Hotel Rates Drop Due to Pricey Pacquiao vs. Mayweather Fight
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The excitement for the superfight between Manny Pacquiao and Floyd Mayweather has engulfed the sports world, but travelers are not flocking to Las Vegas as many tourist experts expected due to high ticket prices and limited viewing options.
According to Erik Matuszewski of Bloomberg.com, the average price of a hotel room in Las Vegas for Saturday night’s boxing match has dropped $150 because fans understand it will be very difficult to witness the fight live.
Tickets for the event itself and the multiple viewing parties around the city sold out quickly, and attending the fight in the building will cost fans just under $3,600 dollars for the cheapest seats on re-sale website StubHub.com.
With that price being far too expensive for most boxing fans, viewing the event on pay-per-view is one of the only other options. Unfortunately, MGM Resorts—the MGM Grand Garden Arena will host Pacquiao vs. Mayweather—has exclusive rights to show the event live.
For visitors to Las Vegas, that means the only casinos, hotels and sportsbooks that will be showing the superfight will be the 13 MGM Resorts properties across the city.
Vegas.com business development manager, Vanessa Doleshal, told Bloomberg.com that the average hotel rate in Las Vegas was hovering around $420, but the website has seen a jump in cancellations in the days before a penalty could be applied.
Another possible reason for the lack of tourists making their way to Las Vegas is the timing of the fight. Other sporting events including the NFL Draft, Kentucky Derby, NHL and NBA playoffs and several marquee baseball games are pulling fans in different directions.
Between the expensive tickets and the exclusive rights MGM Resorts hold for the PPV, there is no question that hotels and resorts in Las Vegas are not selling out like many expected. For non-sports fans who want to visit Vegas, the cheaper rates could be a major coup.
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