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Cosmopolitan hotel to drop parking fees

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01-03-2019 , 07:32 AM

#26

madlex

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Quote:

Originally Posted by Steve00007

The Strip has plenty of parking spots. I actually think it’s shocking anyone would say it’s obvious there aren’t enough spaces. Even when I was new to the Strip finding parking spaces was never an issue.

Which public parking spots do you use when you want to go to the Aria or Bellagio poker room? Honest question from someone who doesn’t drive in Vegas.

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01-03-2019 , 09:44 AM

#27

Me2theEV

adept

Join Date: Dec 2013 Posts: 848

Venetian probably.

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01-03-2019 , 11:12 AM

#28

madlex

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Originally Posted by Me2theEV

Venetian probably.

That’s a parking garage on private property. I was talking about parking on public grounds like city streets.

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01-03-2019 , 04:08 PM

#29

Koss

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Quote:

Originally Posted by Steve00007

But they’re just hotels, not casinos.

Do people still gamble as much as they used to? It seems, anecdotally at least, people are spending less of their trip budget on the floor. People are going to Vegas for pool parties, shows, nightclubs, conventions, concerts, etc. Resorts will have to make up the lost gaming revenue somehow. In comes resort fees, parking fees, and worse payouts.

Or maybe I am wrong and they are just bending us over because they can.

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01-03-2019 , 09:43 PM

#30

Steve00007

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Quote:

Originally Posted by madlex

Which public parking spots do you use when you want to go to the Aria or Bellagio poker room? Honest question from someone who doesn’t drive in Vegas.

If you didn’t mean garages then I misunderstood you. I park on the higher levels of the Aria and Bellagio parking garages and think they both have plenty of space.

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01-03-2019 , 09:49 PM

#31

Steve00007

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Originally Posted by Koss

Resorts have more ways to make money, and more ways to attract guests that will spend money. So I’m not sure I buy the “people are gambling less so we make less” argument they make. Vegas was doing really well when the parking fees started.

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01-03-2019 , 10:01 PM

#32

Nepeeme2008

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Join Date: Mar 2017 Posts: 2,940

I can't find the article anymore in the Las Vegas review journal but according to them, Casinos had very good profits in 2018.
In other words, they have no incentive to decrease or let alone eliminate fees.
The suckers just keep on going.
I'll probably be there sometime in the fall.

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01-04-2019 , 12:33 AM

#33

callipygian

slowrolled by tpiranha!

Join Date: Mar 2009 Posts: 19,880

Quote:

Originally Posted by Steve00007

I’m not sure I buy the “people are gambling less so we make less” argument they make.

https://gaming.unlv.edu/reports/NV_1984_present.pdf

Strip gaming revenues have dropped (inflation-unadjusted!) since 2013, slot revenues have climbed since 2009, but not back to 2007 levels. Adjust for inflation and basically you see why a public company would be pummeled if they only had gambling revenue.

Vegas (or the Strip, at least) has been doing well *because* they've pivoted away from gambling. Non-gambling revenues are up, even on an inflation-adjusted basis. Like it or not - and to be clear, I don't - there is very good reason for bean counter executives to be making their casino experiences about as fun as airline travel.

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01-04-2019 , 11:00 AM

#34

madlex

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Quote:

Originally Posted by Steve00007

If you didn’t mean garages then I misunderstood you.

Yes, I was specifically talking about parking in spots not owned by a business. Availability of those is the #1 factor for paid parking to work.

Prime example are some NFL stadiums where people pay $50 to park for a couple of hours in the middle of nowhere in an uncovered spot. The only reason why someone would ever pay for that is the lack of other options.

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