LAS VEGAS (KSNV) — MGM Resorts CEO Bill Hornbuckle acknowledged that the company’s high prices over the summer contributed to a negative perception of Las Vegas during a tourism slump.
Speaking during a quarterly earnings call, Hornbuckle admitted, “When we think about pricing and things that got everyone’s attention, whether it was the infamous bottle of water or a Starbucks coffee at Excalibur that cost $12, shame on us.”
He emphasized the need for sensitivity to customer experiences at budget-conscious properties like Excalibur and Luxor.
Visitors to Las Vegas have expressed frustration over the high costs.
Stacie Sosa from San Antonio, Texas, noted, “It’s ridiculous, inflation has just gone crazy.”
Michael Davenport from Nebraska shared his experience, saying, “I paid $15 to $17 for a 16-ounce can of beer, Budweiser; you can buy a whole case for that.”
Jane and Jerry Langley from Arkansas described their experience as “pricey,” with meals costing about $60 for two people.
Hornbuckle mentioned that MGM Resorts has since adjusted prices and cited other factors, such as Spirit Airlines cancellations and a drop in Canadian visitors, as contributing to the tourism decline.
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Despite the high costs, one visitor from Ireland said, “I don’t find it overly expensive; we’re just enjoying our time here.”
