RateShepherd Team

Mayweather Pacquiao Hotel Room Rates

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The Mayweather-Pacquiao fight brought over 200,000 visitors to Las Vegas on May 2nd. Billed as the Fight of the Decade, the competitors took home upwards of $100 million for 12-three minute rounds of boxing. However, on the first Saturday in May it was not just fists flying, hotel rates on the Las Vegas strip were flying high (until the last minute). Listed below are how Las Vegas hotels yielded their rates for fight night compared to their best available rate (BAR) in April:

Hotel Fight (BAR) April (BAR) Fight % Increase
Royal Resort 623 28 2125.00%
Palms Place Hotel at the Palms 799 59 1254.24%
Rumor Boutique Hotel 510 39 1207.69%
Bluegreen Vacations Club 36 999 92 985.87%
Silver Sevens Hotel & Casino 273 26 950.00%
Aria Resort & Casino 1139 113 907.96%
The D Las Vegas 169 19 789.47%
El Cortez Hotel And Casino 165 19 768.42%
Rio All-Suite Hotel & Casino 249 29 758.62%
Trump International Hotel Las Vegas 824 97 749.48%
Flamingo Las Vegas 214 26 723.08%
Encore At Wynn Las Vegas 1300 169 669.23%
Westgate – Las Vegas Hotel & Casino 200 26 669.23%
Luxor Hotel and Casino 229 31 638.71%
Palace Station Hotel and Casino 145 20 625.00%
MGM Grand Hotel and Casino 499 70 612.86%
Excalibur Hotel Casino 229 33 593.94%
Hard Rock Hotel & Casino 249 36 591.67%
Circus Circus Hotel & Casino 159 23 591.30%
Hooters Casino Hotel 159 23 591.30%
Wynn Las Vegas 1105 161 586.34%
Plaza Hotel and Casino – Las Vegas 199 29 586.21%
THEhotel at Mandalay Bay 799 123 549.59%
Tropicana Hotel and Casino – Las Vegas 259 41 531.71%
The Palazzo Resort Hotel & Casino at the Venetian 999 159 528.30%
The Venetian Resort Hotel & Casino 999 159 528.30%
Planet Hollywood Resort & Casino 275 44 525.00%

Using our rate shopping technology, RateShepherd was able to track real time rate movements starting with the announcement of the fight. Rate shopping alerts began on May 1st as hotels drastically dropped their rates to catch undecided travelers. RapidWatch detected that nearly all Las Vegas hotels started undercutting hotel rates in the 24 hours leading up to the fight. Rate shopping reported that many hotels cut their rates by 25%-50% in the 24 hours leading up to the fight.

On average, Las Vegas saw an increase in ADR of more than 200% year over year. Now it is up to the revenue managers in Las Vegas to prepare for the next fight of the century (which we all hope occurs every year).

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3 Ways to Increase Room Revenue in 2015

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Hotels have seen ADR steadily increase since 2009. With stronger occupancy and new product positioning, hotels can always look for ways to increase revenue. Here are 3 ways that are worth a visit:

  1. Price Position Your Room Types
     Using property or room features can create perceived value to guests. View, floor, room size or other added amenities can allow guests to enhance their booking and differentiate the hotel from its competition. By having a range of prices it also allows guests to determine what kind of buyer they want to be at your property. Social psychology research has shown that the majority of buyers want to pick something in a middle price range because they don’t want to seem too cheap or too chic. They want something that fits just right.
  2.  Priority Check-in Upsell
    Having a priority lane for loyal guests has been a successful loyalty builder for years. More recently airlines have begun enhancing ticket prices by selling individual access to priority boarding. Large hotels can do the same thing. A fee of $5 or $10 acts as insurance to a traveler who may have a tight schedule. In addition, this may be a service used to enhance the upsell of a suite, or other premium room type while the guest is shopping.
  3. Maintain Rate Parity Across Guest Facing Channels
    Guests are able to book a room while they are standing in the lobby of the hotel. In less than 10 minutes a guest can compare your room rates on multiple OTAs and your own booking engine. They will go with the cheapest rate. If they choose to book at the desk as a walk-in and the rate is more than what they found online, it will create a negative guest interaction and could result in lost business.
RateShepherd.com clients are able to track the price position of competitors and watch the market moves in real time. This unparalleled view into room types, promotions and price changes helps hotels of all sizes compete better and increase revenue. Try it FREE today.
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