Friday, January 15, 2016

Las Vegas: MGM Resorts International Will Begin Charging For Parking This Spring

This could represent a BIG shift in traffic to the Las Vegas Strip.
MGM Resorts International will break from a long-standing Las Vegas tradition and begin charging customers to park at the company's Strip resorts as part of a $90 million strategy to "expand and enhance" the company's parking infrastructure.

The parking fees will go into effect sometime between April and June the company said in a Friday statement, which also announced plans for a $54-million, 3,000-space parking structure MGM will construct near the northwest corner of the Excalibur.

Construction of the new parking facility is scheduled to begin later this spring with completion scheduled in the second quarter of 2017.

As part of the program, MGM Resorts will charge parking fees at all its Strip resorts. The company operates nine Strip developments, including the CityCenter complex, MGM Grand, Bellagio, Mandalay Bay, The Mirage and Circus Circus. The Signature Towers and the Crystals and Mandalay Bay Place shopping malls will be exempt.

Overnight guests utilizing a self-park facility will pay $10 or less. Las Vegas locals will be given a grace period for free parking after the program begins and can maintain their free-parking status by enrolling and earning privileges through M life, the company's customer loyalty program. Nonresident guests can also earn free-parking status through the M life program.

MGM Resorts called the parking fees "moderate" when compared with similar fees in other "high-demand" tourist and convention markets, such as New York, Los Angeles and Orlando.

I'll be curious to see if (main competitor) Caesars Entertainment follows suit, and if it impacts how locals bring their friend to what properties on the Strip.

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