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Old 07-05-2008, 08:14 PM
 
289 posts, read 1,039,489 times
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Down and out in Las Vegas
Saturday, 5 July 2008

"With Americans cutting back on luxuries, and the price of transport rocketing, the so-called "Vegas vacation" is facing the axe. This week, as the nation celebrated Independence Day, major hotels were taking stock of a fall in all-important room occupancy rates from their usually impressive 95 per cent levels to nearer 80 per cent."


full article: Down and out in Las Vegas - Americas, World - The Independent (http://www.independent.co.uk/news/world/americas/down-and-out-in-las-vegas-860513.html - broken link)
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Old 07-05-2008, 10:20 PM
 
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80% occupancy isn't bad by national standards, though I can see why it's worse in Las Vegas than it might be in other areas where sheer volume of visitors isn't required to churn out profits on slender margins.
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Old 07-05-2008, 10:28 PM
 
Location: Las Vegas, NV
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I'm not sure about the numbers, but how about places like Orlando where they also depend on tourist dollars?
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Old 07-06-2008, 12:11 AM
 
Location: Here and there, you decide.
12,908 posts, read 27,982,887 times
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didn't you hear.. the economy's so bad here, that they closed Orlando?
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Old 07-06-2008, 12:40 AM
 
Location: Las Vegas, Nevada
12,686 posts, read 36,343,096 times
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I've always heard that around 80% occupancy is normal, so maybe what they are saying is that for a big weekend like the 4th of July it should be at 95%. We went to Spamalot tonight and the hotel seemed busy but the show room wasn't full. Most people we saw in Wynn looked like they had plenty of money.
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Old 07-06-2008, 01:18 AM
 
1,755 posts, read 5,331,353 times
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Quote:
Originally Posted by Buzz123 View Post
I've always heard that around 80% occupancy is normal, so maybe what they are saying is that for a big weekend like the 4th of July it should be at 95%. We went to Spamalot tonight and the hotel seemed busy but the show room wasn't full. Most people we saw in Wynn looked like they had plenty of money.
I don't know how they come up with this, but, local news is reporting revenue is down 7% from last year; this is really the only figure that matters.
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Old 07-06-2008, 01:25 AM
 
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The area of corporate dollars spent in LV is also on the decline. The last NAB, the two largest exhibitors, Apple, and Avid pulled out at the last minute. The next major convention, MAGIC has been here since 1989, twice a year, four days each show--------has cut back to three days this August. I see this as a 25% loss of revenue to LV.
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Old 07-06-2008, 01:33 AM
 
Location: Somewhere.
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We are in a recession...all over the united states, not just here.
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Old 07-06-2008, 03:31 PM
 
Location: Las Vegas, NV
2,990 posts, read 8,709,860 times
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Quote:
Originally Posted by PinkString View Post
We are in a recession...all over the united states, not just here.
I totally agree, why pin point Las Vegas? is it because it was such a boom town before? There are so many cities that are hard hit, even my family members that live in the Maryland/DC area are feeling the pinch of layoffs and housing declines and high gas prices.
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Old 07-06-2008, 04:14 PM
 
Location: Leaving fabulous Las Vegas, Nevada
4,053 posts, read 8,252,207 times
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Default Why pinpoint Vegas?

I think because it's a major vacation destination and the residents of those other hard hit cities either aren't going on vacation or they're sticking closer to home. The Vegas economy also lacks the diversity of other cities.
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