With 130,000 hotel rooms available (148,978 if you go to Nye County and Laughlin) you might think there will be "offers". You will probably be wrong! Finding a "deal" in a city whose major resort properties are close to capacity is becoming increasingly difficult. Why? Because the top resort properties are controlled by a select group of companies that have no incentive to discount.
Vegas Supply and Demand Law
Consider for a moment the simple law of "supply and demand". When supply is high and demand is low, prices fall. Vegas is booming, demand is high and supply is low. How is this possible with 130,000 rooms? The answer is simple: 30 million annual visitors and growing! In fact, the pace of growth is so phenomenal that mega resorts such as Mandalay Bay (43 stories of a $ 375 million spa with 1,120 apartments completed in December 2004) and the Venetian (currently expanding) and the recently completed $ 2.4 billion Win Las Vegas (opened in April 2005) added thousands of rooms to Heart of the Strip. So phenomenal is the growth that even outside state financiers like Donald Trump are getting in on the act. Demand for rooms exceeds supply, so prices go up!
According to an interview published on July 30, 2004 in USA Today, Trump's plans include a 64-story hotel-storey tower to be built on part of the Frontier property, located from the Wynn Las Vegas resort and next to the mall.
It is scheduled to begin construction sometime in 2005. The $ 300 million project will include 1,000 hotel rooms and 50 luxury housing units modeled after the Trump International Hotel and Tower in New York. There will be no casino in the property.
Only 10% of Las Vegas hotels are booked online
In the few articles I researched this year, published in various business magazines and by industry analysts, the real price for bookings for hotels offering online services to their visitors is approximately 10% nationwide. That, I believe, is an accurate representation of Las Vegas as well. (Our company operates several hotel reservation websites and these numbers are in accordance with our own).
Further proof: "Only about 10 percent of our rooms are booked at Hyatt.COM," says Gary Gottling, director of sales and marketing at Hyatt Regency Tampa.
This means that 90% of you use the internet to collect information, but they don't actually make your reservation online! Traditional travel agents and telephone calls are still the preferred method of reservation. The Internet is used as a source for gathering information and a little more. Great Players know this and use it to their advantage. Again, there is no incentive to offer lower prices if your customers do not take advantage of them. We will briefly address the issue of room taxation, saying that most local governments hate the Internet, since rooms reserved online for public interest fit into their available tax pool. Expect local government officials to act soon on this.
So where does your money go when you book online?
If you search Vegas.com you will find that they are the property of Greenspun Media Group (Henderson, NV), which publishes Las Vegas Sun Daily Daily, and owns Vegas Magazine, Showbiz Weekly, In Business, Las Vegas Weekly, VegasGolfer, Las Vegas Life and The Ralston Report. Greenspun Media is part of Greenspun Corporation, which also owns the local UP 25 Channel 25. Greenspun is a partner in Las Vegas ONE, a cable news channel. American Nevada, the real estate division of Greenspun Corporation, is one of the most recognized commercial and residential contractors in the Las Vegas Valley. Their annual advertising budget exceeds 7 figures! Someone has to pay the price for all this advertising.
You can try the popular LasVegas.com website, which has an interesting and history. The site's domain was licensed in 2002 by Stephens Media Group from Littlerock Arkansas (Las Vegas Review Journal, Hawaii.com) to Mandalay Resort Group and Parkplace Entertainment. Follow it now – 2004 Park Place became Caesars Entertainment, which was purchased by Harrah & # 39; s Entertainment. The deal came just one month after MGM / Mirage agreed to buy Mandalay Resort Group. Need a ribbon room? Hmmm – I think the pricing will be pretty consistent! And to think you could own LasVegas.com back in 1997!
IAC (InterActiveCorp), managed by Mega Financier Barry Dealer, manages these online travel booking agencies
· Expedia.com vacations
· Vegas packages on Expedia
Note (s): Expedia is No. 1 in the total number of online third-party travel reservations based on online booking agencies. But their share of the overall "reservation pie" is still very small. Mr Dealer also managed the recent acquisition of Ask Jeeves for only $ 1.85 billion. Don't expect these prices to drop any time soon.
Saber Holdings Corp owns:
Travelocity – # 3 in tourist reservations
Note: Saber was the "Big Player" in the travel agent industry, as most travel agent computers connected to their reservation systems. Travelocity is # 3 behind Expedia and Orbitz (now owned by Cedant Corp.)
Cedant Crop is the world's top franchise with over 6400 locations and owns or franchises:
· Orbitz – # 2 in tourist visitors
FYI – Cadant also owns Avis & Budget Rent A Car, Fairfield Resorts, Cheap Tickets.com as well as Century 21 and Cankwell Banker real estate franchises.
So where do you leave that? I would suggest that you read the tips below quickly.
Quick Tips for Vegas Visitors on a Budget?
You probably think I will suggest you to visit "out of season". Don't do it! August temperatures often exceed 110 degrees – and that is the temperature of the air, not the heat emitted from concrete and asphalt. No, I will suggest that you do something much simpler – stay out of the bar! Car rentals are cheap when you compare them to the exorbitant prices of the top mega resorts on the Strip. Try a hotel in Henderson or Summerlin. I would suggest smaller resorts like The SunCoast or The Orleans.
Rent a car and park behind Excalibur, New York New York, or the trendy mall (It's covered and very secure). Click on Internet ads and see what's available. While 90% of the rooms are booked with capacity, Hotels that are not fully booked are actually being advertised! Click on these ads! I once stayed at Fiesta Henderson for $ 29.95 a night for 3 nights in a row and had an apartment with 2 queen rooms! I found this deal in online advertising! In fact, when I called the hotel to try and get a better deal, I was told I had to book online! Try corporate housing as it is usually full on weekdays but is available on weekends when business travelers return home. Visit the Websites of Hotels you may want to stay at and sign up for their promotional emails so you receive offers sent directly to you before your trip (Use a free address like Hotmail for this purpose). Ask the desk when you check in for any additional benefits or offers available to guests. It's kind of like asking for a window seat on an airplane, if you don't ask for it, you won't get it. And my last tip is Pre-Fashion Form – Wear your most comfortable walking shoes and stock up on bottled water at your local grocery store before registering.