H&LA’s recent research for a project in Las Vegas, Nevada revealed some exciting new hospitality-related developments happening in the area. These developments will have an impact on tourism, employment, and the general economy in Las Vegas and the surrounding areas in 2021 and beyond. On-going pandemic concerns may alter timelines for some of these projects.
- As one of the world’s top tourism destinations, Las Vegas continues to see a significant amount of hospitality development each year. According to the Las Vegas Convention and Visitors Authority (LVCVA), $3.9 billion worth of construction was completed at the area’s resorts and attractions in 2020, with another $4.5 billion scheduled to be finished by the end of 2021. Based on projects tracked by the LVCVA, the area is expected to see over $15.7 billion worth of total investment over the next five years, leading to the addition of approximately 12,500 new hotel rooms and over 1.2 million square feet of convention space.
- Allegiant Stadium, a new 65,000-seat domed stadium for the Las Vegas Raiders of the NFL, opened in Paradise, Nevada, in August of 2020. Located just off Interstate 15 near McCarran International Airport, the new stadium represents a total investment of approximately $2 billion. In addition to the Raiders, Las Vegas also welcomed the Vegas Golden Knights of the NHL in 2017 and the Las Vegas Aces of the WNBA in 2018.
- A new immersive entertainment attraction called AREA15 opened one mile west of the Las Vegas Strip in September 2020. This unique 126,000-square-foot facility now features walk-through art installations, as well as multiple bars, a restaurant, an arcade, an axe-throwing lounge, indoor golf simulators, and an indoor flight simulator. In 2021, AREA15 opened a new 190,000-square-foot outdoor event space called The Grounds, which will be used for concerts, festivals, and other large-scale events.
- The latest round of a long-range, multi-phase expansion was completed at the Las Vegas Convention Center district in December 2020. At a total reported cost of $980 million, this project added 750,000 square feet of total convention space, with 600,000 square feet of exhibit space and 150,000 square feet of meeting room space.
- A new underground transportation system called the Las Vegas People Mover opened in December 2020, designed to carry passengers to various sites along a 1.7-mile tunnel underneath the Las Vegas Convention Center complex. This $49 billion project represents the first phase of a long-range tunnel project planned by Elon Musk’s The Boring Company. As envisioned, the Las Vegas People Mover will extend the entire length of the Las Vegas Strip, with stops at major casino resorts, Allegiant Stadium, and McCarran International Airport.