A 2018 survey by the Las Vegas Global Economic Alliance found 37% of survey respondents avoid parking at Las Vegas Strip Casinos with paid parking and 29% avoid using any services from the casinos that charge guests for parking.
On 4/29/19, Wynn Las Vegas and Encore Resort announced that their garages will offer free self-parking for all guests starting May 1st, but that doesn’t mean other resorts (MGM Resorts International and Caesars Entertainment Corporation) will follow in ending those fees.
The change takes place less than two years after Wynn Las Vegas implemented its paid parking program, which later allowed guests to offset parking fees by those who spent $50+ in the casino.
Michael Weaver (Wynn's spokesman), said the parking policy change was made to be in alignment with the company’s “position as a provider of luxury experiences for guests.”
Some of Wynn’s neighboring Las Vegas Resorts' parking policies may have also helped encourage the change, as Hooters, Tropicana, Venetian, Palazzo, Casino Royale, SLS Las Vegas, Circus Circus and Treasure Island offer free parking.
During MGM Resorts International’s first quarter earnings announcements, president and COO Bill Hornbuckle said Wynn’s “independent decision won’t change ours going forward.”, but MGM properties aren’t as surrounded by competitors offering free parking.
Wynn Las Vegas’s free self-parking is open to all guests and will not require validation; Valet parking will be free for overnight hotel guests (it is part of the resort fee) at both the Wynn Las Vegas and Encore Resort according to the Monday statement.
Showing posts with label Wynn Resorts. Show all posts
Showing posts with label Wynn Resorts. Show all posts
Monday, April 29, 2019
Sunday, July 1, 2018
Is the Las Vegas Strip Leaning Towards Free Parking Again?
Station Casinos began charging resort fees in 2004. In 2008, MGM Resorts began charging resort fees. In 2013, Caesars Entertainment followed. These fees started out small, but over time have risen along with room rates.
Then starting in 2016 many Strip casinos decided to charge for parking. Prices in Las Vegas, especially on the Strip, are higher than ever. Charging for parking on top of the resort fees and deteriorating game odds has resulted in angry customers.
According to MGM’s 2017 4th quarter report, both slot play and room occupancy fell slightly in 2017 This was the company’s first full year with pay to park. Revenues in some areas increased, but overall visitation to Las Vegas fell 1.6%. While many Resort and Casinos have reported increases in total income, it seems that paid parking is not inspiring people to visit Las Vegas.
In Downtown Las Vegas, just about everywhere you park can be free with validation. On the Strip, the common visitor is more likely to pay as you generally need casino elite player status to avoid parking charges.
Recently, two Las Vegas Strip Resort and Casinos are listening to their patrons. Wynn Resorts announced a change to their parking policy (for Wynn & Encore) effective July 1, 2018. They’ll be the first casinos on the Strip to allow guests to offset parking fees. Those who spend $50 in the casino will have their parking comped. Free parking has also been added to both casinos’ $39 resort fee, meaning that hotel guests will now be exempt from parking fees.
Wynn Resorts' change to parking policy is the first sign that the people are being heard. If validating parking has a positive impact on visitation and spending, MGM Resorts and Caesars Entertainment will likely consider following suit.
Allowing parking validation might make less money directly from parking, but if waiving a parking fee brings a customer in to spend more on a meal or gambling, it’s hard to see it not becoming the trend.
As of this writing, properties like Treasure Island, Venetian, Palazzo and even the Fashion Show Mall all have free parking.
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Then starting in 2016 many Strip casinos decided to charge for parking. Prices in Las Vegas, especially on the Strip, are higher than ever. Charging for parking on top of the resort fees and deteriorating game odds has resulted in angry customers.
According to MGM’s 2017 4th quarter report, both slot play and room occupancy fell slightly in 2017 This was the company’s first full year with pay to park. Revenues in some areas increased, but overall visitation to Las Vegas fell 1.6%. While many Resort and Casinos have reported increases in total income, it seems that paid parking is not inspiring people to visit Las Vegas.
In Downtown Las Vegas, just about everywhere you park can be free with validation. On the Strip, the common visitor is more likely to pay as you generally need casino elite player status to avoid parking charges.
Recently, two Las Vegas Strip Resort and Casinos are listening to their patrons. Wynn Resorts announced a change to their parking policy (for Wynn & Encore) effective July 1, 2018. They’ll be the first casinos on the Strip to allow guests to offset parking fees. Those who spend $50 in the casino will have their parking comped. Free parking has also been added to both casinos’ $39 resort fee, meaning that hotel guests will now be exempt from parking fees.
Wynn Resorts' change to parking policy is the first sign that the people are being heard. If validating parking has a positive impact on visitation and spending, MGM Resorts and Caesars Entertainment will likely consider following suit.
Allowing parking validation might make less money directly from parking, but if waiving a parking fee brings a customer in to spend more on a meal or gambling, it’s hard to see it not becoming the trend.
As of this writing, properties like Treasure Island, Venetian, Palazzo and even the Fashion Show Mall all have free parking.
Get Free Casino Comps
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