Las Vegas, Nevada 2020-11-21 01:18:00 –
Las Vegas (KLAS) — COVID-19 continues to impact the economy, forcing the Las Vegas hospitality industry to make some major adjustments.
MGM Resorts International has announced that the hotel tower will be shut down in Mirage and Mandalay Bay during the Monday-Thursday week starting November 30th. The company states that this decision is due to its overwhelming share of the pandemic.
“That’s not surprising,” said hospitality expert and UNLV gaming historian David Schwartz. “The important thing here is that only the hotel is closed.”
He says the good news is that both resorts will continue to operate their casinos and restaurants. Park MGM has already done so after the property announced the hotel’s mid-week closure earlier this month.
“Other facilities are still open and MGM has many hotels on the Strip, so we can redirect those people to other hotels,” Schwartz said.
MGM Resorts International says it doesn’t think the closure will be too long. Brian Ahan, Director of Media Relations, sent the following statement to 8 NewsNow:
“We constantly evaluate occupancy rates and adjust operations accordingly. Due to low occupancy rates on weekdays, we have decided to temporarily close the Mandalay Bay and Mirage Hotel Towers from November 30th. Decided. Casinos, restaurants and other facilities are open on weekdays. Currently, we do not expect the hotel to close in the middle of the week beyond December, but we will continue to evaluate the business level. And determine its validity period. “
However, Schwartz says demand depends on how the pandemic occurs.
“If the vaccine is deployed and effective, I think it will be a big boom for travel,” he said.
Many accommodations still offer low rates. Therefore, even with the surge in COVID-19 cases and hospitalizations in Nevada and Clark County, business experts say price is important for large numbers of visitors.
“I think people will continue to come,” said Christina Lorusso, owner of Lorusso Forensics. “The level of supply and demand is based on the amount consumers are willing to pay.”
It’s unclear when the Las Vegas economy will recover, but Schwartz says one thing is clear.
“The city and the people of the city, more importantly, have always bounced back.”
Last month, Win and Angkor announced the suspension of all weekday operations due to low post-pandemic demand. Experts say more resorts could follow if there is no immediate progress in the fight against the coronavirus.