CASINO BUSINESS TRENDS: Strip hotel revenues surge - 2004-02-17
Hotel operations, seeing an increase in leisure travelers and limited expansion, set a record in January and are on track to set new marks in following months, operators and analysts said Monday.
Revenues from hotel rooms, food and beverages at the top nine hotel-casinos in Las Vegas increased almost 10 percent compared with an increase of only 2.4 percent in total hotel-casino operation revenues in 2003, data released Monday by Applied Analysis show.
"(The city) is in the middle of a secular trend that is giving hotel operators the gumption to pass rates on to leisure travelers," said Joe Greff, gaming analyst at Fulcrum Global Partners, an independent Wall Street investment research firm.
Read the full story at Las Vegas Review-Journal