In the wake of declining tourism numbers, Las Vegas is shelling out $458,000 to have a presence on the show floor at World Travel Market (WTM) London, IBTM World Barcelona, and International Luxury Travel Market (ILTM) Cannes, major tradeshows promoting tourism destinations around the world.
The Las Vegas Convention and Visitors Authority (LVCVA) approved an agreement with Reed Exhibitions to buy floor space at the European shows and for design and construction of the tourism agency’s exhibition booth at ILTM Cannes.
Presenting the request to the board at its July 14 regular meeting, Fletch Brunelle, vice president of marketing at LVCVA, emphasized the importance of attending these tradeshows, as well as cost sharing by Las Vegas business partners including MGM Grand, Caesars, Resorts World, Venetian, and Maverick Helicopters.
The shows provide Las Vegas a platform to develop new business through lead generation and sales, networking with meeting and event planners, and gathering intelligence on industry trends and buyer needs, Brunelle explained.
LVCVA continues to work with Conex Exhibition Services of Florida, which has been paid close to $2 million to build sustainable exhibit booths for past shows including World Routes, IMEX America, WTM London, and IPW Los Angeles, Brunelle affirmed after the meeting.
Reed Exhibitions is responsible for selling floor space in London, Barcelona, and Cannes, the marketing executive adds. The firm also specializes in the design, management, and production of exhibition and temporary pop-up retail stands.
WTM London is the world’s leading global travel and tourism tradeshow, bringing together some 40,000 travel professionals and 4,000 exhibitors from 180 countries. It’s a premier event to showcase Las Vegas on an international level, Brunelle noted.
IBTM World Barcelona is geared toward the meetings, incentives, conferences, and events (MICE) industry, attended by thousands of event planners and buyers from 100 countries. ILTM Cannes is the flagship show for luxury travel, enabling Las Vegas to position itself as a premier luxury destination and drive international visitation.
Tourism declineLest there be any misconceptions, regardless of continual rhetoric about diversifying the local economy, Las Vegas is deeply dependent on tourism and hospitality like no other city of its size in the nation, says Jeremy Aguero, principal of Applied Analysis, in his annual presentation on the economic impact of tourism. No action was required.
Visitor volume dropped 7.5 percent to 38.5 million in 2025, and visitor spending fell to $50.8 billion, compared with $55 billion the previous year, numbers that were anticipated after political fallout with Canada and other countries, and social media rants about overpriced Vegas.
On the positive side, the convention and meeting segments of the economy held steady, directly creating 53,020 jobs, $3.2 billion in wages, and $10.7 billion in total economic output, according to Applied Analysis. Factoring the indirect impact of the convention industry, those numbers are calculated at 80,800 jobs, $4.7 billion in wages, and $17.1 billion total output.
Convention attendees spend about $1,700 while in Las Vegas, $400 more than leisure travelers, Aguero noted. They gamble less but spend more on everything else, he said.
Grand Prix sponsorship
The LVCVA board unanimously approved a 10-year, $100 million sponsorship agreement with the Formula One Las Vegas Grand Prix that takes place in November.
Steve Hill, president and chief executive officer of LVCVA, recounted that sponsorship for the inaugural race in 2023 was $6.5 million, and adding VIP ticket packages for convention center customers took the cost to about $9 million.
The last two races generated about $900 million in economic impact, making it the most significant event of the year, he points out. “It’s an enormous event,” Hill says. The 10-year sponsorship allows for long-term investment in infrastructure development and for improvement in fan experience, he adds.
Pay raises
The 2½-hour LVCVA meeting concluded with a report from the compensation committee, chaired by Michelle Romero, unanimously recommending a 6 percent salary increase for CEO Hill, taking him to $566,755 a year, plus a 45 percent salary bonus.
Using standard methodology from a Korn Ferry report on executive compensation, the Las Vegas CEO falls in about the middle of the pack at $546,000 base salary, between Denver at $567,000 and New Orleans at $409,000. California Travel and Tourism Commission paid the highest CEO at $2 million.
Executive officers who report to the board or CEO were given a 3 percent increase. General counsel received a 5 percent increase.
World Gymnaestrada
The board granted $1 million to host the World Gymnaestrada July 7-13, 2031, at Las Vegas Convention Center, MGM Grand Garden, T-Mobile Arena, and other venues. The event is held every four years, and this marks the first time outside Europe. It’s expected to draw 17,500 athletes and generate 70,000 room nights.
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