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VTP #10: High Vegas Hotel Demand Hikes Rates

Last week’s SEMA convention filled Vegas’ 150,000 hotel rooms and rates continue to increase because of high demand, despite 3rd quarter losses reported by Caesar’s Entertainment and MGM Resorts.

Both companies reported revenue continued to grow so it means they’re spending too much. MGM Resorts anticipated that earlier this year by cutting 500 jobs, mainly by not filling jobs when someone vacated a position. One expense that did go up for casinos was pay to food and bar workers. Their union hammered out new agreements a while back with decent hikes for their members.

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Scott Simon

Scott Simon is the host of Vegas Travel Podcasts