Las Vegas is launching a new campaign to boost tourism, focusing on value and promotions to combat a 12% decline in visitation year over year. CEO Bill Hornbuckle emphasizes the importance of affordable deals and value creation, acknowledging the industry’s challenges and the impact of decreased Canadian visitation and visa price hikes.

MGM Resorts and Las Vegas have faced a slowdown after years of growth, with Hornbuckle warning that the Vegas slump could be a leading indicator for broader U.S. travel issues. He highlights the impact of Canadian visitation drop, visa price increases, and reduced government funding for travel promotion on the industry’s $50 billion deficit in international travel.

Marriott CEO Tony Capuano expresses concern about uncertainty affecting the travel sector, noting a slight uptick in post-Labor Day travel but restrained spending in budget travelers and small businesses. Wyndham Hotel and Resorts CEO Geoff Ballotti remains optimistic, citing robust demand for extended stay and a strong new construction pipeline domestically, driven by infrastructure projects.

Read more at CNBC: MGM Resorts CEO on Las Vegas slump and U.S. travel