Las Vegas Sands Corporation is a casino and resort company based in Nevada in the United States, its resorts typically offer various in-house amenities, including restaurants, entertainment facilities, and malls. In 2022, the company ranked second among the
, with a value of approximately 47.1 billion U.S. dollars in revenue. Meanwhile, competitor Marriott International topped the ranking with a market value of 53.6 billion U.S. dollars. During that year, the company operated multiple properties internationally. The
in 2022 was the Marina Bay Sands in Singapore, accounting for roughly 1.68 billion U.S. dollars.
How popular are Las Vegas Sands’ hotels?
Hotel accommodation is the third biggest business segment for the Las Vegas Sands Corporation behind its casinos and malls. This is also evidenced by the company’s recent key performance indicators (KPIs). In 2022, the
occupancy rate of Las Vegas Sands by property varied. The Londoner Macao had the lowest occupancy rate at 26.9 percent, while the Marina Bay Sands had the highest occupancy rate at 93.1 percent. The
Las Vegas Sands property with the highest average daily rate (ADR) in 2022 was The Plaza Macao and Four Seasons Hotel. The luxury hotel had an ADR that amounted to a whopping 440 U.S. dollars per day that year. However, this property accounted for the third highest
revenue per available room (RevPAR) of Las Vegas Sands hotels worldwide in 2022 at 121 U.S. dollars. The property with the highest RevPAR in 2022 was the Marina Bay Sands in Singapore at 393 U.S. dollars.
How successful is the casino hotel market in the U.S.?
The
coronavirus (COVID-19) pandemic dramatically impacted the casino hotel sector in the United States. In 2020, the sector’s market size plummeted to around 47 billion U.S. dollars, down from the previous year’s total of 77.3 billion U.S. dollars. Despite the pandemic’s impact on the sector, the
market size of the casino hotel sector in the U.S. was forecast to largely resume its pre-pandemic levels and grow to over 73 billion U.S. dollars in 2022. That same year, the
number of businesses in the casino hotel sector in the U.S. was forecast to reach an all-time-high of 360. Unlike the market size of the casino hotel sector, the number of businesses in the sector remained largely unaffected by the pandemic. Similarly, the
number of employees in the casino hotel sector in the U.S. has experienced growth since 2020. In 2022, employment was forecast to reach nearly 602 thousand, up from the previous year’s total of roughly 507 thousand.
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