MGM Resorts International (NYSE:MGM)<\/a> is another potential beneficiary of elevated consumer services spending. The research firm has five-star and four-star ratings on Caesars and MGM.<\/p>\nHotel Rebound Could Lift Caesars<\/h2>\n
Obviously, getting guests to the tables and slot machines is a vital part of the casino business model. But for integrated resort operators like Caesars, filling hotel rooms is nearly as important.<\/p>\n
On that front, there\u2019s evidence of a potential rebound materializing, which could gather more momentum in 2023, assuming conventions return to Las Vegas.<\/strong><\/p>\n\u201cAs vacations were postponed and business trips canceled in 2020, on average, the amount of revenue per available room dropped more than 60% across the hotel industry,\u201d concludes Sekera. \u201cRevenue and occupancy levels began to rebound in 2021, and in 2022, we expect that many hotels will return to 90% of their pre-pandemic levels. Generally, we expect the hotels under our coverage to return to pre-pandemic levels in 2023.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Caesars Entertainment (NASDAQ:CZR) is among the casino operators that could benefit as consumers direct more discretionary spending toward services away from goods, according to a research firm. During the initial days of the coronavirus pandemic, consumer spending largely focused on goods. Conversely, services, such as nearly anything related to travel, languished due to pandemic-related restrictions, […]<\/p>\n","protected":false},"author":46,"featured_media":221822,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Caesars Primed For Consumer Spending Lift, Says Analyst<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n