Home » VT News » MGM Postpones Paid Parking
MGM Postpones Paid Parking
Sources are telling VT that MGM Resorts International - owners of Mandalay Bay, NYNY, Excalibur, Luxor, Monte Carlo, MGM Grand, Aria, Vdara, Mirage and Circus Circus - have postponed the implementation of paid parking. The implementation of paid parking was scheduled to co-incide with the opening of The Park and its attached arena next week.
We're told that the reason behind the delay is a chaos among employees.
Transition of valet employees to new contractor positions has been nothing short of a fiasco, with supervisors leaving for other properties, undefined roles, undefined benefits, and tip compliance policies all being in complete disarray.
The implementation of paid parking programs at MGM Resorts is now scheduled to begin on May 31, 2016.
This two month delay will eliminating 2/3 of potential parking revenue from MGM's Q2.
Paid parking at MGM Resorts properties is part the Profit Growth Plan, a concerted effort on behalf of MGM top brass to increase revenue by reducing costs, shaving corners on comps and quality, business optimizations and the implementation of new fees and service charges. The desired goal from the Profit Growth Plan is to drive up MGM's stock price, and in turn increase the value of a massive bonus plan given to seven of the top MGM executives.
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Comments & Discussion:
I vaguely recall the bonus plan was sufficiently long-term that it would make sense, but I also vaguely recall that if the stock didn't move at all the execs would still rake in sizable bonuses. "Here's $15M for not accidentally setting fire to the hotel tower."
But paid parking? What's their goal, to make travelers hate LV as much as possible? To drive more business to uber and taxis? To clog SLVB *even more*?
I think the exceptions became more complicated than they anticipated. Do you exempt high-rollers, employees, locals, guests w/ existing reservations? It seems like the primary people left paying would be drive-in guests from SoCal. That's a sizable demographic to be discouraging, especially since they are already responsible for the weekend room rates.
Assuming the sources are correct about the delay and the reason(s) for the delay, it seems this isn't a case of decision-makers responding to their customers. Instead, it's a failure to implement a new policy within a stated deadline. Heckuva job, MGM!
A couple of months to dump thousands of people into an ill-defined sub-contractor role? Gee, what could possibly go wrong?
Sounds like there wasn't enough long term planning on how to tick off guests.
One day they're working for world-famous MGM Mirage. The next day they're working for a parking lot company.
Yeah, I can see why employees are balking at this shabby treatment. And once the grubby asshats upstairs get "outsourcing" on their brains, where does it end? This can't be good for overall company morale.
"Here's an idea, Mr. Murren. Let's totally screw our valet parking staff so that the most pissed-off people in Vegas are parking our customers' cars! We'll save dollars by the minute!"
"Excellent. Implement it immediately!"
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