I know that positivity has been few and far between lately, but there is some hope.

The number of people out and about on The Strip has noticeably increased the last couple of days.

It seemed to begin picking up on Sunday afternoon, and has carried over into mid-week here on The Strip.

My guess is that the deeply discounted Sunday-Thursday room rates are just too attractive for even the most cash-strapped people to pass up. “Off-peak” discount rates seem to finally be succeeding in their objective.

It is still not nearly as crowded as last year, and the mood is still not quite as festive, but things seem to be picking up ever so slightly.

The observations haven’t been completely stellar. The gambling pits and slot machine banks are still somewhat lonesome. Not deserted by any means, but you certainly won’t have a problem finding a seat at the slots. Fewer gaming tables are open at any given time, but they are often crowded.

This is a bit of a psychological trick. The crowded tables result partially from a reduced supply of running tables overall which make the tables look packed to generate interest. It works, and even I go over to check out the action … but it is somewhat cosmetic.

If you put 10 dealers out instead of 20 dealers, the tables will still be packed even with a 30% reduction in players.

It is difficult to accurately quantify the gambling interest by simply eyeballing the situation, but it seems to have leveled off.

We are getting some people back, and that’s a good thing. Yes, they are paying less for rooms, yes they are gambling less, and yes the are spending less … but the fact that they are coming in what appears to be slightly greater numbers can only be seen as a positive sign.

Without demand, supply is useless. Until demand comes back up, room rates will stay low. Before the room rates go back up, demand will have to go back up.

Hopefully the corporations won’t jump the gun and start jacking mid-week rates just because the low rates are working.

What would my advice be?

Give back to the people that helped build the town. Let them have the deals for awhile. Resist the temptation to jack the rates at the first sign of a demand spike. Maybe lower rates a little more and get 95% occupancy going on, and let it stay that way for a good, long, while.

Will anyone listen to me?

No.

I’m almost certain that the town will jump the gun if we experience any kind of turnaround.

“Hey, bookings are up 5%, so now would be a good time to raise rates 20% “.

I am hoping that doesn’t happen, but it certainly wouldn’t surprise me.

This is not a fluff, pander piece in the slightest.

I think we desperately need more of a correction to move ahead long term.  Frankly, I think the town should get spanked, and spanked hard.  I don’t think it should be let off the hook too easily, and should be punished until 6:5 Blackjack is obliterated from the State of Nevada, and until the casinos stop hiring staff that the DMV rejected for having bad attitudes.

Tourists who are too easy to forgive, are not doing us any long-term favors, because the nimrods in charge will just do it again since “we survived the last recession”.  You don’t want to make survival a “given”, because that leads to complacency.   You guys out there in flyover country still need to put some fear into the hearts of these CEO’s that you will give us the middle finger for good if we screw you one time too many.  Don’t giggle and fawn over the town like a starstruck teenager.  Make the town work for your business.

Nevertheless, I have to call it like I see it, and it is just an honest observation. We are still off, and I have no idea if we will ever honestly make it back to the days when Vegas could take a shit and call it sunshine, but as a daily observer … I thought that it was only fair to make the observation that things seem to be picking up slightly.

Kudos to the casinos for doing whatever they are doing to get people here. Give credit where credit is due.

It’s not all doom and gloom, and people seem to be having fun.

There is craps table shouting, people frolicking in the pool, and the sounds of people gambling and having a good time.

Perhaps we reached the bottom, and it is all uphill from here.

Perhaps not.

Many it’s a false bottom and the calm before the storm.

I simply don’t know.

But I have been impressed with what I have seen this week.

Take it for what it’s worth.