Barclays on Gaming: October Las Vegas Visitation up 2.7%; RevPAR up 14.7%
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Rating Summary:
23 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays on Gaming: October Las Vegas Visitation up 2.7%; RevPAR up 14.7%
"Visitation, hotel occupancy and RevPAR in Las Vegas all continued to show growth in October. The consistently positive visitation and hotel data, combined with solid mass and high-end gaming revenue results, which were released this morning, indicate a firm recovery is underway in Las Vegas."
"Las Vegas October visitation was 3,422,074, up 2.7% year-over-year. Convention visitation was up 9.2% at 457,686 in the month. Convention visitation rose 16.1% in 3Q11 compared to a 1.4% increase in 2Q11 and 10.8% growth in 1Q11. "Leisure visitation" (total visitation minus convention visitation) was up 1.7% in October; leisure visitation was up 2.9% in 3Q11 versus +5.5% in 2Q11 and +4.0% in 1Q11."
"RevPAR increased 14.7% in October, driven by a 12.2% increase in ADR to $114.68 and a 1.9 percentage point increase in occupancy to 86.8%. RevPAR increased 16.4% in 3Q11 compared to +16.6% in 2Q11 and +16.1% in 1Q11.
"McCarran Airport traffic (enplaned/deplaned passengers) increased 4.5% to 3,744,609. Year to date, airport traffic is up 4.4%."
Some Hotel Stocks Include: MGM (NYSE: MGM), Wynn Resorts (Nasdaq: WYNN), Marriott (NYSE: MAR); Host Hotels (NYSE: HST), Starwood (NYSE: HOT) & Las Vegas Sands (NYSE: LVS)
"Visitation, hotel occupancy and RevPAR in Las Vegas all continued to show growth in October. The consistently positive visitation and hotel data, combined with solid mass and high-end gaming revenue results, which were released this morning, indicate a firm recovery is underway in Las Vegas."
"Las Vegas October visitation was 3,422,074, up 2.7% year-over-year. Convention visitation was up 9.2% at 457,686 in the month. Convention visitation rose 16.1% in 3Q11 compared to a 1.4% increase in 2Q11 and 10.8% growth in 1Q11. "Leisure visitation" (total visitation minus convention visitation) was up 1.7% in October; leisure visitation was up 2.9% in 3Q11 versus +5.5% in 2Q11 and +4.0% in 1Q11."
"RevPAR increased 14.7% in October, driven by a 12.2% increase in ADR to $114.68 and a 1.9 percentage point increase in occupancy to 86.8%. RevPAR increased 16.4% in 3Q11 compared to +16.6% in 2Q11 and +16.1% in 1Q11.
"McCarran Airport traffic (enplaned/deplaned passengers) increased 4.5% to 3,744,609. Year to date, airport traffic is up 4.4%."
Some Hotel Stocks Include: MGM (NYSE: MGM), Wynn Resorts (Nasdaq: WYNN), Marriott (NYSE: MAR); Host Hotels (NYSE: HST), Starwood (NYSE: HOT) & Las Vegas Sands (NYSE: LVS)
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