It's starting to look like attendance at the upcoming International Consumer Electronics Show will be considerably affected by the financial crisis that has gripped many of the companies the show serves.
In typical years, Las Vegas hotel reservations for the first week of January have to be made months in advance and hotels charge high rates, assured that the number of rooms available in the city is less than overall demand. But for CES 2009 demand appears to be below room supply and hotels are cutting rates.
In late November, a number of Las Vegas properties cut their rates in the hope of filling empty rooms and in the last few days additional hotels have started offering cheaper rates and some hotels have made further reductions.
The Monte Carlo was originally charging US$275 per night on Jan. 8 and 9, the first two days of the event, but previously cut that to $240. Now it's been reduced again to $220. Days either side of these two are at $190 and all other dates are between $59 and $89 -- a cut from $90 to $130.
At the Trump International Hotel and Tower a studio suite now costs $240, down from the previous price of $365, and all other nights are $150. And the Alexis Park has just cut its peak rate again to $129. It was originally $169.
The good news for attendees is that the room rate cuts are retroactive so anyone with a prior booking at a higher rate should be charged the cheaper price. However, the CEA advises attendees to call hotels in advance an ensure this is the case.