Circa Las Vegas Rolling Out 35,000 Square Feet of Convention Space in September

Posted on: March 29, 2022, 08:30h. 

Last updated on: March 30, 2022, 11:35h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

Circa Las Vegas is throwing its hat in the convention and meeting business ring, announcing it will open 35,000 square feet of related space in September.

Circa
Circa Las Vegas owner Derek Stevens in front of the venue in October 2020. The operator unveiled plans for 35,000 square feet of convention space. (Image: Jeff Scheid/Nevada Independent)

The privately held casino operator made the announcement earlier today on its Twitter feed. Located in downtown Las Vegas, the 35-story Circa opened in 2020 and is home to 777 rooms. The venue is the first in 40 years to be built from the ground up in the area known as the Glitter Gulch.

Circa, which is owned by Derek Stevens, didn’t say how much the convention space project will cost. The company did say the area has to this point served as a sports-viewing zone for patrons.

The addition of meeting space puts Circa in competition with some venerable names on the Las Vegas Strip. Those venues have massive amounts of convention square footage that hasn’t earnestly been put to use because of the coronavirus crisis. For example, Caesars Entertainment and Wynn Resorts both have substantial convention space that has yet to be tapped, owing to the pandemic.

Could Be Good Timing for Circa

Consensus in the analyst community is that 2023 will mark a true rebound in Las Vegas’s meeting and convention business. The good news for Circa and rivals is data suggesting business travelers are eager to get back on the road.

The last two years of virtual work arrangements and travel restrictions have underscored the importance of travel and face-to-face meetings for businesses, employees and customers alike. These results are proof of that,” said American Hotel and Lodging Association (AHLA) president and CEO Chip Rogers. “Most Americans recognize the unmatched value business travel and face-to-face meetings provide. And after the last two years, the return of business travel is more important than ever.”

For all the Zoom calls American workers endured since COVID-19 became part of the everyday lexicon, the reality is many professionals still see value in live meetings.

“Eighty-six percent of employed Americans and 89 percent of business travelers say face-to-face interactions are important for establishing and maintaining relationships with coworkers,” notes the AHLA. “Eighty-five percent of employed Americans and 88 percent of business travelers say face-to-face interactions are important for establishing and maintaining relationships with clients.”

Encouraging Signs

Some Strip operators previously said their convention bookings for the second half of this year and into early 2023 are robust, confirming businesses and trade associations want to get back to conventions in the largest domestic casino hub.

In terms of luring new convention business, Circa has some points in its favor, including the prestigious AAA Four Diamond ranking, being home to the largest sportsbook in the US, and being an adults-only venue.

In addition to Circa, Stevens also controls D Las Vegas, Golden Gate Hotel & Casino, and Downtown Las Vegas Events Center.