protecting your assets: rates, dates and space

© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.

Protecting Your AssetsRates, Dates, and Space


As presented at the IAEE Expo! Expo!

Annual Meeting and Exhibition Dec. 10-12, 2013Houston, TX


Session Moderator

Charlotte Pearson, CEMSenior Sales ManagerFreeman


Chris Meyer, CEM, CMPVice President, SalesLas Vegas Convention and Visitors Authority


Rates, Dates, Space

Association Nonprofit: Booking window is longer.

Corporate: Booking window is shorter.

The Las Vegas Convention Center has a current market mix of 51% Association and 49% Corporate.


Rates, Dates, Space

Midweek Weekend Citywide2007 88.7% 94.3% 90.4%2008 84.3% 89.8% 76.0%2009 78.2% 88.8% 81.5%2010 76.8% 88.4% 80.4%2011 80.7% 90.9% 83.8%2012 81.6% 90.8% 84.4%2013 82.8% 92.1% 85.6%


Occupancy at Gate Convention Centers (more than 500,000 square feet) averages 52.9% based on the PWC convention facility benchmarking 2012 survey.

The LVCC averages 72%.

Rates, Dates, Space


Mike Dominguez, CHSESenior Vice President Hotel SalesMGM Resorts International


State of the Hotel Industry:North America


Demand is Back

Demand Is Back


Revpar Back To 2007 Levels

RevPAR Back to 2007 Levels


Group Still Catching Up

Group Still Catching Up


Record Nights


Days Of The Week

Days of the Week


What Days Are Driving ADR?


ADR Growth in Group Hotels


Transient Premium Returns


Commodity Pricing


Beef Prices

53% Increase


Poultry Price

20% Increase


Salmon Price

50% Increase


Shrimp Price

82% Increase


Coffee: Five-Year Price

Peaked at $302


Coffee: 10-Year Price

106% Increase


Price of Cotton


Cotton Prices

43% Increase


Supply Growth--Very Slow

Demand Growth--Healthy, Despite

Everything

ADR--Will Drive RevPAR Recovery

Steady as She Goes