history.
How many hotel rooms are on the Las Vegas Strip?
The Las Vegas Strip corridor has approximately 150,000+ hotel rooms across approximately 30 major casino resort properties. The broader Las Vegas metropolitan area has approximately 170,000+ total hotel rooms, per LVCVA lodging inventory data.
What is the largest hotel in Las Vegas?
The MGM Grand is the single largest individual hotel in Las Vegas at approximately 6,852 rooms. The Venetian and Palazzo combined campus totals approximately 7,000+ all-suite rooms, making it the largest combined inventory. Source: LVCVA lodging inventory and property data.
What is RevPAR and what was Las Vegas RevPAR in 2025?
RevPAR (Revenue Per Available Room) = ADR × Occupancy Rate. Las Vegas Strip RevPAR was $149.13 in 2025, down 10.9% year-over-year — the largest RevPAR decline of any top-25 U.S. hotel market tracked by CoStar in 2025. Source: CoStar / Hotel Dive, January 2026.
Methodology & Primary Sources
- LVCVA — Monthly Executive Summary (hotel occupancy, ADR, RevPAR from survey sample representing 75%+ of Las Vegas hotel inventory); 2025 year-end report (January 2026)
- CoStar Group — Full-year 2025 U.S. hotel data, top-25 market analysis (January 2026, via Hotel Dive)
- LVCVA Nevada State Library publication — 2024 annual tourism summary (epubs.nsla.nv.gov)
- Individual hotel companies — Room counts from operator data and SEC filings
LVCVA occupancy, ADR, and RevPAR figures are from a survey sample representing 75%+ of Las Vegas hotel inventory. CoStar figures cover Strip upper-upscale and luxury properties. Figures may differ due to property set differences.
Press & Research Usage
Journalists and researchers may cite statistics from this article with attribution to Personal Sedan Services (psswestcoast.com) and a link to this page. Contact: (702) 248-7706.
Journalists and researchers may cite statistics from this article with attribution to Personal Sedan Services (psswestcoast.com) and a link to this page. Contact: (702) 248-7706.
