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VegasTripping: Ep. 20 - Future

By Chuckmonster on Thursday, 18th February 2016 10:22pm
  » filed under Podcast  comments: 1

   

VegasTripping Podcast

Ep. 20 - Future

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Comments & Discussion:

Great show guys. Lots of thoughts and feelings about the past present and future.

The fact that MGM claims that pay for parking is commonplace in other major markets has certain tourism and convention departments across the country dancing in the streets. Their future just became brighter.
Chicago used to be known as the convention capital of the country. Slowly but surely the town started to lose its grip on that distinction. Why? Because costs started to get out of control and became unreasonable. Conventions started to leave or threaten to leave. Where did they threaten to go? Las Vegas. Now, MGM is pointing to markets like Chicago in justifying their paid parking model. Whoops.
Las Vegas is a getaway destination: An all-inclusive in regards to mindset, spirit, risk, excess, and adrenaline. It is not NY, LA, or Chicago. Make your money, attract your guests, and increase your share price by catering to those features that other markets can’t duplicate.
I wonder how much pressure executives at SW Airlines faced when easy money started coming in for other carriers from baggage fees. SW was smarter, and believed in their model and their mission. Did baggage fees solve problems financially and otherwise for the other airlines? No. Did SW make changes here or there that maybe went unnoticed? Yes. But, they were able to do it because they did not mess with the spirit of their mission. While SW is not for everyone, who they cater to are very loyal and it shows in their success. I don’t think that anyone in the Strip duopoly can think like leadership in SW. One is bankrupt and the other is forced to implement fees that cut to the soul of the Las Vegas spirit. The future to them is next quarter, next year, and maybe 2 years from now. I doubt they can afford to have a 5 or 10 year strategic plan. Culture eats strategy for lunch and Vegas is full of culture and spirit.
During the show, one of the guys mentioned how interesting it would be if Britney Spears dealt BJ at PH. Funny, yes, but that is typical of how a Vegas person thinks. In the end, it will be a “Vegas Thinker” that charts the course for a successful future on the strip in Las Vegas. Meanwhile, downtown is where the “Vegas Thinkers” seem to be and that is why they have an easier time looking towards the future.



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