protecting your assets: rates, dates and space
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© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Protecting Your AssetsRates, Dates, and Space
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
As presented at the IAEE Expo! Expo!
Annual Meeting and Exhibition Dec. 10-12, 2013Houston, TX
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Session Moderator
Charlotte Pearson, CEMSenior Sales ManagerFreeman
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Chris Meyer, CEM, CMPVice President, SalesLas Vegas Convention and Visitors Authority
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Rates, Dates, Space
Association Nonprofit: Booking window is longer.
Corporate: Booking window is shorter.
The Las Vegas Convention Center has a current market mix of 51% Association and 49% Corporate.
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Rates, Dates, Space
Midweek Weekend Citywide2007 88.7% 94.3% 90.4%2008 84.3% 89.8% 76.0%2009 78.2% 88.8% 81.5%2010 76.8% 88.4% 80.4%2011 80.7% 90.9% 83.8%2012 81.6% 90.8% 84.4%2013 82.8% 92.1% 85.6%
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Occupancy at Gate Convention Centers (more than 500,000 square feet) averages 52.9% based on the PWC convention facility benchmarking 2012 survey.
The LVCC averages 72%.
Rates, Dates, Space
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Mike Dominguez, CHSESenior Vice President Hotel SalesMGM Resorts International
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
State of the Hotel Industry:North America
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Demand is Back
Demand Is Back
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Revpar Back To 2007 Levels
RevPAR Back to 2007 Levels
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Group Still Catching Up
Group Still Catching Up
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Record Nights
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Days Of The Week
Days of the Week
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What Days Are Driving ADR?
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ADR Growth in Group Hotels
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© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Transient Premium Returns
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Commodity Pricing
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Beef Prices
53% Increase
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Poultry Price
20% Increase
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Salmon Price
50% Increase
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Shrimp Price
82% Increase
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Coffee: Five-Year Price
Peaked at $302
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Coffee: 10-Year Price
106% Increase
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Price of Cotton
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Cotton Prices
43% Increase
© Copyright 2014 Freeman Expositions, Inc. Proprietary & Confidential.
Supply Growth--Very Slow
Demand Growth--Healthy, Despite
Everything
ADR--Will Drive RevPAR Recovery
Steady as She Goes
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