Las Vegas Strip Revenues Impacted by Bumped Up Resort and Parking Fees in 2018
Posted on: December 30, 2018, 06:00h.
Last updated on: December 15, 2018, 09:27h.
Las Vegas Strip revenues took a hit from casino resort and parking fees that kept on climbing in 2018. And at a time when gaming operators might have pushed a more welcoming structure on visitors — in the wake of the gruesome shooting late last year that left 58 dead — the big players instead decided to ramp up expenses for already wary guests.
Pay to Park
Las Vegas high rollers are all about the perks, but one comp that had been afforded to guests of all economic tiers for decades was free parking. MGM Resorts eliminated freebies in 2016, and Caesars soon followed.
As Las Vegas suits continued to seek ways to overcome the fallout from the Mandalay Bay mass killing of October 1, 2017, parent company MGM announced it was increasing its parking rates in January 2018. Self-parking at Aria and Bellagio went to $18 a day, while the cost jumped to $15 for 24 hours at resorts such as Mandalay Bay, MGM Grand, and New York-New York.
In December, The Cosmopolitan announced it would no longer charge separately for parking, but instead include the cost in its resort fee, which was increased to $39 per day.
Wynn Resorts — which had followed MGM and Caesars in eliminating free parking —?reversed its decision in June 2018 for guests who spent at least $50 in its Strip properties. The Venetian and Palazzo, Treasure Island, and SLS have continued to offered free parking, at least for now.
Hidden Fees Jack Up Rates
Along with higher parking costs, Las Vegas casinos jacked up their daily resort fees in 2018. The charges, which now are as high as $45 a day at Venetian and Palazzo, claim to cover the costs of amenities like in-room Wi-Fi, local calling, and boarding pass printing.
$30-$40 a day is what guests should now expect to see on their Strip casino resort bills when they leave. And these costs aren’t included in the online booking quote until checkout.
Increased resort fees can now more than double what a guest might think they’re going to pay for an overnight stay in Las Vegas.
No Comps a Turnoff
Las Vegas Advisor publisher Anthony Curtis said in May that the charges are turning off potential tourists.
Everyone hates resort fees, but the parking fee is even worse,” Curtis said. “Everyone wants some kind of comp. The most basic is free parking. The customers hate it. I really do think that these fees are starting to cause people to second-think a trip here.”
Visitor volume statistics from the LVCVA support Curtis’ thinking, although a substantial drop in convention attendance has been blamed as the key reason for the fallout.
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Las Vegas has reported a slight slip in revenue. Although, it was only a 2 to 4 % drop depending on brand, it shows the 'Boycotting" of LV that posters are speaking about is starting to work no matter how small. I was used to going twice a year every year, sometimes more. I have only gone twice in the past decade due to a number of changes that both myself, my social circle, and industry have decided make Las Vegas less desirable than other options. in life, like business we don't care what anyone calls their added costs, we are only concerned with Bottom line costs for the trip. I don't want to hear about a resort fee, city tax, parking fee, you arrived on a Saturday fee, or any other add-on. You better quote me ONE COMPREHENSIVE PRICE or you are out of consideration. Vegas was a business option in the past because it was budget friendly. Expense accounts are not open-ended for many industries. Californians used to be the bread and butter for Vegas, that customer is now looking at other options. Vegas had better start to work with the airlines to get a handle on things also. A room during the week should not be over $60 TOTALl at most properties. A buffet should not be over $15 for good, not gourmet food. Drinks at the bar $6. Most shows $50. We will never pay for parking! I realize that younger visitors are not gambling as much, but get the prices back in line for your core customers and most will risk $hundreds gambling in return for that OLD VEGAS VALUE.
From the UK and we went once a year for about 15 years, but a few years ago I decided to boycott the place once they got silly with their resort fees. I still find it hard to believe that people are still going with all the hidden extras, and really could not believe they added parking into the 'rip off' equation too. The share holders of all these big companies get it so wrong - they believe they have to increase profits year on year so they are always looking at ways of generating extra income, and they don't care how it impacts on visitor satisfaction. These big firms have to eventually be made to realise that a healthy large yearly profit is better than squeezing ever last cent out of visitors so that their profit rises by a few percent... It seems to me that if they can't announce a rise in profits every year then the share holders panic - hence resort fees, then parking, and now lots of people getting paid off too - buffet prices through the roof, fewer free drinks... It's just a long list of miscalculations from the people running these firms - all these companies could still be making a huge profit without stealing the smiles from our faces when we check out and get hit with the fees... It really is no way to treat guests and leaves a very sour taste - I personally have, when ever Las Vegas has been mentioned to me on my travels with work all over the UK, told everyone I have spoken to that they should not visit Las Vegas, and have given the reasons - the primary one was resort fees, but more recently parking has been added to my arsenal of weapons to stop people from visiting... I really do my most to stop people from visiting Las Vegas and I would hope many other people would do similar... I kind of know, it's a battle I can't win, and people will still visit, but it makes me feel good every time I manage to persuade a group of people not to go... I do miss visiting, and used to really love it, but once the likes of The Orleans (my favourite little place) started with resort fees like the big boys on the strip I decided that it was time to call time on Las Vegas... I would love it to go back to what it once was, but unless I find Marty Mcfly's Delorean, I think my decision to divorce myself from Las Vegas, rather than keep paying for an increasingly costly marriage was a very wise decision - I just wish more people would make a stand, and stop visiting, or if they do visit then at least boycott the worst hotel offenders on the strip... Someone at some point has to make these hotels realise that visitor satisfaction should be an integral part of running a hotel, and not the last thing on their mind.
We use to go Las Vegas 3-5 times a year. My wife and I enjoy gambling but we don’t like hidden fees. The Las Vegas strip has become excessive and greedy with fees and I wonder if it will back fire eventually.
Ten+ years of guy golfing trips has been fun. But the cost keeps going up. New last year was parking. Add the resort fees. I'm looking at $50 a person per day just for fees. Plus room. Plus tax. Even drinks and food are getting more expensive. We're were accustomed to $100 for a round of golf and more for gaming. But the resort fee and parking fee is a slap in the face. If we go again this year, we'll rent a few houses for a week and we'll save a lot of money. We did that two years ago due to overlapping with a big convention. It worked great. We may even use Walmart groceries to go as an option for some food. Vegas is losing it's spark for us.
Dear Vegas, I'm 42, from Seattle, has disposal income and used to travel to Vegas often for gaming, pools and dinning. I am trying to find a reason to go back other than the weather. I love going out but the ropes and attitudes chased me away from the club scene (I'd rather go to a lounge now). The resort fees are ridiculous! really, $40+ per night without anything to show for it; perhaps it should include buffet. In addition, I've been at the receiving end of terrible hotel and gaming attitudes from customer service reps. To be honest, people in my shoes don't see the value anymore especially with other options out there. I am now looking at places like Palm Springs, Vancouver or other destinations for trips with friends. Not sure how you can reel me or my circle back in...
I normally patronized Vegas at least four times a year. I live in Arizona and normally drive. However, only went to Vegas once last year, due to a wedding. Otherwise, I would not have gone once., due to all the fees and increases pricing in drinks, CNF fees, and surge price menus. $6.00 for a soda, MGM, you can have it.
Wanted to take my son to LV for the first time but the resort and parking fees were a turn off. We went to San Antonio and used the money we saved from those fees to vacation like kings!! (ate out every night, entertainment, souvenirs).
I can tell you as a local I no longer go to the strip because of parking fees. Stations casino comps aren’t great but free parking gets me there. I did start returning to the Wynn because of their reversal. Big casinos have gotten greedy and made us pay every step of the way. I will just choose carefully where I go take my gaming action.
Hidden fees, jacked up rates and shyster style operations has kept us from visiting. We used to go to the strip a few times a year. No more, tired of getting ripped,off at every turn. Downtown is so much better but all the vagrants make me feel unsafe. If we want to gamble now, we just go,to a local Indian casino where they don’t try and rip you off every which way they can.