ZZZ - GMG - VEGAS INC 2011-2014

March 4, 2013

VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more

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Page 8 of 47

In business tourism caesars entertainment hotels start charging resort fees By Ron Sylvester���staff writer After years of marketing ���no resort fees,��� Caesars Entertainment will start charging the fees at its Las Vegas hotels. Caesars added fees ranging from $10 to $25 on March 1, covering charges for amenities including Wi-Fi, local calls and fitness centers. Caesars operates nine hotels in Las Vegas, including Caesars Palace, Harrah���s, Bally���s, the Flamingo, the Quad, Paris Las Vegas and Planet Hollywood. It���s something guests asked for, said Gary Thompson, the company���s director of corporate communications. Until now, Caesars had charged separately for such amenities, instead of tacking on resort fees, which have upset some hotel customers in the past. ���This is in response to the increasing demand from our guests to provide a package price instead of the inconvenience of separate fees,��� Thompson said in a statement Feb. 21. ���We continue to do all we can to provide our guests with the best value, best products and best experiences in Las Vegas.��� The value of the resort fee comes in the bottom line of the hotels, where they generate profits of 80 to 90 percent over the cost of the amenities provided, according to a report from NYU, where the Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management tracks national trends. The fees are in line with those charged elsewhere in Las Vegas, Thompson said. Nearly three dozen hotels across the valley still do not charge resort fees, including most downtown hotels, the M Resort, the two Arizona Charlie���s casinos, the Cannery casinos, Terrible���s Hotel & Casino and the LVH. legislature governor���s office seeks expansion of green tax breaks By David McGrath Schwartz���staff writer CARSON CITY ��� The state���s office of energy wants Nevada lawmakers to expand a property tax rebate program for green buildings, allowing rehabilitation projects of older buildings to qualify for the tax break. The program currently costs the state about $5.58 million a year in tax credits for 29 approved projects, which pay about $44.48 million in taxes. Under a law passed in 2011, only new buildings ��� except for some manufacturing buildings ��� can qualify for ���green building��� tax abatements. The rebate for existing buildings ended in 2011 amid concern that some rehabilitation projects received a disproportionate tax abatement. Assembly Bill 33 would allow renovations to existing buildings to once again qualify for tax incentives, said Stacey Crowley, director of the Nevada State Office of Energy and the governor���s energy adviser. But local government representatives opposed the plan to expand the program during an Assembly Commerce and Labor Committee hearing. ���This will further the erosion of tax revenues to counties,��� said Jeff Fontaine, executive director of the Nevada Association of Counties. The Nevada League of Cities and Clark County representative also spoke against the bill. | 4 MARCH 2013 20130304_VI09_F.indd 9 | SBA REAL ESTATE LOANS FROM 3.49%* Make your ownership dream a reality with an SBA 504 loan from Nevada State Bank. With ���exible qualifying standards, longer terms, and as little as 10% down, you can choose from standing inventory or construct a space to ��� t your needs. Pursue your Small Business dreams while still conserving capital. Put our decades of knowledge and experience to work for you. Bring your banking home. �� 53 years in Nevada I Over 50 branches statewide nsbank.com/SBARealEstate | 866.784.8031 *SBA and Bank approval required, restrictions apply. 3.49% interest rate requires automatic payment option from a Nevada State Bank account. 9 2/28/13 2:38:57 PM

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