Reader Poll
Should MGM Mirage and other casino operators be increasing their room rates now?
Response | Votes | ||
---|---|---|---|
Sure. It's supply and demand -- room bookings increase, rates go up. | 14% | 107 | |
No. Higher rates will mean fewer visitors, further hurting the economy. | 85% | 614 | |
Total Votes | 721 |
Note: This is not a scientific poll. The results reflect only the opinions of those who chose to participate.
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If they can get it, more power to them. I imagine they'll just have to offer deals to keep people coming in. When I go to Las Vegas, I am very sensitive to rates. Uaually staying at Imperial Palace, Palace station, or even Jean if the rates on the strip are all high that week. If there are really good deals, we will stay at a higher end hotel, but I will never pay the 200 or more that they ususlly charge. Most I've ever paid is 125 a night, usually pay somewhere between 40 and 60.
Las Vegas has been built on subsiding some form of "value" or another.
At a time when "disposable cash" is all but non existent, i would think that a natural default position for any entertainment venue would be to do all that is possible to get any "disposable cash" into there collective system, by any means possible.
"I'm not going to give rooms away. That's a heads-in-beds philosophy," Ruffin said. "I don't want the $50 customer."
Oh, boy, I will make sure that comment goes viral around the internet. Remember this arrogant attitude the next time the LVCVA and the Strip properties try to lure locals with "staycations," as they did a few months back.
They tried to pitch it as locals' "civic duty" to help the casino industry through a rough patch. And now we see the duplicity, condescension and comtempt for the "$50 customer."
Good luck with that TI purchase, Ruffin. You're going to need it. See you in bankruptcy court, along with the rest of the Strip casino owners.
if casinos and hotels want to keep visitors from the uk then keep your prices at an acceptable level we are having a hard enough time with the rate of the pound against the dollar more and more people are wanting to visit you but people will only pay so much keep your prices down and we will keep coming
geoff uk
I'm a $50 customer! and because of that I can afford to come back for the 2nd time this year. So go ahead, raise you'e rate's Mr Ruffin, I'll find somewhere else to spend my hard earned $50.!!
I remember the last "depression" that hit Vegas hard back in 1981/82 (called the Reagan recession) and off-season, summertime room rates at the LV Hilton, then considered a top tier hotel (4-stars, etc.), started at $28 a night for a Friday night weekend arrival. Given inflation values that same room today should be near $65 - and it is for a mid-June weekday arrival. Now the LV Hilton weekend starts at $80 - a near 23% increase over the inflation rate.
After some research for a relative coming to visit in June it is $147 average per weekday night for a 'summertime' non-convention rate for a major strip resort. Weekend arrival rates average $212 per night, which is a 45% hike. This is just the room rate - a lot of these resorts are adding so-called "resort fee's" of $20 per night to use the pool and other recreational facilities. And, these are the rates available in advance. (Sometimes if the no-show factor is high the hotels will lower rates on a same day reservation arrival - but that's a real gamble to arrive in Vegas without a reservation.)
The resorts have priced themselves too high for the "average" tourist, hence the average tourist is seeking other venues or staying home. Hence, occupancy rates are lower and casino profits are down.
A peculiar psychology exists here: Yes, I will pay $199 a night for a weekend jaunt at the Venetian, but I'm only going to take $200 gambling cash and find a casino that still has 25-cent slot machines. If the Venetian was offering $69 room rates - now I'll have at least $400 casino cash and am more likely to wager at the Venetian dollar slots or maybe even their table games. If needed I might just make a trip or two to the nearest ATM for some more funds. Interesting how that works - but I've seen it a thousand times as a former LV hotel desk clerk and casino cage cashier. When room rates are running high - tourists are more careful with their gaming spending and stick to their budget. When they believe they're getting a "deal" on room and food pricing - they ease up and end up spending more money where it counts: on the casino floor.
Why these guy's don't get that is beyond me. Some new-fangled business model must exist.