Vegas, NV — (Marketwired – Jan. 23, 2020) – The Vegas Strip may be the most expensive city in the United States, but it’s not the only one with its fair share of cheap accommodation.
A new study finds the most affordable hotels in the U.S. are the ones that are owned and operated by families or individuals.
And that means you’re paying a lot more for a room at one of the best hotels in town than you might have at your home.
According to the report from Real Estate Week, the most inexpensive hotels in Las Vegas are owned by families and individuals.
In other words, they pay significantly less than their full-time counterparts.
The study also found that the average room rate in Las Vistas is $8,300 per night.
The average room in the city’s other most popular hotels is $15,600 per night, or $26,000 per year.
The lowest average room rates are found in San Jose, CA at $2,600, and San Francisco, CA where the average is $5,300.
However, there are many more affordable options to choose from at some of the most popular resorts in the state, including Lake Tahoe, The Mirage, and The Grand Canyon.
While the average price per night in the most-expensive resorts is significantly lower than the average for the rest of the state at $8:30 per night per room, the average rate of return on investment is much higher, with the average return of a room in The Mirage rising by nearly 50% in the last three years.
The report notes that there are a number of factors that contribute to the increased rate of occupancy in these resorts.
For one, the resort is located in an area with fewer hotels, making it more expensive to rent rooms in the region.
Also, there’s a strong incentive for those with children to stay at a hotel that’s owned and run by a family, as they get to enjoy the amenities of a private, exclusive hotel, including a spa, private dining area, and indoor and outdoor pools.
The real estate industry is starting to see the benefits of being able to stay in a hotel where you have more control over how you spend your money.
While the average cost of a hotel room is still significantly lower in Vegas, the real estate sector is beginning to see a decline in the number of vacation rentals.
This trend could continue for years to come, as the demand for hotel rooms is expected to remain high and the number stays in hotels will remain relatively high.
If you’re looking for a budget hotel in Vegas and you’re not ready to spend the money, the next best option is the Silver Lake, a resort in the Silver State that has the lowest room rates in the country at $6,000.
The most affordable options are the Holiday Inn and Hyatt Regency Las Vegas, both of which offer rooms for just $6 per night each.