New Year's Eve is, without doubt, the craziest night of the year in this city's that's always at least slightly insane, and with an average of something like 300,000 people jamming into and on the Strip that night, it's understandable that the powers that be take some precautionary measures.
The hotel-access issue you're referring to applies only to a few hours on December 31, usually from around 10 p.m., when the casinos lock their doors and you have to show a hotel key -- or in some cases, a players club card -- to door-manning security guards to get into a joint. That lasts until the wee hours when enough people have left through the back doors for the casinos to start allowing people in the front again. And here's a tip: If you're staying at a Strip hotel, make sure everyone in your party has a key and get them early, because the lines at front desks for keys get ferocious after dark).
The Strip is closed to traffic from 5 p.m. till the small hours, too, so factor that in if you need to drive to where you're staying/partying. I-15 on and off ramps eastbound and westbound are also closed at Tropicana, Spring Mountain, Flamingo, and Sahara.
While the Strip hosts "America's Party" -- a choreographed fireworks spectacular launched from a number of hotel roofs up and down the Strip, downtown holds its own party, where restrictions also apply. Some 10,000-or-so revelers cram a five-block stretch of Glitter Gulch and you need to have a wristband to access the party itself, but it's somewhat easier to come and go from the casinos than it is on the Strip.
Look out for our annual listing of additional New Year's Eve happenings and tips in our annual "Special Events" guide, coming soon.
Click this link for Las Vegas hotel deals for New Year's Eve, including great offers at Terrible's and the Tropicana.