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Las Vegas Parking Fees Not to Blame for Visitors Drop, Caesars CEO Believes

The introduction of parking fees at Las Vegas Strip properties has not been keeping visitors away, according to Caesars Entertainment Corp. CEO Mark Frissora. As reported by the Las Vegas Review-Journal, Mr. Frissora attended a Bank of America investor conference in New York City on Thursday.

The casino executive said Thursday that his company has looked into whether parking fees at its Strip properties were too high by launching a 30-day promotion that offered complementary parking at its LINQ Hotel. The promotion aimed to test customer reaction and whether there would be any increase in the number of visits.

Caesars introduced parking fees last year. It then raised resort fees at some of its properties across the Strip this past February and raised parking fees at those in March. According to Mr. Frissora, the customer feedback they have received over the past several months has not indicated that people have been steering away from their properties, despite the higher fees.

Caesars rival MGM Resorts International, which operates the largest number of hotel and casino resorts across the Strip, was the first to introduce parking fees at its properties. Wynn Resorts is the other Strip operator to have implemented such fees. However, the company rolled out certain changes to its parking policy earlier this year, treating customers that spend over $50 at its Strip properties to free parking.

Caesars’ LINQ Promotion

Despite Mr. Frissora’s comments from yesterday, it should be noted that the company’s parking policy has drawn quite some criticism from customers. Many Strip visitors have taken to social media to express their disappointment with the fact that they are required to pay for parking. Some have even pointed out that they have been traveling to the Strip less frequently mainly due to the parking fees.

There have also been negative comments regarding Caesars’ LINQ parking campaign. According to many, the gaming and hospitality giant has not done enough to popularize the offer. To that, a spokesperson for the company has responded that they have published information on their website and have reached out to travel websites to distribute the message.

Separate rounds of comments have noted that 30 days, which was the exact duration of the promotion, was not enough to find out whether parking fees had any negative impact on visits at the casino resorts.

Caesars’ stock tumbled last month after the company reported disappointing July and said that it expected a weaker August, as well. In addition, Las Vegas has seen a 1.2% drop in the number of visits through the month of July. The decrease was greatly attributed to the October 1 mass shooting. However, many investors believe that the hiking resort and parking fees may also have affected negatively visitor numbers.

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The post Las Vegas Parking Fees Not to Blame for Visitors Drop, Caesars CEO Believes appeared first on Casino News Daily.

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