Some room rates for Mayweather-Pacquiao megafight pack four-figure punch

When it comes to hotel room rates in Las Vegas for the fight of the century on May 2, it’s the Wild, Wild West out there.

Some rates for a single night cost as much as your monthly mortgage payment.

“It’s kind of a free-for-all,” said Vanessa Doleshal, Vegas.com business development manager. “There’s nothing holding these hotels back.”

The Floyd Mayweather, Jr.-Manny Pacquiao megaboxing showdown at the MGM Grand Garden 12 days away has created a volatile room rate market for May 1 and 2 because it’s unlike most big events such as the National Finals Rodeo or the Consumer Electronics Show in which blocks of rooms are booked years ahead at a fixed rate.

It’s unbridled supply-and-demand capitalism in its purest form, as a room in Whiskey Pete’s in Primm some 40 miles from the Strip costs $180 per night on May 1 and 2 when it would typically cost $59 a night for the same Saturday night, Doleshal said.

“That weekend is such an anomaly,” Doleshal said. “Surprisingly, people are actually paying those rates and the hotels are selling out.”

She noted a $250-per-night room at Wynn Las Vegas is getting a $700 increase to $950 for May 2, while even modest Circus Circus is charging $284 a night on fight weekend when a room would typically go for $59 a night.

The most expensive hotel room is at MGM Grand for $1,684 a night, with Nobu Hotel Caesars Palace at $1,249 and The Cromwell at $1,052 a night. Aria and Bellagio are $1,049 a night on May 1 and 2.

Most hotels require two-day, Friday-and-Saturday bookings for the weekend, Doleshal said. She added only 19 Las Vegas area hotels of the 113 served by Vegas.com will sell a room for only Saturday.

Vegas.com, which became the booking engine for the Las Vegas Convention and Visitors Authority in November 2012, reported other interesting facts:

■ The fight announcement prompted a 660 percent increase in searches from Feb. 19 to Feb. 20, when the boxing match was announced.

■ The number of rooms booked for May 1 or May 2 on Vegas.com increased 954 percent from Feb. 19 to Feb. 20.

■ Even two-star hotels such as El Cortez and Golden Gate pumped up room rates by $200 for the May 1-2 weekend, when the room rates normally start at $59-$89.

The occupancy rate on fight weekend is expected to be 90 percent to 95 percent, Doleshal said. She said it’s typically around 85 percent in the first weekend in May.

Room rates might actually drop right before the fight if hotels are looking to unload rooms.

“If people wait to the last minute, they might get lucky,” Doleshal said.

MGM Grand Garden will have about 16,800 seats for the megafight, with ticket resellers selling tickets for $4,800 to $37,000 a piece.

Non-MGM Resorts International hotels in Clark County will not be allowed to show the TV broadcast of the big fight. MGM Resorts will be showing the fight at its properties on the Strip, and specific spots in the hotels and the price are being finalized.

But bars and businesses that are not in hotels will be able to buy the pay-per-view broadcast.

“The fight will be seen on closed circuit only at all MGM Resorts International properties along the Strip,” MGM Resorts spokesman Scott Ghertner said.

“The exclusivity applies to hotel/casinos in Clark County. I don’t have the price for this yet as it is in the process of being finalized as we speak.”

Contact reporter Alan Snel at asnel@reviewjournal.com or 702-387-5273. Find him on Twitter: @BicycleManSnel