The Las Vegas Strip is slowly becoming more and more expensive, mostly on the room rates. Not only are they getting higher and higher. the resort fees are inching up also.
Cheap hotel inventory drastically declining:
What is replacing these cheap hotels?
What hotels are left that are still cheap?
What does the future look like for Cheap Hotels in Vegas?
More expensive Hotel rooms moving in the place of the cheap ones results in the remaining cheap ones being able to raise their prices since they now have less and less competition. Eventually Flamingo and Ballys will do a complete remodel and take those rooms off the cheap market. Circus Circus has to do something soon or their rooms are going to be completely unusable. The more remodeling the more cheap hotels turn into moderate priced hotels soon there will no longer be a room for under 30 dollars on or even near the strip.
Las Vegas Shows
Las Vegas Shows are also getting more and more expensive but they are also getting more and more expensive to produce. Some shows have more than 100 performers in each show. Some shows have multi million dollar stages. You can still get some good value in Half price shows but as soon as enough People find out about them, those prices will go up too.
Dining is definitely getting more expensive. There are no more 3.99 buffets. But the quality of the food is much better, the price of 39 dollars will seem like a bargain once You see what it offers.
Why is Vegas getting more and more expensive?
Most properties all over Vegas are making their money on Shows, Dining and services. Gambling is no longer the major money maker for a Hotel/Casino property. Now, the gambling is only there to get You to buy the show, the food and the room. It used to be the opposite. Free Rooms are rare these days, You have to be a big gambler to get anything free now. Once the Hotel/Casinos figured out that People were more interested in food, dining and shows they started putting more money in those items and had to charge more accordingly. The line is just as long at the Bellagio buffet for 32 dollars as it used to be for the Circus Circus buffet for 2.99 (same line, different People).
Las Vegas prices are inflating faster than inflation for sure. The only thing You can do is get Your fill of it before the prices are so high it's just not worth it anymore. Everyone is guilty, the Casinos, the City of Las Vegas, the airlines. The only thing that will bring the prices back down is another recession or until People refused to pay it. The more People that decide not to go back, they are replaced with People that do not mind paying more and enjoy the finer things that the new Las Vegas has to offer.