{"id":25009,"date":"2019-09-30T11:35:36","date_gmt":"2019-09-30T19:35:36","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=25009"},"modified":"2019-09-30T11:35:36","modified_gmt":"2019-09-30T19:35:36","slug":"resort-fees-assailed-hard-rock-rocks-rockford","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/resort-fees-assailed-hard-rock-rocks-rockford\/","title":{"rendered":"Resort fees assailed; Hard Rock rocks Rockford"},"content":{"rendered":"

Resort fees, the bane of customers to Las Vegas, are inspiring some congressional action. Lawmakers Rep. Eddie Bernice Johnson<\/strong> (D) and Rep. Jeff Fortenberry<\/strong> (R) are collaborating on \"\"a bill that would outlaw resort fees (it’s the Hotel Advertising Transparency Act of 2019<\/strong>). The bill states that \u201cadvertising that does not reflect the true mandatory cost of a stay at a place of short term lodging is deceptive.\u201d It would forbid<\/a> “a rate for a place of short-term lodging that does not include all required fees, excluding taxes and fees imposed by a government.\u201d The bill would be enforced by the FTC<\/strong>, while state attorneys general would be empowered to crack down on resort fee-ing hotels.<\/p>\n

\u201cNot only will this bill require upfront disclosure of all fees in the advertised price of a hotel room, but it will require the same for short-term rentals. Congress has a real opportunity here to pass a bipartisan, common-sense bill on behalf of American consumers,\u201d said Lauren Wolfe<\/strong> of Travelers United<\/strong>. Mind you, the bill has to get out of \"\"committee, pass the House of Representatives and somehow get into the Senate, where self-styled “Grim Reaper” Mitch McConnell<\/strong>\u00a0(R) has killed bills by the bushel. Also, don’t expect the private sector to take this lying down. We can hear the squeals of outrage from Venelazzo<\/strong> to MGM Grand<\/strong> already.<\/p>\n

Why not? Resort fees are big business. \u201cIt is projected that in 2019, over three billion dollars in revenue alone will be collected from consumers due to these hidden fees,” says Rep. Johnson (pictured<\/em>). If, by some miracle, the Fortenberry\/Johnson bill becomes law, look for hotel companies to ratchet up their resort fees as the moment of truth draws near. They’re shameless like that.<\/p>\n

* $850 million is supposedly the magic number that will give Phil Ruffin<\/strong> the keys to Circus Circus<\/strong>. That implies annual cash flow of $106 million (using Wall Street<\/strong>‘s 8X EBITDA valuation), impressive when you consider that Ruffin paid $775 million for Treasure Island<\/strong>, a much more state-of-the-art resort.<\/p>\n