Las Vegas Sands’ Domestic Hotels Post Negative REVPAR, Macau Hotels Mostly Saw Increases

The Short Take:

  • REVPAR at LVS’s Las Vegas hotels decreased by 3.2% year-over-year and its Bethlehem hotel saw a decrease of 1.3%
  • Four of the company’s five Macau hotels saw positive YOY REVPAR growth.  The leader in Macau was the Parisian Macau, which saw REVPAR growth of 14.9%
  • The biggest REVPAR decline was at the Sands Macau which saw a YOY slip of 17.5%

The revenue per available room (REVPAR) stats that Las Vegas Sands (LVS) included in its Q3 2018 earnings press release showed negative REVPAR growth in its United States hotels, but positive growth in most of its hotels in Asia.

There are two charts at the end of this article that display the REVPAR for each LVS hotel along with the year-over-year REVPAR growth rates.  First, we’ll look at some notable REVPAR related data that stuck out to us.

The domestic hotels owned by LVS posted negative REVPAR growth rates in the third quarter of 2018.  In Las Vegas, the combined REVPAR for the Venetian and Palazzo hotels was $213.  This is a 3.2% year-over-year decrease from the Q3 2017 REVPAR of $220.  At the Sands in Bethlehem, PA, the hotel saw a YOY decrease of 1.3% with REVPAR at $156, down $2 from the same quarter last year.

In Macau, four of the five LVS hotels produced positive YOY REVPAR growth.  The best performing was the Parisian Macao, with an annual growth rate of 14.9% and an REVPAR for the quarter of $154.  The Plaza Macao & Four Season has the highest REVPAR among the LVS properties.  The REVPAR during Q3 was $280, which was a 4.1% YOY increase.  The Sands Cotai Central and Venetian Macao both had YOY growth in the upper 10% range and REVPAR of $152 and $219, respectively.

The only LVS property in Macau that saw a decline in REVPAR was the Sands Macau.  This hotel’s Q3 REVPAR of $151 decreased 17.5% from last year.  The Sands Macau also has the distinction of having the lowest REVPAR of any Las Vegas Sands hotel worldwide during the third quarter of 2018.

While the Sands Macau has the lowest REVPAR among the company properties, the Marina Bay Sands has the highest.  This Singapore hotel’s REVPAR is a stunning $455.  This is a 5.3% increase from the Q3 2017 REVPAR of $432.

To recap the LVS REVPAR data for Q3 2018, here are two charts that show the REVPAR per hotel and the YOY REVPAR growth.

 

 

Be sure to also check out our article on the average daily rate (ADR) for LVS hotels in Q3.

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