Comments on: Does Las Vegas Deserve a Recovery? http://toughmoneylove.com/2009/11/04/does-las-vegas-deserve-a-recovery/ The Hard Truth about Money and Personal Finance Tue, 31 Jan 2012 13:37:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: cjbr549 http://toughmoneylove.com/2009/11/04/does-las-vegas-deserve-a-recovery/comment-page-1/#comment-6506 cjbr549 Tue, 17 Nov 2009 19:05:47 +0000 http://toughmoneylove.com/?p=4886#comment-6506 I live fairly close to Vegas and go there several times a year. The good deals on the strip started drying up about 8 years ago. I'm sure they have been going downhill for quite a while before that. There are still places you can get a good deal, most notably downtown. We only stay downtown now, even for conventions we go to that are on the strip. Having driven in Vegas quite a bit, we know how to get around and avoid the worst traffic. The Binions properties downtown are fairly nice and not too expensive. But everyone we know that wants to go to Vegas wants to stay on the strip. We used to accommodate them and book a room at the same place, but we won't even do that now. There are still deals to be found, you just have to go off strip to find them. I live fairly close to Vegas and go there several times a year. The good deals on the strip started drying up about 8 years ago. I’m sure they have been going downhill for quite a while before that. There are still places you can get a good deal, most notably downtown. We only stay downtown now, even for conventions we go to that are on the strip. Having driven in Vegas quite a bit, we know how to get around and avoid the worst traffic. The Binions properties downtown are fairly nice and not too expensive. But everyone we know that wants to go to Vegas wants to stay on the strip. We used to accommodate them and book a room at the same place, but we won’t even do that now. There are still deals to be found, you just have to go off strip to find them.

]]> By: MasterPo http://toughmoneylove.com/2009/11/04/does-las-vegas-deserve-a-recovery/comment-page-1/#comment-6432 MasterPo Sat, 14 Nov 2009 04:02:24 +0000 http://toughmoneylove.com/?p=4886#comment-6432 I'm forced to agree with Rick. That was the only room available and that's the price. Not the hotel's fault you had no other choice. BTW, I've heard from many other sources that Vegas is in really deep doo-doo economically. Not only the usual recession stuff but the number of conventions and business conferences is waaaaaaaaay down this year, in part due to the Obama administration making it a virtual crime for business leaders to fly out and get together for networking and elbow-rubbing. Ask anyone in the hotel and conference industries, 2009 is a very very bad year for just that reason! I’m forced to agree with Rick. That was the only room available and that’s the price. Not the hotel’s fault you had no other choice.

BTW, I’ve heard from many other sources that Vegas is in really deep doo-doo economically. Not only the usual recession stuff but the number of conventions and business conferences is waaaaaaaaay down this year, in part due to the Obama administration making it a virtual crime for business leaders to fly out and get together for networking and elbow-rubbing. Ask anyone in the hotel and conference industries, 2009 is a very very bad year for just that reason!

]]> By: kitty http://toughmoneylove.com/2009/11/04/does-las-vegas-deserve-a-recovery/comment-page-1/#comment-6392 kitty Mon, 09 Nov 2009 16:33:32 +0000 http://toughmoneylove.com/?p=4886#comment-6392 18 years ago I went to a convention in Las Vegas - COMDEX. This is like a computer show where IT vedors show their new technology and businesses that are interested have a chance to watch it, learn about it. This was a bit of a reward trip - our company was represented, but our group was there just to walk around, see what other companies show, etc. The hotel the corporation reserved wasn't as fancy as the one stayed in, but it was about $140 a night which wasn't a small amount then and certainly way too much for Las Vegas. The trip was fun, the convention was interesting, and you had a chance to pick up some freebies - toys, T-shirts and such by just watching a presentation in one booth or the other. You could win a printer - expensive back then - if you could beat a junior national champion - a 15 year old girl - in ping pong. Nobody managed. One of our people had a chat with one of the hotel employees and they said they really hated COMDEX and that Las Vegas was losing money on it because people came in, booked all of the rooms but spent very little if any time gambling. Sure people ate, looked around, went to a show or two, but most weren't interested in gambling or at least limited their losses to low double digit amounts. Ditto about shopping in overpriced stores on the strip - some people drove to malls around, but I don't know anybody who spent any money on the strip. I'd imagine the same is true for your convention. When people come to Vegas to gamble they might get cheap price for the hotel, but they lose a lot of money. But conventions take up lots of hotel rooms but don't bring casinos much revenue. And all the people who are employed in casinos have to feed their families, pay their mortgages and other bills too. 18 years ago I went to a convention in Las Vegas – COMDEX. This is like a computer show where IT vedors show their new technology and businesses that are interested have a chance to watch it, learn about it. This was a bit of a reward trip – our company was represented, but our group was there just to walk around, see what other companies show, etc. The hotel the corporation reserved wasn’t as fancy as the one stayed in, but it was about $140 a night which wasn’t a small amount then and certainly way too much for Las Vegas. The trip was fun, the convention was interesting, and you had a chance to pick up some freebies – toys, T-shirts and such by just watching a presentation in one booth or the other. You could win a printer – expensive back then – if you could beat a junior national champion – a 15 year old girl – in ping pong. Nobody managed.

One of our people had a chat with one of the hotel employees and they said they really hated COMDEX and that Las Vegas was losing money on it because people came in, booked all of the rooms but spent very little if any time gambling. Sure people ate, looked around, went to a show or two, but most weren’t interested in gambling or at least limited their losses to low double digit amounts. Ditto about shopping in overpriced stores on the strip – some people drove to malls around, but I don’t know anybody who spent any money on the strip.

I’d imagine the same is true for your convention. When people come to Vegas to gamble they might get cheap price for the hotel, but they lose a lot of money. But conventions take up lots of hotel rooms but don’t bring casinos much revenue. And all the people who are employed in casinos have to feed their families, pay their mortgages and other bills too.

]]> By: Rick Beagle http://toughmoneylove.com/2009/11/04/does-las-vegas-deserve-a-recovery/comment-page-1/#comment-6354 Rick Beagle Fri, 06 Nov 2009 21:19:28 +0000 http://toughmoneylove.com/?p=4886#comment-6354 TML, Geez, where are my manners?! 1) I hope you have a GREAT time! and 2) I hope you have a safe trip home! Peace. Rick Beagle TML,

Geez, where are my manners?!
1) I hope you have a GREAT time!
and
2) I hope you have a safe trip home!
Peace.
Rick Beagle

]]> By: Rick Beagle http://toughmoneylove.com/2009/11/04/does-las-vegas-deserve-a-recovery/comment-page-1/#comment-6351 Rick Beagle Thu, 05 Nov 2009 06:31:25 +0000 http://toughmoneylove.com/?p=4886#comment-6351 TML, I am sorry, but what tenet of capitalism did these folks break? They had you cornered and decided to maximize their profits at your expense. Sort of like what the health care industry is doing across the country (you know I just had to add that). For what its worth, I agree that overt greed is an ugly thing to behold, but like it or not, that is capitalism in a free market. So suck it up, pay the man his due and know that these clowns showed you a thing or two about how to maximize profits. And trust me, they don't give a damn whether you come back or not, they are just trying to weather this recession intact. Peace. Rick Beagle TML,

I am sorry, but what tenet of capitalism did these folks break? They had you cornered and decided to maximize their profits at your expense. Sort of like what the health care industry is doing across the country (you know I just had to add that).

For what its worth, I agree that overt greed is an ugly thing to behold, but like it or not, that is capitalism in a free market. So suck it up, pay the man his due and know that these clowns showed you a thing or two about how to maximize profits. And trust me, they don’t give a damn whether you come back or not, they are just trying to weather this recession intact.

Peace.
Rick Beagle

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