Editor's Note: Some linked articles may be behind subscription paywalls.
1. Tropicana To Be Demolished for Ballpark
The Tropicana Las Vegas hotel and casino will close April 2 and be demolished to make way for the ballpark that will house the soon-to-be relocated Oakland Athletics, the Associated Press reports. The $1.5 billion ballpark is expected to open in 2028.
“Bally’s looks forward to the development of a new resort and ballpark that ... will become a new landmark, paying homage to the iconic history and global appeal of Las Vegas and its nearly 50 million visitors a year,” the company said in a news release.
The Tropicana opened in 1957 and earned the nickname the "Tiffany of the Strip" for its opulence, the AP reports. Every hotel room had a balcony. The property had ties to organized crime in the years after its opening, but it was also well known for its place in popular culture. It was featured in the film "Viva Las Vegas," and it was where magicians Siegfried Fischbacher and Roy Horn got their start. Stars Sammy Davis Jr., Louis Armstrong and Gladys Knight performed at the Tropicana as well.
2. Major Events Drive Las Vegas Tourism
The buildup of major events, attractions and new sports teams have created a boom time for Las Vegas and its hotel industry, reports HNN's Dana Miller in a podcast interview with CoStar's Michael Petrivelli and Emmy Hise. The November Las Vegas Grand Prix alone generated nearly $220 million in room revenue, and the city has a deal with Formula One to host the race for nine more years.
Resorts World Las Vegas Chief Marketing Officer Ronn Nicolli said in a separate interview that his property has been gearing up for the Feb. 11 Super Bowl for months.
"F1 was a great example of the learnings that we have from previously in the year to really put together a great footprint with different activations. We're looking at that similar model for Super Bowl," he said. "When we start talking about the ideation and planning around sporting events in Las Vegas and how we can create Resorts World as a hub, it comes down to walking through that consumer journey and understanding what we can do better."
3. Nebraska Reaches Settlements Over Hotel Fees
Nebraska's attorney general has reached a settlement with Hilton regarding the disclosure of mandatory fees, according to a news release. The state's attorney general has reached similar settlements with Marriott International, Omni Hotels & Resorts and Choice Hotels International.
The settlements with these hotel chains focus on "drip pricing," the practice of gradually disclosing hotel fees during the booking process instead of the total cost of a stay on the first page, according to the release.
In these settlements, the hotel companies have committed to disclose the total price of a stay, including room rate and all mandatory fees, on the first page of the booking website as part of the total rate.
4. Japan Hotel Stays Rebound
Hotel stays in Japan grew by 31.8% year over year through 2023 to 593.51 million, nearly reaching pre-pandemic levels, Kyodo News reports from government data. Tourism grew in the country due to a weaker yen and the lifting of pandemic-related restrictions.
The number of stays from international inbound travelers grew from about 16.5 million people in 2022 to 114.18 million last year, according to the article. Stays by domestic travelers grew 10.5% year over year to 479.33 million.
5. Fewer US Workers Quit in 2023
The latest data from the U.S. Department of Labor shows the number of employees who quit in 2023 dropped by 12%, the Wall Street Journal reports. The quit rate was much higher in 2021 and 2022 when companies faced labor shortages and offered higher raises and bonuses to attract and retain workers.
Over the past year, there have been high-profile layoffs, smaller wage increases and fewer job openings by comparison, the newspaper reports. The slowing quit rate could be a sign employees feels less confident in being able to find a new job, or it may be that they are happier with their current jobs.