While the SHRM Annual Conference just ended, the SHRM Housing Office gave attendees a sneak peek into the prices for the 2019 Conference being held in Las Vegas, June 23-26. You, too, can make your early reservation for next year's conference (only good until 6/22...otherwise you'll have to wait until November) by clicking here.
So, how expensive will hotels cost and how does it relate to previous years? To examine this question, I look at selected SHRM conference brochures (i.e., the ones that I still possessed) over the past 18 years to see what it would cost a person to book a single room on a per night average. Clearly, prices in 2001 will be different than in 2018, so I use an inflation calculator to adjust costs to today's dollars. I do not include taxes and fees (and Las Vegas hotels vary in their resort fees)
What do the results tell us?
Cost of an Average SHRM-Affiliated Hotel (per night: 6/23-6/26; 1 room, 2 persons)
San Francisco (2001): $282.47 (standard deviation of $62.35)
Chicago (2008): $281.43 (standard deviation of $32.40)
Washington DC (2016): $280.37 (sd of $32.49)
Chicago (2018): $272.47 (sd of $17.47)
San Diego (2010): $269.11 (sd of $46.32)
Chicago (2013): $265.88 (sd of $22.02)
Washington DC (2006): $254.64 (sd of $43.75)
Philadelphia (2002): $240.17 (sd of $64.21)
New Orleans (2017): $225.82 (sd of $36.27)
San Diego (2005): $226.01 (sd of $55.11)
Atlanta (2012): $216.21 (sd of $24.12)
Las Vegas (2007): $183.74 (sd of $35.41)
Orlando(2014): $171.79 (sd of $38.23)
Las Vegas (2019): $164.15 (sd of $37.93)
Las Vegas (2015): $149.93 (sd of $24.00)
Las Vegas (2011): $141.1 (sd of $19.62)
SHRM 2019 looks to one of the cheaper options compared to previous years. Rooms, on average, will cost approximately $108 (+ tax) LESS per night than this year's conference in Chicago. This will be the 3rd lowest average hotel cost in the last 18 years. Even with the resort fees, you're likely to be able to stay an extra night for the same price that you paid for 2018.
There is a bit more variation in hotel prices from the two previous years in Las Vegas. The five number summary also bears this out:
Maximum: $229 (plus tax)
3rd Quartile: $195
Median: $157
1st Quartile: $139
Minimum: $99
Fifty (50) percent of the options are less than $157 per night.
What does this mean? You'll be able to stay at 5-hotels at a lower rate than most of the options in Chicago this year. To me, the place to stay is the Vdara. $125 per night is a very good price for this 5-star hotel (even with the $32/night resort fee). It is in a very good location on the Las Vegas strip, and, for those who dislike casinos, it is casino-free. Even better, SHRM hotel costs in Las Vegas are usually competitive even against such sites as Hotwire and Priceline.
See you in June 2019.
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