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Yahoo
3 days ago
- Business
- Yahoo
‘Vegas is not fun anymore': $9 cups of coffee and pricier rooms are steering travelers away from the vacation mecca
For decades, Las Vegas was considered a destination of bargains galore, offering 99-cent shrimp cocktails, $10 steak dinners and shows that cost no more than the price of a drink. But those days are long gone. Instead, think $9 cups of coffee, $100-a-person buffet spreads and a movie ticket that can set you back a whopping $279. 'Vegas is not fun anymore': $9 cups of coffee and pricier rooms are steering travelers away from the vacation mecca 'He cannot match my spending': I'm 65 and have $7 million. My boyfriend is 73. Should he release equity from his home so we can enjoy retirement? America's 63 million family caregivers are mostly unpaid, stressed and begging for help Dow left behind as S&P 500 soars to record after record. What gives? 'His income is limited': Should I pay $800 a month towards my husband's $67,000 student debt? It's prices like these that have some Vegas regulars saying the tourist and gambling mecca has lost its appeal. 'Vegas is not fun anymore,' said Amrita Bhasin, a retail-industry entrepreneur who has traveled there frequently for business as well as pleasure. Her pet financial peeve? The resort fees that hotels charge, which she said can add as much as $50 a day to the tab. Such complaints are coming at a time when Vegas has seen a sizable drop in visits. In June, hotel occupancy rates fell 14.6% versus the prior year, according to CoStar, a global provider of real-estate data, analytics and news. They were down 12.3% for the current month through July 19. Among the city's major hotel and gaming operators are such corporate giants as Caesars Entertainment CZR and MGM Resorts International MGM. Both companies declined comment for this story. Vegas tourism officials don't deny that the city is going through a dry spell, but they say it's reflective of tourism declines nationwide, particularly as foreigners hesitate to come to the U.S. 'Very little of the drop is a Vegas issue,' said Steve Hill, president and CEO of the Las Vegas Convention and Visitors Authority. Hill pointed to a significant decline in travelers from Canada as a critical factor, since Canadians have traditionally been the city's biggest international market. Specifically, Hill said the number of Canadian visitors has declined around 20% in Las Vegas. That dovetails with a broader U.S. trend, which shows a decline of nearly 19% in visits by our northern neighbors. David Cárdenas, a tourism expert who teaches at the University of Nevada's William F. Harrah College of Hospitality in Las Vegas, said foreigners are staying away from Vegas and other U.S. destinations for a host of reasons, from weak exchange rates to concerns about U.S. immigration policies under President Donald Trump. Canadians have also been particularly incensed over Trump's comments about making the country the 51st U.S. state, as has been widely reported, and that may be playing a role in their decision not to travel to the U.S. But plenty of travelers say Vegas has simply become a budget buster. And hospitality experts who know the city say the high costs are definitely a factor in the tourism slump. Philip Knott, an asset-strategy adviser and hospitality executive who has worked for companies operating and investing in Vegas, is one of those who view it that way. 'Vegas is now seen as overpriced,' he said, pointing to everything from expensive dining to hidden charges at hotels. 'All of those things are impacting booking.' Even without those hidden charges, hotels have gotten much pricier over the years. In 2015, the average daily room rate in Vegas was $124.42, according to CoStar. In 2024, it was $209.54, an increase of nearly 70%. It's not just about room rates, however. Visitors point to a variety of things that are hitting them in the wallet. Like that $9 cup of coffee, which is what you'll spend for a regular-size brew at Café Belle Madeleine, located in the Paris Las Vegas resort, a Caesars property. Or that $100 buffet, which is roughly what you'll pay for the spread on a weekend, including tax, at the Bacchanal, located at Caesars Palace. What about that $279 movie ticket? Technically, that's the price of a VIP package for what's called the Sphere Experience, a screening of the Darren Aronofsky film 'Postcard from Earth' plus a few preshow attractions at the Sphere, the $2 billion Vegas entertainment venue that opened in 2023. Even if you don't opt for the VIP treatment, a basic ticket starts at $89 for upcoming shows, according to what's listed on Ticketmaster. Officials with the Sphere didn't respond to a MarketWatch request for comment. Of course, value-conscious travelers will still find ways to save on a Vegas vacation. Lisa Nicole Jackson, a Los Angeles resident who visits Vegas about three times a year, said she always hunts for deals — and usually finds them. For example, she attended the Sphere Experience for free as part of a hotel package. Still, Jackson admits that there is the occasional reminder of how expensive Vegas can get these days. Her prime example: a $17 smoothie. Jackson also said she doesn't like the resort fees that hotels charge, especially when she feels the service and amenities aren't commensurate with the tacked-on cost. An example she cited was hotel pools that close relatively early in the day — 'like 6 p.m.,' she said of a recent experience. Vegas tourism officials say that deals can readily be found for hotels, particularly during the summer, which is considered the off-season in the city. And sure enough, one of the big deals being promoted right now by some establishments is waiving those pesky resort fees. 'We've got an offering for every budget,' said Hill of the city's Convention and Visitors Authority. As for things like that $9 cup of coffee, he said: 'You're not paying $9 for the coffee. You're paying $9 for the setting.' There's a reason that Vegas has a $9 cup of coffee, experts say, and that those $10 steak dinner deals of yesteryear are largely gone: Vegas hotels no longer rely as heavily on gambling revenue. Those steak-dinner deals were often loss leaders aimed at getting people inside to play the slots or hit the craps table. Now Vegas is about the setting, with elaborately themed hotels — yes, Paris in Nevada — along with restaurants helmed by celebrity chefs and performances by star entertainers. In the upcoming week alone, Beyonce, Kelly Clarkson and the Backstreet Boys are in town, and there are ongoing engagements by the likes of David Copperfield and Penn & Teller. The Vegas of today also demands a highly qualified workforce, one that requires good salaries and benefits, says Tony Abou-Ganim, a renowned bar professional who's been based in Vegas for more than 20 years and is now a managing partner at Libertine Social, a craft cocktail establishment at Mandalay Bay. 'It takes a $9 cup of coffee to provide that,' said Abou-Ganim. 'In turn, hopefully the guest experience is elevated.' But experts say there's no disputing that such costs can make Vegas seem out of reach for many middle-class travelers — the very same vacationers who helped put the city on the tourism map. As for Bhasin, the entrepreneur who has been a Vegas regular, she's fairly certain she'll be cutting back on her trips to the city, in large part because of the cost. Her next vacation there is with family, but she says the plan is actually to visit national parks far from the famed Vegas Strip. 'The only reason we're flying into Vegas is because the flight was cheaper,' Bhasin said. My ex-husband's benefit will be $2,600 at retirement age, and mine is $2,200. Can I claim on his record instead? 'If I was writing the checks at Coke, I wouldn't write the check for this,' one expert says about cane-sugar Coke Homeowners in these states are the winners if Trump ends capital-gains taxes for home sellers Newly built homes are cheaper than previously owned homes as builders ramp up price cuts Social Security Administration quietly corrects blog on taxation of benefits — but confusion persists Solve the daily Crossword
CNET
6 days ago
- Entertainment
- CNET
I Tried AI as My Astrologer. It Told Me Something Profound
If you're cosmically inclined, in tune with all the retrogrades and speak in star signs, you'll love an artificial intelligence-generated interpretation of your natal chart. This is one of the most fun use cases of AI. Birth charts are notoriously difficult to interpret but ChatGPT can help you make sense of it and allow you to ask specific questions about your reading. You can use AI as a self-discovery tool, to supplement therapy sessions, as a tarot card reader and to get career guidance. Have a conversation with your higher self, with ChatGPT. While you should avoid making any major life decisions from this conversation alone (especially during Mercury Retrograde), it can serve as a mirror to better understand yourself. Get a down-to-earth birth chart analysis using AI. (Disclosure: Ziff Davis, CNET's parent company, in April filed a lawsuit against OpenAI, alleging it infringed Ziff Davis copyrights in training and operating its AI systems.) Prompt your way to future predictions Because AI is known to convincingly hallucinate -- that is, make things up based on bad information on the internet -- it's better to get your natal chart from a specific astrology website so you know it's accurate, then feed the report into ChatGPT. There are plenty of websites out there, like Café Astrology and Co-Star. You'll need to input your location of birth, date of birth and time of birth. Make sure the time is right, because guessing it will skew the results. These websites usually generate long reports so I downloaded the PDF option. I ended up using Café Astrology because Co-Star didn't have a PDF download option. Over to ChatGPT to help me decipher what this means: Café Astrology/Screenshot by CNET First, I asked ChatGPT to give me a tailored astrology reading based on my birth chart, then attached the PDF. The devil is in the details with astrology and out of the gate, ChatGPT got an important detail wrong: it switched around my birth month/day (I think because I wrote it in the American format but said I was born in Australia -- so it read the date in the Australian format). I corrected it and it generated a new chart. First of all, I love how ChatGPT describes what the dominant houses mean. For example, your rising sign is how the world sees you vs. your sun sign, which is how you see yourself. My sun sign is in Taurus, so I crave loyalty, longevity and consistency, yet my moon sign (emotional world) is Sagittarius, so I need freedom and variety. I asked which part of me is more important to nurture -- the security or the freedom -- based on my chart. This is where AI shines, because you can't have a conversation like this with a PDF chart (and it would cost a lot of money to have a conversation with an astrologist). Here's what it said: ChatGPT/Screenshot by CNET ChatGPT/Screenshot by CNET ChatGPT shared a powerful perspective I hadn't considered: My need for stability vs. adventure aren't opposites but rather complementary. But I need a secure foundation in order to feel free. I always thought of it as a battle but, in fact, I can have both. The foundation enables freedom. Pretty insightful stuff. I like how it breaks down action steps to tend to both sides of my psyche: ChatGPT/Screenshot by CNET Next, I asked what's interesting about my chart that's not obvious to me. ChatGPT revealed that my need for security vs. surprise also comes through in my love life. I need love to feel surprising and non-traditional, even if I crave long-term connections. It even told me about how I interpret and show love. ChatGPT/Screenshot by CNET Not surprised that banter is important, as Aussies love good quips. It also picked up that I require freedom and impact in my work, even suggesting women's health advocacy, which is a growing passion of mine (after coming out and trying to conceive via IVF). ChatGPT even touched on past-life tendencies and then gave me some themes for the year: ChatGPT/Screenshot by CNET Relinquishing timelines -- a powerful lesson for me this year, as I navigate infertility. As I chatted with my AI astrologer, two big questions came up for me: What the second half of 2025 will bring. When I'll get pregnant. Here's some of my reading, which was filled with an impressive amount of info and predictions: ChatGPT/Screenshot by CNET It also gave me a "thematic timeline" for the rest of the year, and "themes to lean into." Can AI use astrology to predict your future? I asked ChatGPT when I will get pregnant and, to its credit, it said it can't predict exact events. One point for ethics! But it can help identify windows of emotional readiness, karmic timing and cosmic support based on my chart and current planetary transits. Here's what my AI astrologer predicts: ChatGPT/Screenshot by CNET ChatGPT/Screenshot by CNET I asked one final question: When should I do an embryo transfer based on my transits? It gave me two windows: Oct. 28-Nov. 22, 2025, and Feb. 7-Feb. 20, 2026. It described why those windows would be strong according to the planets and stars, and which would be the best transfer days within those windows. I even asked what was happening in June, when my latest embryo transfer failed. It explained what was going on in the planets and how the Capricorn Moon isn't a fertile placement. I ended the chat here on a high note: ChatGPT/Screenshot by CNET The verdict? Time will tell whether this comes true but I felt empowered and excited about my future after my AI astrology session. I won't be surrendering all control to the cosmos (or ChatGPT for that matter), but it's an insightful exercise to add to your self-discovery toolkit.
Business Wire
6 days ago
- Business
- Business Wire
CoStar Group Names Grant Montgomery as National Director of Multifamily Analytics
ARLINGTON, Va.--(BUSINESS WIRE)--CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, analytics, and 3D digital twin technology in the property markets, announced today the appointment of Grant Montgomery as National Director of Multifamily Analytics. The hire will augment the company's already powerful analytics across the U.S. multifamily sector, adding value for CoStar Group clients and the commercial real estate industry as a whole. In his new role, Montgomery will serve as CoStar Group's industry-facing representative for the multifamily sector, delivering the company's data-driven perspective and outlook on the market. As CoStar Group's subject matter expert on all multifamily themes, trends, and topics, Montgomery will use his extensive knowledge to uphold CoStar Group's commitment to providing quality analytics and insights for clients and the industry. 'We are thrilled to have Grant, a demonstrated, multi-faceted researcher, leader and strategic advisor, join the team,' said Galina Alexeenko, Vice President, CoStar Group Market Analytics. 'Grant's vast experience in real estate research and operations, coupled with CoStar's unparalleled multifamily data and analytics, will provide our clients with insights into the multifamily market's key trends and developments. We welcome this outstanding addition to CoStar Group's analytics team.' Montgomery joins CoStar Group with more than 25 years of real estate research and consulting experience. Previously serving as Vice President of Research for Elme Communities, Montgomery led the development of strategic quantitative market analysis that supported the company's transformation into a multifamily REIT, directly influencing portfolio strategies. Prior to his time at Elme, he served as Senior Vice President and Apartment Practice Director at Delta Associates, delivering critical insights into market conditions to developers, lenders, and public agencies. Montgomery is a frequent speaker at industry events on multifamily market conditions. About CoStar Group CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world's real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives. CoStar Group's major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; the leading platform for apartment rentals; and the fastest-growing residential real estate marketplace. CoStar Group's industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible, STR, a global leader in hospitality data and benchmarking, Ten-X, an online platform for commercial real estate auctions and negotiated bids and OnTheMarket, a leading residential property portal in the United Kingdom. CoStar Group's websites attracted over 141 million average monthly unique visitors in the second quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit
AU Financial Review
7 days ago
- Business
- AU Financial Review
ACCC interest in REA an ‘excellent opportunity' for Domain: CoStar
An investigation by Australia's competition watchdog into News Corp-controlled real estate giant REA Group is an 'excellent opportunity' for its rival Domain to claw back market share, the chief executive of its new owner has said. Andy Florance, the chief executive of $US84 billion ($55 billion) real estate giant CoStar, told investors during an earnings call that he expected the company to take ownership of property sales portal Domain before the end of September.
Yahoo
21-07-2025
- Business
- Yahoo
US hotel room construction hits 20-quarter low: CoStar
This story was originally published on Hotel Dive. To receive daily news and insights, subscribe to our free daily Hotel Dive newsletter. Dive Brief: The volume of U.S. hotel rooms under construction decreased year over year for a sixth consecutive month in June, according to new CoStar data. As of last month, there were 138,922 U.S. hotel rooms under construction, a 20-quarter low, according to Isaac Collazo, senior director of analytics at CoStar subsidiary STR. The volume of rooms under construction decreased 11.9% year over year in June, per CoStar. The continued decline is not surprising given 'hotel demand trending downward, unrelenting economic uncertainty and rising construction costs,' Collazo said. Most of the rooms under construction are in the upscale and upper upscale segments, which STR previously forecasted would see the highest RevPAR growth this year, driven by changing traveler behavior. Dive Insight: The volume of U.S. hotel rooms under construction has decreased each month since January, coinciding with President Donald Trump's second term. In those months, U.S. government actions have caused economic uncertainty, and tariffs have negatively impacted construction pipelines. The volume of U.S. hotel rooms in final planning (266,276 rooms) also decreased year over year in June, albeit only by 0.1%, according to CoStar. The number of U.S. hotel rooms in the planning stage (349,802 rooms), meanwhile, increased 4.8% year over year in the month. The majority of rooms in the U.S. hotel construction pipeline are in these two planning phases, but 'many will likely not be built in the near future,' Collazo said. Of rooms currently under construction, the majority are in the upscale and upper upscale segments, according to Collazo, who also noted that more than half of all rooms under development are in the South, largely outside of the top 25 markets. Higher-tier hotel segments were a bright spot for the industry last year, driving performance as high-income households prioritized travel. That trend has continued, with high-income households anticipated to make up nearly half of travelers this summer, Deloitte reported in May. Ahead of this year's Memorial Day weekend, travel outlooks appeared mostly stable despite a dip in consumer confidence and dampening international visitation. Last month, however, CoStar and Tourism Economics downgraded their 2025 and 2026 growth projections for U.S. hotel top-line performance metrics, citing elevated macroeconomic concerns. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
