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Occupancy, Rates Fall at Wynn LV

LAS VEGAS-As part of preliminary performance estimate the company says its third quarter occupancy fell 50 basis points and its average daily room rate fell 3.5%.

By Brian K. Miller | Updated on October 14, 2008

LAS VEGAS-Wynn Resorts’ occupancy, average daily rate and revPAR all fell at its Las Vegas property in the third quarter. The results were included in the company’s preliminary third quarter performance data, which it released late Monday.

Wynn Las Vegas achieved an average daily rate of $272 for the quarter, compared to $282 in the third quarter of 2007. The property’s occupancy was 96.1%, compared to 96.6% during the prior year period. As a result, revenue per available room (RevPAR) was $261, 4% below the third quarter of 2007.

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