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Higher room rates are not dissuading Las Vegas visitors

By Chuckmonster on Wednesday, 15th December 2004 10:08am
  » filed under Las Vegas  comments: 0

   

When Mandalay Resort Group released its latest quarterly profit report this month, it was room rates -- not gambling revenue -- that did most to boost earnings by about 65 percent.

That's probably no great surprise, as Mandalay owns the largest block of mid- to lower-price rooms on the Strip, often subject to price swings. The company also generates the greatest share of revenue from nongaming sources such as rooms than any other major Strip operator.

What amazed Wall Street most was the company's ability to push the envelope on room rates more successfully, it seems, than the competition. In other words, Mandalay is raising room rates significantly and still filling its rooms.



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