venetian comps

[doris13]

i read in the las vegas advisor that gaming revenues are down 47% at the venetian since they cut back on their comps.this should bring a smile to the faces of all of you that were affected by their cut backs.

[BOOPSAHOY]

GOOD! What they were doing was just wrong!

[doris13]

yep,and it came back to bite them in the butt!

[BOOPSAHOY]

[BillyJoe]

Yes Doris and Boops, I read that too. But their 'sold' hotel rooms were up for that same period. So their partner, InterContinental Hotels, will view that period as a positive. 

[doris13]

billy,the rooms are probably being sold to those on conventions and those people do not gamble.i would think that is more of a negative than positive. 

[doris13]

billy,just went back to look at the article and it says occupancy rate down 6% to 83.9.i still think i would prefer empty rooms to empty casino.

[BillyJoe]

billy,just went back to look at the article and it says occupancy rate down 6% to 83.9.i still think i would prefer empty rooms to empty casino.
Yes, Doris, overall occupancy was down, but "sold" rooms, as a percentage, was up. That, of course, was due to the lack of comped rooms that just went empty. So, if  they end up with 100 rooms in their hotel, since they can only sell 90, and not give any away, their occupancy rate will be at 90%, with 100% sold. The InterContinental Hotel 'suits' will all get bonuses,  and the casino will be empty.