Caesars Raises Resort Fees at Three Vegas Properties, Including Soon-to-be-sold Rio
Resort fees at some of the most popular Las Vegas resorts have been going up in recent years and many would agree that paying these on top of the regular bill for a stay is among the worst parts of a trip to Sin City.
It emerged earlier this week that Caesars Entertainment Corp. has decided to stack up resort fees at three of its Vegas properties from October 15.
Resort fees at on-Strip Caesars Palace and Nobu Hotel Caesars Palace will rise from $44.21 per night (incl. tax) to $51.02. Guests of Rio All-Suite Hotel & Casino, located just off the legendary Las Vegas Strip, will soon have to pay a resort fee of $39.68 per night (incl. tax), up from $36.28 per night.
It is interesting to note that Caesars is raising the resort fee of a property it is in the process of selling. Late last month, the Las Vegas gaming and hospitality giant announced that it has entered into agreement to offload the hotel and casino resort that has been home to the World Series of Poker live poker festival for a while now.
A company controlled by a principal of New York-based Imperial Companies will purchase the Rio for $516.3 million. Late last week, the Federal Trade Commission gave the nod to the transaction, which is expected to close by the end of the year.
In Line with Competitors
Caesars is not the first major casino operator to raise resort fees at some of its Vegas properties this year. In August, MGM Resorts International raised resort fees at Aria, Vdara, and the Bellagio to $45 per night.
That came three months after rival Wynn Resorts raised fees at its Wynn and Encore properties to $45 from $35. However, the company dropped self-parking fees at the same resorts at about the same time, reversing its previous parking policy from July 2017 that introduced paid parking.
Asked for their comment on the increased resort fees, Caesars spokeswoman Kristin Soo Hoo said in an emailed statement to the USA TODAY that the company “will bring resort fees in line with relevant competitors.”
Similarly, an MGM spokesman said in August that the company is “constantly evaluating prices” in order to “ensure they properly reflect the business landscape and the services and amenities they support.”
At the time, Caesars said that it did not have plans to raise resort fees at that point. The company’s CEO, Tony Rodio, repeated that in the August 5 earnings call with investors. The executive elaborated that he wanted them “to be very judicious and cautious about taking those rates any further.”
Asked to comment on Mr. Rodio’s apparent change of mind, the Caesars spokeswoman said that they don’t have anything further to share at this time.
Caesars will soon become part of a larger casino resort group after it agreed to merge with Eldorado Resorts. The deal is expected to be finalized sometime in 2020.
Source: Las Vegas resort fees continue to rise with Caesars Entertainment, eu.RGJ.com
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