Wynn reported excellent earnings from the first quarter of 2011 and while profits were up a lot there was something that stood out as a good example of why profits rose.
Room revenue in Las Vegas was up 13.4 percent to $88 million during the quarter. The average daily room rate at Wynn and Encore was up 18 percent to $240, but occupancy dipped to 87.9 percent from 89.4 percent during the year-over-year period.
So, while a few less people are staying at the hotel (-1.5%) the people staying at Wynn are paying more (13.4%). That’s not much of a decrease in occupancy and is a good example of why profits are increasing. It will be interesting to see if other casino companies show similar results.
The following two tabs change content below.
Las Vegas Writer, Marketer, Consultant. I love Vegas and everything about it. When in Vegas do 3 things: eat, drink & gamble.
Latest posts by Marc (see all)
- Hard Rock International to Donate Various Mirage Hotel and Casino Artifacts to The Neon Museum - July 19, 2024
- Station Casinos Celebrates the Fourth of July with Fireworks at Red Rock Casino, Durango Casino & Resort and Green Valley Ranch - June 3, 2024
- Bellagio’s Conservatory & Botanical Gardens Unveils Elevated Elegance with “Higher Love” Summer Display Through Aug. 24 - May 31, 2024