Park MGM’s Hotel Joins Other Las Vegas Resorts in Closing Midweek, Cites Low Demand
Posted on: November 3, 2020, 11:16h.
Last updated on: November 3, 2020, 11:30h.
Park MGM’s hotel on the Las Vegas Strip is closing during the middle of the week as tourism in Southern Nevada continues to slump.
Park MGM’s temporary midweek hotel closure is the result of low occupancy rates and the loss of conventions and other meetings and events during the slow holiday season, according to the Las Vegas Review-Journal. This was announced Tuesday in a letter to the staff from Anton Nikodemus, president and CEO of MGM’s Las Vegas properties.
Beginning Nov. 9, the hotel will be closed from Mondays at noon until Thursdays at noon. The gaming areas, restaurants and pool will remain open all week. NoMad Las Vegas, a luxury hotel on Park MGM’s upper floors, will continue operating throughout the week.
While we do not currently expect the midweek closures to remain in effect past December, we will continue evaluating business levels to determine how long Park MGM’s midweek hotel closures remain in effect,” Nikodemus states in the letter.
In late September, Park MGM became the first smoke free casino on the Strip. NoMad also is a smoke free property. Park MGM is near T-Mobile Arena, home of the National Hockey League’s Vegas Golden Knights. Normally, the league would be in action at this time of the year. But play is suspended because of the coronavirus pandemic.
Since the onset of the pandemic, tourism in Las Vegas has been slow to recover. In March, Gov. Steve Sisolak (D) ordered casinos and most other businesses to close. He allowed casinos to reopen June 4.
Even with the reopenings, tourism has not been robust. Arrivals and departures at McCarran International Airport were down more than 60 percent in September compared to the same month in 2019, according to the latest available figures.
Confronted with this, Bill Hornbuckle, MGM Resorts International’s CEO, said last week the company was deciding what to keep open or close.
MGM Resorts owns 10 casinos on the Las Vegas Strip, many on the west side of the resort corridor. These include the Mirage, Bellagio, and Park MGM.
“There are certain amenities, certain towers, certain brands, potentially, that could face closure from mid-November — give or take — through the holiday season,” Hornbuckle said during an earnings call with investors and analysts.
Additional Midweek Closures
Other resorts are adjusting to the slowdown in tourism by closing at least part of their operations during the middle of the week.
The LINQ Hotel and Experience and Planet Hollywood Resort and Casino are accepting weekend-only hotel room reservations until further notice. These two Caesars Entertainment properties are on the Strip.
Also on the Strip, Encore at Wynn Las Vegas has shut down its entire operation, including the hotel and casino portions of the property, on Tuesdays and Wednesdays. Encore is open only from 2 pm on Thursdays until noon on Mondays. Wynn Resorts, which owns Encore and Wynn Las Vegas, announced the midweek closure was due to low consumer demand. The company said Encore will reopen when demand increases.
Veteran industry expert Alan Feldman told Casino.org the Encore closure makes business sense.
Encore and Wynn Las Vegas are side-by-side on the Strip where the Desert Inn once stood.
“Their buildings are attached, and while they generally operate as separate entities, there is, in fact, much that can be done jointly,” Feldman said.
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