Well, I don't know about "rock bottom" but they have gotten pretty low.
Regular readers of this column will know that I've been tracking New Year’s Eve prices for hotel rooms in Las Vegas since the summer, and to say they have plummeted is probably an understatement.
Back in July, the citywide average at major hotels was $818 per night with a four-night minimum. That included the high-end places like Bellagio where they were asking $2000 per night with a four-night minimum, all the way down to places like the Motel 6.
Over the past few months, prices have been dropping at an unbelievable rate. Although every hotel is still charging more than normal, you can get a room at major hotels for about the same as what you'd pay for a holiday weekend or a busy convention period.
Here are some samples:
Arizona Charlie's
This small hotel just northwest of The Strip was asking $350 per night with a three-night minimum back in September. Now you can get a room for $89 per night with a two-night minimum.
Bally's
When I first started checking, Bally's was sold-out but by November they had obviously gotten some cancellations, offering rooms for $438 per night with a three-night minimum. Now there is no minimum and you can get a room on New Year's Eve for $259.
Bellagio
Bellagio is still asking an unbelievable $2000 per night but the four-night minimum has been dropped to a two-night minimum
Caesars Palace
In September, Caesars wanted $2,000 per night with a three-night minimum. Now they have dropped the minimum and you can check in on any night for $149 on the 29th, $450 on the 30th, and $500 on the 31st.
Desert Inn
This posh resort has dropped from $1,000 per night with a four-night minimum back in September all the way down to $399 per night with a two-night minimum.
Four Seasons
The only five-diamond hotel in Las Vegas was asking $1,400 per night with a four-night minimum back in September. Now you can get a room for $525 per night with a three-night minimum and it includes all sorts of goodies like champagne and gifts.
Golden Nugget
The premiere Downtown resort has dropped from $595 per night with a three-night minimum down to $289 per night with the same three-night minimum.
Imperial Palace
Located in the heart of The Strip, rooms at the Imperial Palace have dropped from $399 per night with a three-night minimum down to $125 per night with the same three-night minimum.
Luxor
The big black pyramid has gone from $799 per night with a three-night minimum all the way down to $269 per night with NO minimum.
Mandalay Bay
In September, Mandalay Bay was offering a package for three nights including tax for $3,597. Now you can get a room for $349 per night with NO minimum.
Mirage
My pick for best hotel in Las Vegas has dropped from $2,613.82 (including a room for two nights, tax, and champagne) to $399 for New Year's Eve only. You can add the 30th for $199.
Paris Las Vegas
Paris was sold out when I first started checking things but now they have rooms available for only $309 on the 31st and $129 on the 30th. No minimum is required.
Sahara
This north Strip resort has gone from $885 total for three nights down to $199 per night with a two-night minimum.
Treasure Island
The pirate themed resort has dropped from $599 per night with a three-night minimum to $399 for New Year's and $140 for the 30th with no minimum.
So the big question now is, should you hold off another week and see if prices come down even more? I wish I had a good answer for you. I have a sneaking suspicion that prices probably aren't going to come down much lower than this and may even start inching back up if enough people jump on these more reasonable rates.
There have already been some hotels that have sold out. Two weeks ago, New York-New York had rooms but now they don't, which strikes me as being a bit ominous.
Keep in mind, if you decide to get your room now, you will be charged the full amount upon booking and there are no cancellations or refunds.
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