Both year-end totals set new records. Moreover, the records areexpected to be eclipsed again this year given that 9,000 new hotelrooms and multiple new casinos are slated to be added to the localinventory this year, most of them on the Strip.

The LVCVA's executive summary also shows that average hoteloccupancy ended the year at 90.4%, a 0.7% increase from 89.7% in2006, matching its all-time high set in 1996, according to theLVCVA. Room rates rose 10.3% to $132.09 in 2007 from $119.73 in2006. Given the glut of new hotel rooms expected, record occupancyis not expected for 2008.

The LVCVA's executive summary also shows that conventionattendance in 2007 fell 1.6% to 6.2 million from 6.3 million in2006, while the number of conventions grew by 0.1% to 23,847 from23,825 in 2006. Despite the drop in attendance, the LVCVA estimatesthe total economic impact of the conventions grew 3.3% to $8.45billion from $8.18 billion in 2006.