| Description |
1 online resource : illustrations |
| Series |
SAGE business cases |
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SAGE business cases
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| Summary |
Over forty-two million tourists visited Las Vegas, Nevada, in 2018. The Strip, central to Las Vegas, is where the city's most iconic hotels and casinos, restaurants, and entertainment shows are located. This is listed as a top-rated attraction worldwide. The Strip is a stretch of South Las Vegas Boulevard, approximately 4.2 miles in length. Las Vegas gaming revenue accounted for 59% of the total revenue in 1984, but this dropped to 34% in 2018. The decreasing gaming revenue is attributed to regulations, the acceptance of gambling in the society, and economic recessions. In addition, visitors, especially the younger generation, are gambling less and spending less on casino floors. Even given the increasing number of first-time visitors who were younger on average, they are more likely to take part in non-gambling activities, such as shows, bars, pool parties, and nightclubs. Approximately 48% of visitors' primary reason for visiting Las Vegas was vacation or pleasure, and only 5% of visitors' primary purpose was to gamble. Las Vegas is famous for reinventing itself over time by being innovative, providing new products, and always being ahead of the customer.Transportation, an important factor in the destination mix, plays a crucial role in attracting tourists and promoting tourism. Automobiles are considered the most efficient transportation mode to bring visitors (including locals) in and out of the Las Vegas Strip. All the resorts on the Strip have parking garage buildings located next to the main property. Parking used to be complimentary for all guests until June 2016. The only time customers paid for parking was when they chose to use valet services. In June 2016, MGM Resorts International was the first major casino company to initiate a parking fee. At that time, residents (with valid local driver's license) were exempt. When justifying the reasons for implementing these new parking fees, the resorts claimed parking fees could bring in millions of dollars of revenue annually and change the landscape of the tourism hotspot that is increasingly catering to visitors who come for other pricey attractions besides gambling. This revenue used to be easily offset by other costs. Charging a parking fee is even more legitimate if 70% of revenue comes from outside the casino, including celebrity restaurants, high-end shops, shows, and nightclubs. Later, Caesars Entertainment was the second to charge a parking fee in December 2016, followed by the Cosmopolitan (May 2017) and Wynn Resorts (July 2017). Since then, paid parking has become the norm on the Strip, but it is not universal |
| Notes |
Originally Published InChen, C. C., & Schuckert, M. (2020). Parking Fees and Revenue Management: A case study of Las Vegas Strip resorts. Journal of Hospitality & Tourism Cases, 8(3), 56-63 |
| Bibliography |
Includes bibliographical references and index |
| Notes |
Description based on XML content |
| Subject |
Revenue management -- Case studies
|
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Hotel parking facilities -- Case studies
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Hotel parking facilities.
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Revenue management.
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| SUBJECT |
Strip (Las Vegas, Nev.) -- Case studies
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| Subject |
Nevada -- Las Vegas Strip.
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| Genre/Form |
Case studies.
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| Form |
Electronic book
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| Author |
Schuckert, Markus, author
|
| ISBN |
9781529798654 |
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1529798655 |
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