Travel Agent - December 8, 2008 - (Page 44)

DESTINATIONS LAS VEGAS Top-tier resorts such as Bellagio are slashing room rates SIN CITY BECOMES DEAL CITY Economic troubles in Vegas mean great deals for your clients WITH THE ECONOMY IN A FREEFALL, Las Vegas is getting hit harder than any other destination in the U.S. Now, the major casino resorts are rolling out some of the most incredible deals ever seen. In fact, during the last two months since we last reported that Sin City was on sale, prices have continued nose-diving, more value-adds are being piled on and absolutely no one is paying full price. It’s so dramatic, you’d think there was no one visiting this city. Although occupancy rates are still above 90 percent, the drop in occupancy has been enough to send room rates plummeting. BY GLENN HAUSSMAN The Numbers Las Vegas has too many hotel rooms, with thousands more coming during the next year; airlines have cut capacity into the market by as much as 15 percent; and weekenders from Los Angeles are staying away in droves. Combine that with an all-time low in the Consumer Confidence Index, and it’s a perfect storm to find your clients big deals. According to J.P. Morgan’s Las Vegas Strip Room Rate Survey for November 23-29, the average daily room rate precipitously dropped an incredible 28 percent compared to the same period one year ago. Now, rooms that were selling for an average $165 at this time last year are going for $118. And that doesn’t even take into account all the freebies that are being given away to lure travelers not only to Las Vegas, but to specific casino resorts. During the fourth quarter of 2008 to date, weekday rates are down 27 percent, while weekend rates are down 23 percent. Year-over-year rate decreases are becoming more pronounced as time goes on. For example, J.P. Morgan noted that during the third quarter of 2008, weekday rates sank 9 percent, while weekend rates were down 21 percent. Offers are changing regularly, so it’s always good to check each resort’s respective website, but the bottom line is that top-tier resorts such as Bellagio (www.bellagio.com) can be booked for as little as $149 a night. For reservations, call 888-987-6667. The Venetian (www.thevenetian.com) and The Palazzo (www.palazzolasvegas.com) are selling for as little as 44 | TravelAgent December 8, 2008 http://www.bellagio.com http://www.thevenetian.com http://www.palazzolasvegas.com

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Travel Agent - December 8, 2008 Reality Check On the Web Contents Contributors From the Editor Europe: Scotland Begins a Yearlong Heritage Celebration Pacific/Asia: Singapore’s Hotel Scene is Vibrant, Inventive and Luxe Egypt: Building Tourism was the Key Topic at the ATS Fall Conference in Cairo Hawaii: Oahu’s North Shore has a Gentle, Laid-Back Ambiance Special Insert: US Airways Vacations—Universal Orlando Master Specialist Canada: The Hotel Le St-James Offers a Taste of Elegance Las Vegas: Sin City May Not See Deals this Good for a Long Time Florida: The Eden Roc Hotel Re-Emerges after a Major Overhaul Central & South America: Chile is an Emerging Hot Spot Caribbean, The Bahamas & Bermuda: Barbados Hotel Undergoes Major Renovation A Jamaica Tourism Official Shares the Island’s Plans Two Little-Known Caribbean Properties are Worth a Look Cruises: 10 Reasons to Love the Ruby Princess Cover Story: Religious Tourism - Faith-Based Vacations are a Growing Niche, and Are Taking Off in Surprising Ways Delta Takes Off: The Delta/Northwest Merger canReshape the Aviation Industry Tours: Traveling in Style with NWA WorldVacations Agent Profile: This Full-Service Agency Turns personalized Service into an Art New Web Trends: Services Aim to Increase Agent Sales Agenda: Fam Trips, Deals & Incentives, Calendar Celebrity Solstice Hosts Forum for Economic Discussion Cap Juluca to Reopen in Anguilla Hawaii Seeks New Tourism Angles IWV: Scam or Opportunity? In the Spotlight Agent Access Classified Marketplace Editorial Index Advertising Index Special Supplement: South Africa: Your Journey Begins Here

Travel Agent - December 8, 2008

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