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MGM Resorts dumping parking fees

MGM Resorts dumping parking fees

Old May 18, 20, 6:46 pm
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MGM Resorts dumping parking fees

MGM Resorts dumping parking fees

MGM gets first moving advantage... let's hope "resort" fees are next.
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Old May 18, 20, 8:44 pm
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I'd bet they reappear before the Raider's stadium is up and running (with fans actually in it - not just games). There is no way they are going to let people park for free so close. For anyone not familiar with the geography of the strip, most of MGM properties are at the south end and much closer than Cesar properties. I seem to remember reading the stadium was among the reasons they started charging for parking in the first place. Not a bad PR move comping parking given the current climate.
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Old May 19, 20, 1:41 am
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Originally Posted by mtofell View Post
I'd bet they reappear before the Raider's stadium is up and running (with fans actually in it - not just games). There is no way they are going to let people park for free so close. For anyone not familiar with the geography of the strip, most of MGM properties are at the south end and much closer than Cesar properties. I seem to remember reading the stadium was among the reasons they started charging for parking in the first place. Not a bad PR move comping parking given the current climate.
I agree that there's no way they will allow free parking during Raiders games or even just VGK games / events at T-Mobile Arena, but the infrastructure is now in place so that they can charge for parking whenever they want and leave it free the rest of the time.

Also, note that MGM Resorts started charging for parking way back in June 2016, long before the Raiders move was finalized or the stadium location was known. It's more likely that the paid parking scheme was introduced due to the new T-Mobile Arena and The Park complex.
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Old May 19, 20, 11:35 am
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The Venetian/Palazzo remained with free parking throughout the era.
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Old May 19, 20, 4:12 pm
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Cosmopolitan to waive parking fee upon reopening
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Old May 20, 20, 1:32 am
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Can't be too long before Caesars follows suit?
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Old May 21, 20, 10:34 am
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Originally Posted by Dr_wanderlust View Post
Not surprising given their position has always been that they only instituted parking charges because Bellagio / other nearby casinos did and everyone was just parking at Cosmo and walking instead.

If Bellagio etc. don't go back to charging for parking 24/7, it'll be interesting to see how Cosmo handles it.
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Old Jul 6, 20, 6:59 am
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Originally Posted by Dr_wanderlust View Post
MGM Resorts dumping parking fees

MGM gets first moving advantage... let's hope "resort" fees are next.
Parking fees scare away people, especially locals. When in reality, when you get more people in your casino, it is far more lucrative than the parking fees.

Resort fees will never go away. Maybe one day as an individual line item, it will go away as a mandate or industry move. At best, they will roll that cost up in the price.
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Old Jul 7, 20, 10:36 am
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Originally Posted by Super Mario View Post
Parking fees scare away people, especially locals. When in reality, when you get more people in your casino, it is far more lucrative than the parking fees.
I'm guessing the above isn't true but not sure if parking is a line item on the 10K or not to verify.

I think they'll be back as soon as the covid stuff is past us and valet is back.
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Old Jul 7, 20, 12:28 pm
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Originally Posted by annerj View Post
I'm guessing the above isn't true but not sure if parking is a line item on the 10K or not to verify.

I think they'll be back as soon as the covid stuff is past us and valet is back.
I always thought that they shot themselves in the foot with parking fees (and they are high). It discourages locals for sure. I don't drive to Vegas but if I had to pay parking plus resort fees on top of the hotel bill, I would not be happy.
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Old Jul 8, 20, 1:42 am
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Originally Posted by Super Mario View Post
Parking fees scare away people, especially locals. When in reality, when you get more people in your casino, it is far more lucrative than the parking fees.
That was the old-school Vegas model but it's simply not the case anymore. This isn't the 80s when Vegas needed loss leader buffets, steak dinners, and even hotel rooms just to fill seats at the slot machines and blackjack tables. It's not about the gambling anymore, and Vegas has gotten progressively more upscale the more it's moved away from gambling.

The reality is that $1000 spend a year (Mlife properties) or even just $800 (Cosmo) earned enough status to get free parking pre-pandemic - without so much as a cent spent gambling. So it's these casinos saying they don't want locals who don't even spend that much a year taking up parking spaces.
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Old Jul 8, 20, 6:20 pm
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The reality is that casinos are profitable operations, like any other business. When their very sophisticated forecasting models show elastic demand for rooms/gambling, they'll add perks or throw in extras to bring more peeps in. When their models show inelastic demand - that is, about the same demand among a range of pricing schemas - they will push towards the highest rates the market will bear.

In the 60s, 70s, 80s, and even 90s, such very sophisticated forecasting and revenue management models simply didn't exist. So you had a lot of anecdotal "free stuff" thrown about. Once it was proven that such perks didn't actually work (and no, one geezer standing up and saying "It worked for ME!!!!!" doesn't count), you began to see free stuff restricted and extra revenue add-ons like resort fees, wifi charges, etc.

Virtually the entire audience for Strip casinos these days is travelers. A growing percentage of pre-COVID revenue was coming not from shows (many in decline), but day clubs at pools. Target: 20-somethings with lots of cash and very little in the brain department. Most of the Strip casinos couldn't give a flying turd about locals. And why not? In 2020, there are outstanding local off-Strip casinos that can do that job for them - Green Valley Ranch, Red Rock, the M, and so on.
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