With 130,000 hotel rooms available (148,978 rooms in Nye and Laughlin counties), you might think there would be a “bargain” to find. You are probably wrong. It is increasingly difficult to find an agreement in a city whose properties of large tourist complexes almost work. Why? The main properties of the resort are controlled by a small group of companies that are not recommended to make discounts.
Vegas supply and demand law
Consider for a moment the simple “supply and demand” law. When supply is high and demand falls, prices fall. Vegas is a booming city, demand is strong and supply is low. How could this be with 130,000 rooms? The answer is simple: 30 million visitors a year and growing! In fact, the growth rate is so phenomenal that Mega Resorts like Mandalay Bay (43 floors of 375 million dollars with 1,120 suites completed in December 2004), The Venetian (currently expanding) and Wynn Las Vegas (opened in April 2005 ), recently completed, add thousands of rooms to the “Heart of the Strip”. The growth is so phenomenal that even state financiers like Donald Trump take action. The demand for rooms exceeds supply, so prices rise!
According to an interview on USA Today, on July 30, 2004, Trump plans to build a 64-story condominium in part of the Frontier Hotel, opposite the Wynn Las Vegas Resort and the Fashion Show Mall.
The construction, scheduled for 2005, will cost $ 300 million and will include 1,000 hotel rooms and 50 luxury residential units inspired by the Trump International Hotel and Tower in New York. There will be no casino on the property.
Only 10% of hotels in Las Vegas are booked online
In several articles published this year in several professional magazines and hotel industry analysts, the current hotel reservation rate for online services for its visitors is approximately 10% across the country. I think this is also an accurate representation of Las Vegas. (Our company operates several websites that offer hotel reservations and these figures correspond to ours).
Additional proof: “Only about 10% of our rooms are reserved on Hyatt.com,” said Gary Gotling, Director of Sales and Marketing at Hyatt Regency Tampa.
This means that 90% of you use the Internet to collect information, but do not make your reservation online! Traditional travel agencies and phone calls remain the preferred method of booking. Internet is used as a source of information gathering and a little more. Great players know it and use it to their advantage. Again, there is no incentive to offer lower rates if your customers do not benefit. I will briefly address the issue of taxing the room by saying that most local governments hate the Internet, because rooms booked online for out-of-state interests reduce their available tax group. Expect local government officials to act on this issue as soon as possible.
So where does your money go when you book online?
If you are looking for Vegas.com, you will find that they belong to Greenspun Media Group (Henderson, NV), which publishes the daily newspaper Las Vegas Sun and owns Vegas Magazine, Showbiz Weekly, In Business, Vegas Las Vegas Weekly, VegasGolfer, Las Vegas . Ralston’s life and relationship. Greenspun Media is part of Greenspun Corporation, which also owns the local UPN channel. Greenspun is a partner of Las Vegas ONE, a cable channel dedicated to the news. American Nevada, the real estate division of The Greenspun Corporation, is one of the most recognized commercial and residential developers in the Las Vegas Valley. Your annual advertising budget exceeds 7 figures! Someone has to pay the price of all this advertising.
You can try the popular LasVegas.com website that has an interesting and rich history. The site domain was licensed in 2002 by Stephens Media Group of Littlerock Arkansas (Las Vegas Review Journal, Hawaii.com) to the Mandalay Resort Group and Parkplace Entertainment. In 2004, Park Place became Caesars Entertainment, which was purchased by Harrah’s Entertainment. This transaction occurs only one month after MGM / Mirage agreed to buy the Mandalay Resort Group. Do you need a room on the main avenue? Hmmm – I think the prices will be quite consistent! And to say that he could have owned LasVegas.com in 1997!