Real value of comps

[moongoa]

I’m sure that this has been discussed before, but I’ve had an interesting Enlightenment. While I was looking on Expedia for a room at the Silver sevens lol all these strip hotels came up. Looking at the cost that were listed on Expedia I was shocked at how low they actually were. I’m sure it has to do with the weekend I was looking at, but it really made me question, the value of the hotel rooms that are given. Don’t get me wrong. I won’t step over $100 that’s comped but it seems the value listed on MGM site versus Expedia are different so therefore I’m thinking I’m getting more value than I really am.

I know the old rule don’t play for comps But I think subconsciously the comp value is registering in my head and making me make decisions based upon that. I think for the past year, I have been doing this and looking at the win/loss statement. It definitely has Affected my personal bottom line on money spent during trips. while I’ll take the free room. I need to not feel so warm and fuzzy about it as honestly it’s not really a factor when I can book the same room myself for 100 to 150 bucks a day that sure doesn’t justify the spend. Pennies on the dollar.

 

[ColoVegPlayer]

Well, the value of a comped room is really just the "casino rate" of the room. At some places, this is a fixed rate throughout the year, other places it fluctuates.

Keep in mind the casino is paying the hotel department for that room. When you see those super cheap rates, that might be because the hotel department realizes they have a lot of unused rooms, and would rather get butts in the door for a steep discount.

 

[EzE]

Are you talking about the cost of the room shown on your comped reservation? That's basically full retail rate and no one ever pays that. If you logout and book through MGM with whatever promo/sale they are using then they are usually the same as the booking engines like Expedia. The 'Casino Rate' is usually even lower than that, which is what the Casino operations pays to the Hotel operations for the room.

 

[moongoa]

Are you talking about the cost of the room shown on your comped reservation? That's basically full retail rate and no one ever pays that. If you logout and book through MGM with whatever promo/sale they are using then they are usually the same as the booking engines like Expedia. The 'Casino Rate' is usually even lower than that, which is what the Casino operations pays to the Hotel operations for the room.

Yes I was

 

[Asa Nisi Masa]

... it seems the value listed on MGM site versus Expedia are different so therefore I’m thinking I’m getting more value than I really am..

I just did an Expedia search for a Studio Fountain View room at Vdara for Thurs Aug 1 to Tues Aug 6. Expedia quoted $1,252 (plus tax and resort fees) for the trip. I went to the MGM website and logged is as a non-rewards member. The MGM site quoted the exact same price as Expedia.

 

[don1701]

I’m sure that this has been discussed before, but I’ve had an interesting Enlightenment. While I was looking on Expedia for a room at the Silver sevens lol all these strip hotels came up. Looking at the cost that were listed on Expedia I was shocked at how low they actually were. I’m sure it has to do with the weekend I was looking at, but it really made me question, the value of the hotel rooms that are given. Don’t get me wrong. I won’t step over $100 that’s comped but it seems the value listed on MGM site versus Expedia are different so therefore I’m thinking I’m getting more value than I really am.

I know the old rule don’t play for comps But I think subconsciously the comp value is registering in my head and making me make decisions based upon that. I think for the past year, I have been doing this and looking at the win/loss statement. It definitely has Affected my personal bottom line on money spent during trips. while I’ll take the free room. I need to not feel so warm and fuzzy about it as honestly it’s not really a factor when I can book the same room myself for 100 to 150 bucks a day that sure doesn’t justify the spend. Pennies on the dollar.

That was in "the good old days" and in the (hopefully) soon to come days were resort fees are forbidden.
$29 Flamingo room? looks nice, but it is actually $100 after resort fee and whatever fee and taxes.
When it goes to "fully comped". Yes, 30-40% of your theoretical loss. That's it

 

[Gambler4Fun]

It's hard for me to pay for the Vegas hotel rooms since I'm getting very used to comp rooms from CET/MGM. Would you guys still go to Vegas if you have to pay for the rooms out of pocket?

 

[don1701]

It's hard for me to pay for the Vegas hotel rooms since I'm getting very used to comp rooms from CET/MGM. Would you guys still go to Vegas if you have to pay for the rooms out of pocket?

Yes, absolutely. The experience/feeling is worth it.

 

[huskermike]

It's hard for me to pay for the Vegas hotel rooms since I'm getting very used to comp rooms from CET/MGM. Would you guys still go to Vegas if you have to pay for the rooms out of pocket?

Sure, but once a year instead of 4-5 times.

 

[Mark Reagin]

I would perceive a lack of free room comps as a sign my money was no longer wanted in Las Vegas.

 

[Asa Nisi Masa]

It's hard for me to pay for the Vegas hotel rooms since I'm getting very used to comp rooms from CET/MGM. Would you guys still go to Vegas if you have to pay for the rooms out of pocket?

Hell yes! I was going to Vegas and paying out of pocket long before I started getting comps. The only difference in terms of the Vegas experience is now I go more often, and get much better rooms.

 

[Mr Bulldops]

I just did an Expedia search for a Studio Fountain View room at Vdara for Thurs Aug 1 to Tues Aug 6. Expedia quoted $1,252 (plus tax and resort fees) for the trip. I went to the MGM website and logged is as a non-rewards member. The MGM site quoted the exact same price as Expedia.

That's probably because most properties and OTAs usually have a Best Rate Guarantee (BRG) policy. They're not as lucrative as they used to be. Before they changed the policy, IHG actually gave you your first night free if you found a better rate after booking on their site. I scored many free nights on BRG claims.

It's hard for me to pay for the Vegas hotel rooms since I'm getting very used to comp rooms from CET/MGM. Would you guys still go to Vegas if you have to pay for the rooms out of pocket?

I likely would not. I may work it into a regular vacation schedule, but the reason I go to Vegas primarily for vacation is that the negative theo from my gambling pays for my room and food. If all of the sudden I was still putting in that same play AND had to pay rack rate for a hotel room and pay for food, I'd likely just end up going to an all-inclusive in Cancun, on a cruise or just save my cash entirely.

 

[don1701]

So... super stupid calculation example that doesn't help most of you
Skiing in Davos vs. Superbowl in Las Vegas in February
Both exactly 7 nights.

Davos
Travel cost, $50
Hotel cost, $ 2000 (lower side)
Ski ticket, $ 500
Food/Drink cost: $5000 (lower side)
Travel time (back and forth): 4h

Las Vegas
Travel cost; $1500 (Premium Economy)
Hotel cost: -$500 (Freeplay/Resort Credit)
Food/Drink cost: $2000
Travel time: 24h

Sooo...obv. not included is Gambling...but there is A LOT of gambling $ leeway. and no, $5k is not exaggerated for food/drinks in Davos for a week...let alone Verbier/Crans Montana/Zermatt which will be way worse...

 

[moongoa]

It's hard for me to pay for the Vegas hotel rooms since I'm getting very used to comp rooms from CET/MGM. Would you guys still go to Vegas if you have to pay for the rooms out of pocket?

Yes, but I wouldn’t be staying at top-tier properties probably more like horseshoe, flamingo, Mandalay Bay. Luxor might even throw in the Rio.

 

[Meiswinner6901]

In the last two years, Boyd and Station casinos has cut their comp level so I have been difficult to get a comp room for my theoretical loss and play level and length of time at blackjack, free bet blackjack and craps. But they are easier on back end comp for foods without a room. Especially in the Orleans.

CET and MGM has been much easier for room but difficult and slow on reward credit, back end and front end food comp, and their resraurant and food court tends to be expensive. Not dealing 3 to 2 bj in main floor except in Planet Hollywoods midday evening (25 double deck six deck, raised to 50 when busy), Caesars Palace (25 only in midday morning one table, 50 all else), Mandalay Bay (25 only first few mpment after opening at 8pm midday, 50 all else).

I would diversify my play. Stay in the Horseshoe, Harrahs, Luxor etc and take Deuce to downtown, 201 to the Orleans, and 202 to Rio/Gold Cost/Palms to get better values for blackjack, lower crap table limits and easier food comps.

I think I still play enough theoretical loss to keep CET MGM happy for giving me free room for several midweek days (sometimes even weekend) on Strip one king two queens non suite. I would absolutely budget my play based on the above food room diversification.

 

[Gambler4Fun]

Yes, but I wouldn’t be staying at top-tier properties probably more like horseshoe, flamingo, Mandalay Bay. Luxor might even throw in the Rio.

Would you also reduce your trip frequency?

 

[moongoa]

Would you also reduce your trip frequency?

No, I don’t think so, I’ve been doing it so long. It’s hard to break old habits if I experience burnout yes but every time the trip gets close that old magic feeling comes back again.

 

[Gambler4Fun]

I likely would not. I may work it into a regular vacation schedule, but the reason I go to Vegas primarily for vacation is that the negative theo from my gambling pays for my room and food. If all of the sudden I was still putting in that same play AND had to pay rack rate for a hotel room and pay for food, I'd likely just end up going to an all-inclusive in Cancun, on a cruise or just save my cash entirely.

Sure, but once a year instead of 4-5 times.

Agree. I'll also probably reduce to once a year instead of 6-7 times. As Bulldops as stated, there are other vacation spots to travel to if there are lack of comps. But with the free rooms/FPs/RCs, Vegas is almost a free vacation, or a quick weekend getaway assuming gambling outcome is reasonable.

 

[moongoa]

For me, Vegas are always just long weekends leave on a Thursday night. Come back on a Sunday so I still do all the other vacations too. Maybe I might cut it down to arrive Friday. Leave Sunday a quick hit it and quit it which may be better in the long run, I have a hard time getting away for long trips so therefore generally, the one week and over trips are only two or three times a year

 

[ReTriggerMe]

Keep in mind the casino is paying the hotel department for that room

Well... that's a paper, or electronic transaction, with the inter-organizational price presumably based on some realistic costs.

I used to work in marketing for a Fortune 500 company. Came to find out that my time as a marketing manager was billed to the operational entities if i did a marketing project for them.. at a rate that confounded any realistic basis. Plus actual execution costs, like paper, postage, radio time, or whatever. It helped me understand why I was a hero if I developed a campaign that 40 of our outlets "bought", and a bum if my creativity only attracted four or five places.

My friend works for a large public utility .. he says you can hardly talk to another department before the subject of inter-organization revenue comes up. Not cost allocation... revenue.

Perhaps revenue is an internal term, and it's not making it to the P&L as legit revenue... but in the corporate game of budgets and contribution... I'm willing to bet there are some heated discussions about what the casino "pays" the hotel, and legit cost is only part of the equation.