LAS VEGAS-A high employment rate and the slump of the construction industry have prevented people from vacationing in Las Vegas and thereby negatively affecting the extended-stay motel business.
The recession has caused occupancy rates to plummet and room rates to fall. The average room rate at Emerald Suites has fallen from $65 to $45 per day. However, according to industry experts, interest in investing in the Las Vegas extended-stay industry is picking up despite disappointing occupancy rates. For the full story, go to Las Vegas Sun.
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