Tuesday, February 15, 2011

Aria Finding its Niche?

After being open for slightly over a year, it looks like Aria has settled in and is beginning to find some success.

It was revealed in MGM's fourth quarter earnings conference call that occupancy at Aria was at 80% for the quarter. That number was actually down from 82% in the third quarter, but the average room rate went up from $175 to $190.

2011 is shaping up to be even better as CES, Chinese New Year and the Super Bowl were very successful for Las Vegas. The opening of Cosmopolitan has also proved to be beneficial for CityCenter, as foot traffic has increased.

It also appears that visitor reviews on travel websites have been a lot more positive than when Aria first opened. It looks like some of the service issues that plagued Aria have been remedied.

It will be interesting to see if Aria can increase occupancy while maintaining the $190 room rate and relatively high customer satisfaction.