There were some substantial closures in Las Vegas last year, and this included the Mirage and the Tropicana. The Mirage had over 3K hotel rooms, while the Tropicana had over 1,500. Despite some hotel openings in Vegas, the guest room losses remained significant. The Mirage will be revamped into a Hard Rock Resort, while the Tropicana will be made into the Major League Baseball stadium and home of the Athletics (formerly the Oakland Athletics).

In a significant shake-up for the Las Vegas Strip, the closures of two iconic resorts, the Mirage and Tropicana, in 2024 resulted in a net loss of over 4,500 guest rooms. The loss marks a crucial moment in the region's hospitality landscape, with efforts underway to mitigate the impact through new construction and redevelopment projects.

The majority of the room losses came from the Mirage, which contributed over 3,000 of the total guest room losses. The Tropicana, a beloved staple of the Strip since its opening in 1957, added to the deficit with its closure and subsequent demolition in October of 2024. This site is set to transform into a Major League Baseball stadium.

Efforts to offset room losses

While the closures caused a sharp drop in available rooms, incremental additions throughout the year have partially offset the impact. For instance, Circa Resort and Casino in the downtown area of Las Vegas expanded its capacity with 106 remodeled rooms. Additionally, two standard, non-gaming hotels - one in North Las Vegas and another in Henderson - contributed a combined 213 hotel rooms.

Despite these developments, the region recorded a total net loss of 4,195 hotel rooms in 2024, according to the Las Vegas Review-Journal. Local officials anticipate further recovery in 2025 and beyond, driven by new construction projects, including a 384-room expansion at M Resort in Henderson, slated for completion in the summer of 2025.

Major League stadium and ballpark to replace the Tropicana

The Tropicana site is set to host a state-of-the-art MLB stadium, which will become the new home of the Athletics by 2028. The team, formerly known as the Oakland Athletics, will temporarily play at a minor league ballpark located in Sacramento until the Las Vegas stadium is ready. During this transitional period, the team will be referred to simply as "the Athletics," without a city designation. The arrival of MLB will complement Las Vegas' transformation into a premier sports destination, joining other major teams like the Raiders of the NFL, the Golden Knights of the NHL, and the Aces of the WNBA.

The Tropicana's history as 'The Tiffany of the Strip' demonstrates the site's importance to Southern Nevada's cultural and architectural evolution. Its closure marks the end of one of the last remaining resorts with Mob-era connections and original construction.

The Mirage: a catalyst for the Strip's megaresort era

The Mirage, which ceased operations in the summer of 2024, leaves behind a legacy as a trailblazer in modern Las Vegas hospitality. When Steve Wynn opened the property in 1989, it was the first new hotel and casino on the Strip in over 15 years, sparking a boom in megaresort construction.

The site is now set for a dramatic transformation as the Seminole Tribe of Florida develops a Hard Rock hotel-casino featuring a guitar-shaped tower. This striking design will replace the Mirage's iconic volcano, which once entertained guests with its flame-spewing eruptions which smelled like pina colada.The Hard Rock is expected to open in 2027, offering 3,640 guest rooms and further bolstering Las Vegas' reputation for cutting-edge resort innovation.

What's ahead for Las Vegas?

In addition to the Hard Rock development, several projects scheduled for completion in 2025 will help address the region's room shortages. The expansion of the M Resort and other smaller developments are expected to significantly contribute to the recovery of lost capacity.

According to the Las Vegas Convention and Visitors Authority, the region boasted 154,662 hotel rooms in 2023, with an average daily rate of $191.29 and an occupancy rate of 83.4%. Visitor volume reached an impressive 40.8 million, showcasing the city's enduring appeal as a global entertainment hub.