Rates for hotel rooms during NFR already skyrocketing

The 2019 National Finals Rodeo is spurring some high room rates.

With more than 100,000 expected to show up between Dec. 5 and 14 for this year’s rodeo, room rates for hotels both on and off the Strip are starting to experience surge pricing.

According to Hotels.com, some properties are charging three times as much for a room the night of Dec. 7 compared with just two weeks later on Dec. 21.

Casino operators say the surge pricing has an easy explanation: supply and demand.

“Las Vegas is such a dynamic market that continues to grow,” said Tim Kuykendall, general manager at the Las Vegas OYO hotel-casino. “When we have major events in the city, the demand for rooms creates compression and drives room rates throughout the city.”

According to Hotels.com, the property, located near the Las Vegas Strip, is charging $135 for a room on Dec. 7, during the rodeo. Two weeks later, the rate drops to $29 a night.

Kuykendall expects all 657 rooms in the OYO hotel — with the majority of hotel rooms in the Las Vegas market — to be sold out during the event. The NFR will be held at the Thomas and Mack Center, about 2 miles off the Strip.

The surge pricing is happening across the Las Vegas Valley. A stay at the MGM Grand is $288 on Dec. 7, $221 more than a stay on Dec. 21. And Harrah’s is charging $155 on Dec. 7, compared with $39 just two weeks later.

Other hotel-casinos have already sold out of rooms. The South Point — known for its equestrian center — booked all 2,163 rooms during last year’s National Finals Rodeo.

The property is one of the rodeo’s sponsor hotels and hosts NFR-related events, including viewing parties, an NFR Bucking Horse & Bull Sale on Dec. 5 and a “gold carpet” welcome reception.

“It’s our busiest two weeks of the year,” South Point General Manager Ryan Growney said. Owner Michael “Gaughan has always taken care of cowboys. … (When people are) here for the Super Bowl of rodeos, they’re going to gravitate toward us.”

Rates at the South Point sold for $119 per night midweek and $159 during weekends during the event.

The NFR, the season-ending championship for the Professional Rodeo Cowboys Association, has been in Las Vegas since 1985 and will remain in the city until at least 2024. Last year, 169,171 people attended the rodeo, concerts and other events on the Strip and downtown.

The event will have 10 go-rounds, each of which run from 6:45 to 9 p.m. Each go-round is set to be aired on CBS Sports Network and streamed on ProRodeoTV.com.

Contact Bailey Schulz at bschulz@reviewjournal.com or 702-383-0233. Follow @bailey_schulz on Twitter.