Wynn Resorts Paid Parking & Free Parking on the Strip
Earlier this year MGM Resorts began charging for parking at their resorts on the Strip. Then, a couple of days ago Caesar’s Entertainment announced the implementation of parking fees at eight more Strip casinos. Those two companies control the vast majority of Strip casinos, but of course Wynn, Las Vegas Sands and a few other companies have properties there as well.
Now, we know more about the immediate future of paid parking at those other resorts. While the vast majority have said they will not be charging at this time, Wynn Resorts decided to announce paid valet parking at their two Strip properties, Wynn & Encore. Valet parking charges will begin in mid-December and will be as follows:
- 0-4 hours: $13
- 4-24 hours: $18
- Each additional 24 hours: $18
For the time being self parking will remain complimentary at these two properties.
Other Strip Properties
In response to this week’s paid parking news, many of the other Strip properties have chimed in to announce their plans. According to the Las Vegas Sun & News 3 here is what they had to say:
- Tropicana – “The property has no plans to implement parking fees, either for valet or self-park.”
- Hooter’s – “Part of our charm is we’re not like the big megaresorts and we appeal to a more locals kind of crowd. And we want to do things to cater to them. So yeah, we took it off the table.”
- Las Vegas Sands (Ventian & Palazzo) – “The Las Vegas Sands has no plans to charge for parking at our Las Vegas properties,”
- SLS Las Vegas – SLS Las Vegas has no plans to charge for parking “at this time.”
- Cosmopolitan – “The Cosmopolitan of Las Vegas continues to evaluate the resort’s business needs and the landscape in regards to paid parking. However, at this time, we don’t have further details to share.”
Analysis
One by one they will all fall into the practice of charging for parking. It is too much of a competitive disadvantage not to, plus I think they will find themselves overwhelmed with people looking for free parking. For properties located further up Strip like The Palazzo and SLS that may be a good thing, but I think the Cosmopolitan for example will have no choice but to charge considering they are now surrounded on all sides by Casinos that are charging.
Conclusion
This rollout of parking fees seems to be going similar to how resort fees emerged as a staple in Las Vegas. Now, the majority of properties charge for parking in some way and slowly the last few properties will quietly announce parking fees when it makes financial sense to do so. In the mean time, enjoy free parking while you can and consider picking up a Hyatt credit card for free Mlife parking and a Founderscard for Total Rewards Diamond and free parking at their properties.
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What a joke. Sky high resort fees, 6:5 blackjack, and now this. A trip to Vegas is looking less and less likely for us.
You would think with the number of casinos popping up nationwide Vegas would be trying to attract customers, not repel them.
If charging for parking at a casino is a good thing, then why not charge for sitting? Yeah, charge $5 to sit at the blackjack table. How about a mandatory tip charge on the free drinks? Sure, gamblers love to be nickle and dimed.
*whispers* this is probably a good thing
You state NOT charging for parking would be a “competitive disadvantage”. I would say the competitive disadvantage would be charging for parking (leading to lost customers). If others are charging, and you are not, I would say it is a competitive ADVANTAGE for you, I’m more likely to go to the one that does not charge.
The business may determine that despite the risk of losing customers (competitive disadvantage) it is still worth the parking revenues. This is especially true if pretty much all competitors follow in line, and/or we continue to give those that charge for parking our business, Most likely the Vegas businesses figure that they got away with resort charges successfully , so why not parking charges.
Personally I dislike feeling nickeled and dimed (or should we go to saying dollared). Are pay toilets next? Maybe Nik-O-lok was ahead of it’s times in the 70’s.
Hey Carl. Let me clarify. It is a competitive disadvantage because they can’t make up the revenue lost by not charging. The same thing happened with resort fees. Caesar’s Entertainment thought they could not charge resort fees and use that to attract customers, but it didn’t work and they lost a lot of revenue and thus were forced to begin charging.
If the market accepts parking fees (and it looks like it has) then any company not charging is at a disadvantage.