[dude66]

July 6, 2008

SOUTHERN NEVADA ECONOMY: Wondering where the tourists are

"But for the first time in recent memory, two benchmark indicators of the health of Las Vegas, the number of hotel rooms in development and airline seat capacity at McCarran International Airport, are moving in opposite directions.

According to the Official Airline Guide, seat capacity at McCarran is expected to decline 12 percent in the fourth quarter. Meanwhile, the number of available hotel rooms on the Strip is expected to increase 18 percent by the end of 2009."

article: ReviewJournal.com - Business - SOUTHERN NEVADA ECONOMY: Wondering where the tourists are

[dude66]

July 6, 2008

Airline cuts, gas woes are leaving Las Vegas blue

"Nightly room prices were down 4 percent in Las Vegas compared with one year ago and gambling revenue was down 3.7 percent, according to data through April from the Las Vegas Convention & Visitors Authority. Total airline passengers through April were down 1.8 percent and traffic from California was down 4.8 percent."

article: Travel | Airline cuts, gas woes are leaving Las Vegas blue | Seattle Times Newspaper

[AA702]

Dude66, I understand your hate for Las Vegas, but how come you don't post the other bad news across the country? There is someone similar to your postings on the CA forums, its funny how some people like to post links when the news media is making those links old.

[airics]

if someone is so upset with this area, why are they even here? if you think the grass is greener on the other side, then go... what is stopping you?

[olecapt]

Originally Posted by dude66

July 6, 2008

SOUTHERN NEVADA ECONOMY: Wondering where the tourists are

"But for the first time in recent memory, two benchmark indicators of the health of Las Vegas, the number of hotel rooms in development and airline seat capacity at McCarran International Airport, are moving in opposite directions.

According to the Official Airline Guide, seat capacity at McCarran is expected to decline 12 percent in the fourth quarter. Meanwhile, the number of available hotel rooms on the Strip is expected to increase 18 percent by the end of 2009."

article: ReviewJournal.com - Business - SOUTHERN NEVADA ECONOMY: Wondering where the tourists are

Where on earth are you going with this silliness? Of course Vegas is going to have some problems with a down economy. That is written.

But Vegas has a vast set of responses. Push SWA who could potentially eat all the freed up visitors. Or Allegiant. Or a new Casino sponsored Airline with Casino room ties. There are so many alternate strategies that your though process is simply dumb. Yes it has problems. And yes it has solutions.

If Vegas is in trouble it is of the ten or twenty year sort. You really have to be hopelessly bias to believe the existing scenario is any great threat.

[sheriff]

Originally Posted by olecapt

Where on earth are you going with this silliness? Of course Vegas is going to have some problems with a down economy. That is written.

But Vegas has a vast set of responses. Push SWA who could potentially eat all the freed up visitors. Or Allegiant. Or a new Casino sponsored Airline with Casino room ties. There are so many alternate strategies that your though process is simply dumb. Yes it has problems. And yes it has solutions.

If Vegas is in trouble it is of the ten or twenty year sort. You really have to be hopelessly bias to believe the existing scenario is any great threat.

For 30-40 years now, citizens of LV have been saying--"LV is getting overbuilt"; yet, resorts have managed to increase revenue. Fact is, with so many projects cancelled, and @30% room growth by 2010, visitor volume decreasing along with revenue, the scenario for a "TRAIN WRECK" of LV economy is a reality. There is NO solution for increasing revenue by 30% by 2010.

[olecapt]

Originally Posted by sheriff

For 30-40 years now, citizens of LV have been saying--"LV is getting overbuilt"; yet, resorts have managed to increase revenue. Fact is, with so many projects cancelled, and @30% room growth by 2010, visitor volume decreasing along with revenue, the scenario for a "TRAIN WRECK" of LV economy is a reality. There is NO solution for increasing revenue by 30% by 2010.

So what?

Employment will increase significantly. Visitors will increase significantly.

Some corporate entities may lose a lot of money.

So What?

You missed the Rampart Fiasco? You think the Planet Hollywood joint is not based on the ashes of its predecessor?

There will certainly be losers. There is no indication that it will be Las Vegas.

[sheriff]

Originally Posted by olecapt

So what?

Employment will increase significantly. Visitors will increase significantly.

Some corporate entities may lose a lot of money.

So What?

You missed the Rampart Fiasco? You think the Planet Hollywood joint is not based on the ashes of its predecessor?

There will certainly be losers. There is no indication that it will be Las Vegas.

Vistor volume will NOT increase by 30%, revenue will NOT increase by 30%. The new full-time employment will result in layoffs, and reduced hours and income of ALL in the "valley". Regarding "losers", gaming corporations in LV have already lost 50-60% of their worth, over the last year, and will get much worse. The "size" of the pie will not change much, but the number of slices will increase dramatically.

[olecapt]

Originally Posted by sheriff

Vistor volume will NOT increase by 30%, revenue will NOT increase by 30%.

Who said it would. If you quote me Sheriff respond to what you quote. Not what you want me to say. Then again your comprehension is often less than desirable.

The new full-time employment will result in layoffs, and reduced hours and income of ALL in the "valley".

Unmitigated garbage. There will be a sharp increase in employment. Will it be in proportion to the increase in rooms? Perhaps not. So What?

Regarding "losers", gaming corporations in LV have already lost 50-60% of their worth, over the last year, and will get much worse. The "size" of the pie will not change much, but the number of slices will increase dramatically.

That is a corporate problem driven as much by expectations as by reality. Home builders have been hit much worse. Does that mean that the home building industry will now dry up and go away? And it has no impact on Las Vegas in the short term.

[sheriff]

Well, at least you realize revenue growth will not be in proportion to job growth. For the first time, LV revenue vs. growth is totally out of whack. This being the case, dictates--what? Worker income will DECREASE--------- doesn't matter if you work at a resort. And, yes, new resort openings will ABSOLUTELY result in others being laid-off, and reduced hours. For your information----- a "LV" fact--- the growth of a particular property has ALWAYS provided a decline in employees' income. You see, the increase of revenue is not significant, while the growth of employees is.