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Vacation Rentals A Gold Mine In Las Vegas
Las Vegas, Nevada -- 2017 has been an exciting year for Las Vegas real estate. The Oakland Raiders are moving to Las Vegas and have been approved to build a new stadium for the 2020 season. Investors are wondering how the stadium will affect Las Vegas home values. 
 
In order to consider what impact the stadium will have on the local housing market, it’s important to examine what’s happening with room rates on the Las Vegas Strip. Not long ago, Las Vegas was known for cheap hotel rooms, free booze, inexpensive prime rib dinners and free valet parking. This was done to attract visitors and give them a reason to spend money in the casinos. Those days are long gone. Room rates have reached all-time highs. In February 2017, the Las Vegas Review Journal reported that the average daily room rate (the average amount resort guests pay for a night in a hotel on the Las Vegas Strip) rose 3.7 percent to $150.21. This is the highest monthly average ever compiled by Las Vegas Convention and Visitors Authority researchers. This rate topped the previous high of $146.53 recorded in April 2007. 
 
When it comes to hotel occupancy rates in Las Vegas; ... more

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