Las Vegas Sands Corp.: Pricing Game in Vegas
In 2016, MGM Resorts International announced it would break with the long-standing tradition of providing free parking on the Las Vegas Strip. Other Las Vegas resort companies, including Caesars Entertainment and Wynn Resorts, soon followed suit. Las Vegas Sands Corp. owned the Venetian Resort Hotel Casino, the Palazzo, and the Sands Expo and Convention Center, and had no plans to charge for parking. As more hotels and casinos chose to implement paid parking on the Las Vegas Strip, the president and chief operating officer of Las Vegas Sands Corp. properties faced a decision: should the Las Vegas Sands Corp. properties continue to offer free self-parking and use it as a differentiating marketing tactic, or should it follow the trend of its competitors and generate additional income by introducing parking fee? Seok Woo Kwon is affiliated with University of Calgary.