Palazzo temporarily closes hotel tower amidst low occupancy
The Palazzo at the Venetian Resort is temporarily closing its hotel tower after the property struggled to fill rooms amidst the coronavirus pandemic.
The Las Vegas Sands Corp. owned resort will continue to operate its casino floor with limited table games and most restaurants and bars will remain open, according to the Las Vegas Review-Journal.
The newspaper, which is owned by Las Vegas Sands Corp. CEO Sheldon Adelson, quotes a Venetian spokesperson that the changes are being made to “better reflect occupancy patterns.”
Since reopening in July, The Palazzo’s hotel tower had only been accepting reservations on weekends.
Las Vegas weekend hotel occupancy was 64% for October, while weekday occupancy was 39% according to the Las Vegas Convention and Visitors Authority (LVCVA).
The move to stop all hotel reservations at The Palazzo arrives weeks after reports that Adelson is considering a sale of his Las Vegas properties, including the Venetian, Palazzo and Sands Expo and Convention Center.
Las Vegas Sands Corp. relies heavily on the convention business, which is still almost non-existent nine months after the initial pandemic shutdowns began.
The LVCVA reported no convention attendance in October. Some small conventions occurred in November, but large attendance events likely won’t take place until vaccines are readily available for the general public.
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