VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
Issue link: https://www.ifoldsflip.com/i/33897
READ ALL ABOUT IT TOURISM REAL ESTATE ANOTHER WAVE OF FORECLOSURES MAY BE COMING By Buck Wargo staff writer Falling home prices in Las Vegas and prospects they won’t recover soon may trigger a new wave of people walking away from their homes. That’s the concern of those who track the Las Vegas housing market, which is undergoing its own mini version of a double-dip decline in prices. Studies have suggested about one-fourth of Las Vegas foreclosures are so-called strategic defaults in which people walk away even though they can afford their payments. The prospect of falling prices, prices that won’t rebound for years and a weak economy may SEE HOME PRICES PAGE 12 NICKELS AND DIMES: Allegiant Air earns almost 30 percent of its revenue through sales of food, drinks, upgrades and baggage fees. Allegiant Air Finds Ways To Get Into Customers’ Wallets By Richard N. Velott a senior staff writer A report by a company that specializes in building corporate profits through ancillary revenue strategies has confirmed what many travelers to Las Vegas have already surmised: that Las Vegas-based Allegiant Air is one of the top air carriers in the world at selling things to passengers besides their tickets. The report released by Shorewood, Wis.-based revenue consultant IdeaWorks and Spanish transaction processor Amadeus says Allegiant continues to generate the highest percentage of ancillary revenue as a portion of total revenue at 29.2 percent. The IdeaWorks report said ancillary revenue worldwide has grown by 96 percent since 2008 to $21.5 billion . “While ancillary revenue can help compensate cuts in the base fare, it has evolved to offer new services to travelers that were not traditionally included in the ticket price,” said Jay Sorensen, president of IdeaWorks and SEE ALLEGIANT PAGE 12 Prepare to Compete · | 13 JUNE 2011 | TOP 10 Ancillary revenue as a percentage of total revenue 1. Allegiant 2. Spirit 3. Ryanair 4. Jet2.com 29.2% 22.6% 22.1% 21.0% 5. Tiger Airways 20.5% 6. easyJet 7. AirAsia 8. AirAsia X 9. Flybe 19.2% 18.7% 18.1% 15.7% 10. United Continental 14.7% COURTS POKER STAR SUES ONLINE BUSINESS By Steve Green senior staff writer As expected, poker superstar Phil Ivey filed suit against Tiltware LLC—a suit suggesting he’s trying to distance himself from the company’s alleged ties to illegal online gambling. Ivey disclosed that he’s sitting out the World Series of Poker until Tiltware’s Full Tilt Poker business reimburses players whose funds were frozen in April by the US Justice Department’s crackdown against illegal online poker operations. IVEY SEE IVEY PAGE 12 · College of Business · EMBA Program Marks Milestone, Welcomes 10th Cohort · · Accounting Programs Receive Top 25 Ranking · · MBA Students Broaden Business Perspective on International Trip · Learn about these stories and more at: http://business.unlv.edu 11 ETHAN MILLER