Vegas Free-for-All - Golden Nugget "Fremont Street Experience Fee"

rayxtwo

Jun 11, 2013
11:30am

Quote

Originally posted by: melonhead

Quote
Originally posted by: drmilled
I see where another bean counter has initiated another asinine "fee"- the $5 daily "Fremont Street Experience Fee". Just another reason to avoid the Golden Nugget and any other casinos who decide to do the same.

This might cause snow flurries in Hell today, folks - but I totally agree with the doc! And like PJ, I was gravitating back to the Nugget after a few years break. $5 a night today, $10-$15 next year? Overall, this does not bode well for downtown.
Question for tax experts: Are resort fees taxed at a lower rate than room charges? If so, could be worth millions in extra profit. Just wondering, since I am sure most of us would be happier if Vegas properties would just give us a straightforward room rate instead of the extra fees.

That was a question I sent in for the QOD a long time ago but it wasn't chosen to be answered.

Ray

bbking

Jun 12, 2013
12:40am

Block User

Might have to start staying at the local Motel6.

CowboyKell

Jun 12, 2013
2:18am

Block User

Our local TOT (transient occupancy tax) is based on the price of the room not including resort or other fees. I had not thought about the tax savings before but it must be staggering for high volume properties.

I hate resort fees as much as anyone. However, I don't think these fees would keep me from staying at a property. We all came to LVA with one thing in common, a savvy ability to save money. I would hate to think anyone here is not smart enough to see ALL cost associated with a particular room and use these totals to compare actual prices.

I have always looked at resort fees as a marketing ploy to make their room price seem lower to the unsuspecting buyer. It doesn't fool me so I don't care.....much. If these fees actually reduce the tax burden of a company now I really can't blame them.

Dan Svatass

Jun 12, 2013
3:01am

Block User

Quote

Originally posted by: CowboyKell
Our local TOT (transient occupancy tax) is based on the price of the room not including resort or other fees. I had not thought about the tax savings before but it must be staggering for high volume properties.

I hate resort fees as much as anyone. However, I don't think these fees would keep me from staying at a property. We all came to LVA with one thing in common, a savvy ability to save money. I would hate to think anyone here is not smart enough to see ALL cost associated with a particular room and use these totals to compare actual prices.

I have always looked at resort fees as a marketing ploy to make their room price seem lower to the unsuspecting buyer. It doesn't fool me so I don't care.....much. If these fees actually reduce the tax burden of a company now I really can't blame them.

My thoughts exactly.

Resort fees shouldn't be a surprise to any LVA subscribers. And they're simple to account for in planning. And since darn near every place worth staying imposes them, it's really silly to stamp one's feet and refuse to go anywhere with a resort fee. You're just hurting yourself.

Clearly the market won't deter resort fees. If it hasn't already, it won't.

Resort fees are giving Nevada's leading industry a black eye. I think the Nevada Legislature ought to ban them, and require hotels to roll all required charges (other than room taxes) into the room rate. DOT just did that successfully with airline tickets, Nevada could do the same with hotel rooms.

Liondownnow

Jun 12, 2013
10:06am

Block User

After checking in to the Golden Nugget I was given a cool pair of glasses to enhance my Fremont Street Experience.... Not bad for $5 a day.

Wow...it really is better now!!!

Don the Dentist

Jun 13, 2013
12:38am

Block User

Quote

Originally posted by: Liondownnow
After checking in to the Golden Nugget I was given a cool pair of glasses to enhance my Fremont Street Experience.... Not bad for $5 a day.

Wow...it really is better now!!!

The dollar signs certainly refer to the Golden Nugget's bottom line.

I heard on the local news this morning that the GN says they pay more than $1 million to the Fremont Street Experience as their share of the cost.

Lets do some simple math. The GN has over 2,300 rooms. Not sure what the occupancy rate is but lets be REALLY conservative and say its 70%. Thats about 1,600 occupied rooms per night. At $5 per room that $8,000 additional income per night or $2.9 million per year.

The Las Vegas Convention and Visitors Authority lists the occupancy rate for all of Las Vegas at 84.4% in 2012.

Applying this rate to the GN, we are looking at $3.5 million added revenue, just a tad more than their expenses.

kev2128

Jun 13, 2013
12:43am

Block User

Yeah i just saw this and i think it sucks!

BIGLAR73

Jun 13, 2013
2:20am

Block User

FSE fee...what a CROCK!! Bite me, Nugget.

Glasses can affect your vision; especially when they have been emptied several times....

Spring Break 2000 !!!

Janis Meyer

Jun 13, 2013
9:00am

Block User

Las Vegas continues to price themselves out of the market for a lot of us. Las Vegas should be thankful they have all those California people coming on the weekend, because I have had it. Many good midwest choices now.

Dan Svatass

Jun 13, 2013
9:12am

Block User

Quote

Originally posted by: Minnesota3
Las Vegas continues to price themselves out of the market for a lot of us. Las Vegas should be thankful they have all those California people coming on the weekend, because I have had it. Many good midwest choices now.

Nothing in the midwest approaches what Las Vegas has to offer, for less.

Better resorts, better shows, better restaurants, better gambling, better weather . . . . The midwest's casinos can be fun, but they're no replacement for what Las Vegas offers.

The GN's decision to boost nightly rates $5 shouldn't spook anyone.

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