It’s been a year of change in the Las Vegas hotel industry. Two hotels opened at the end of 2023, adding thousands of hotel rooms to the largest hospitality market in the country.

Recent developments on two sides of the Strip, however, will quickly take those gains away from the market’s total room inventory. The Tropicana, a Rat Pack-era property, closed on April 2. And just a few weeks ago, hotel operators revealed they will close The Mirage this summer for a three-year renovation that will culminate in a newly designed hotel.

Simple laws of supply and demand might make observers think that losing two resorts within three months would have a significant effect on the Strip market.

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