Las Vegas grapples with $131.6 million in lost revenue
Published: March 11, 2009
According to the Las Vegas Convention and Visitors Authority, 340 events have canceled within the past 90 days. That translates to an estimated $131.6 million dollars in lost spending in a city that’s already seen its occupancy rate fall nearly 12 percent from 2008.
For more about why companies are gun-shy about meeting in Las Vegas and what that means for local hospitality workers, read “Signs go south for LV” by Benjamin Spillman.
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- Is it the money or the message that causes change? : Plan Your Meetings:
[...] But you get the idea. A lot of the hysteria and havoc was wreaked on the industry because sensational, factually inaccurate stories were published, picked up, blown out of proportion and considered fact. And it was people like this gentleman, city workers, hotel staff and other hospitality industry veterans that were suffering as a result. [...]
