Venetian/Palazzo, Offers, online or snail mail? UPDATES, if you have any New Info? Thx.

Well, at least we "low rollers" know where we stand.

Thanks for posting this.

It was great while it lasted, V/P, but I'll take my low-roller ass to Imperial Palace before I ever pay a dime for one of your rooms.

Its as I said at the beginning of this thread. V had a model that worked for them. Depend on the convention trade with their attached Sands Convention Center and then fill in with the "common" folk during the week. Say what you like it worked for them. They are just going back to what worked.

Here's another piece from yesterday's conference call (quoted directly from the call transcript). An excerpt of Las Vegas Sands COO Michael Leven's reply when the subject of V/P comps came up-

"We have sort of changed our mix considerably over the last couple of months in Vegas. We have improved our room penetration, our group numbers for 2011 are basically on the books today compared to last year, like over double what they were at the same time. We experienced over 90,000 room nights in the month of January, which were significantly ahead of last year and we're still booking. We've actually increased that group room allotments. We've lowered our comp allotments considerably to get a better customer in, which may cause some short-term occupancy looks that looks down, but to the cash component to us is actually better."


So they lowered the comps in order to get "a better customer" in. Translation- (a customer who PAYS for the room AND loses money in the casino, as opposed to those of us that got FREE rooms and lost money in the casino). He mentions group bookings have doubled and the cash component is better since they dumped the comps. So from a business standpoint, it appears they won't be going back to giving out the comped rooms. I saw in other posts that Grazie has been telling people they're waiting for the "new system" to be rolled out when it comes to comped rooms. Well there doesn't appear that there will be any new system. The "new system" is paying for the rooms.

Sounds like they're doing what I suspected and posted earlier on this thread. I sure hope all the other casinos don't follow suit. The other properties will either step up their promotions to try and capture mid level players who were loyal to V/P or do the same as V/P is doing and snub their noses at us as well. I'd probably stop going to Las Vegas if I had to pay full price for everything there, especially since many things are inflated in cost.

I'd be interested to see what their gambling figures are like since they've stopped bringing in known players with a propensity to gamble.

Net revenue for V/P was up 16.5%. The actual gambling hold was a little less (but the cuts in comps saved them millions), turning it into a positive, along with increased earnings on rooms, food and beverage, and retail.

OK, honestly, I have no idea why they are offering me a comp for next weekend, but this talk of people getting their comp offers pulled right before the trip has me a little nervous.

I am thinking about shooting an email to my Caesars host asking him what he can do for me for next weekend.

I think that would be a wise move, Karen.

I have an email drafted to my caesars host now. When i run home for lunch, I have to find my players card number and attach that to the email and hit send.

This host at V/P didn't even contact me until mid December, after so many offers had been pulled. So I doubt if my comp will be rescinded. But I don't need the stress of worrying about it. let's see what Caesars can do for me.


And I am really really irritated at them for re-running my LOC app out of the blue too!

Maybe thats why your offer Won't be pulled.........because they checked you out already,
and re-approved your credit line.

THAT would be enough for me to tell them, MY business, is None of Their business,
and they can kiss my grits.

Just wish I had a Time machine and could get all those points back Somewhere else.
Anywhere else, than V/P...... What a WASTE.......For Any of us who played there, especially last year.

I understand your wanting a nice room, and really hope you get it.

I just think what they've done to all the other players though?
Sucks.

It isnt a viable option for places other then perhaps MGM though their facility is geared towards entertainment not conventions. V was and is fairly unique. The Sands Convention Center is an integral part of the property from back in the planning stages for the original V through now. Their bread and butter for many years were the conventions. To duplicate the success the "new" strategy might bring V/P and make it attractive to other casinos those casinos would need as extensive a convention facility and staff as The Sands which isnt very likely.

Many hotels/casinos can host the most elaborate of weddings, entertainment, even sporting events like boxing but their convention space would be limited to fairly minor groups and could not handle the major players V/P can with large trade groups meeting there.

Whether other places choose to cut back on offers remains to be seen but if they do it wont be based on V/P which is in a rather unique situation.