The Oracle OpenWorld trade show is moving to Las Vegas.
An Oracle spokesperson confirmed Tuesday that the company will move its business and technology conference from San Francisco to Las Vegas next year.
“(Las Vegas) and its vast amenities are tailor-made for hosting large-scale events, and we look forward to bringing the industry’s most comprehensive technology and developer conference to America’s premier hospitality destination,” an Oracle spokesperson said in an email. The computer technology company also plans to move its Code One 2020 developer event to Las Vegas.
According to Oracle’s website, the trade show draws in about 60,000 people from 145 countries and had an estimated $120 million economic impact to the Bay Area. The 2019 trade show was held in mid-September.
The spokesperson would not comment on which convention facility it plans to use, or whether it had signed a long-term agreement. CNBC reported that the trade show is set to move to Caesars Forum, a $375 million convention facility set to open in March that can accommodate 10,000 people. Caesars spokesman Richard Broome declined to comment.
RCG Economics’ John Restrepo said San Francisco’s costs were likely a major factor in Oracle’s decision to move.
According to the Expedia Group-owned technology company Trivago, the average standard double room in Las Vegas cost $127 in November. In San Francisco, it was $196.
Meanwhile, Las Vegas has “more affordable hotel rooms and a great airport,” according to Restrepo.
He also pointed out that Las Vegas’ location keeps the trade show close to the West Coast, which holds the company’s Redwood Shores, California headquarters.
Restrepo said Las Vegas’ convention industry has been able to compete with other cities in recent years by continuing to expand and renovate its convention space. According to the Las Vegas Convention and Visitors Authority, the city added 254,500 square feet of convention space in 2019, and is expected to add another 2,192,300 square feet next year.