MGM orders partial hotel closures for Mirage, Mandalay Bay
MGM Resorts properties The Mirage and Mandalay Bay will halt mid-week hotel operations in late November to address depressed demand.
The resorts will close their hotel wings Monday through Thursday beginning 30 Nov and lasting into December. The properties will still operate casinos, restaurants and other amenities throughout the week.
“We are constantly evaluating occupancy levels and adjusting operations accordingly,” MGM said in a statement. “While we do not currently expect the mid-week hotel closures to remain past December, we will continue evaluating business levels to determine how long they are in effect.”
Earlier this month MGM made a similar move to temporarily close Park MGM’s hotel tower mid-week.
Other Las Vegas operators have instituted their own mid-week hotel changes. Wynn’s Encore was the first property to close its hotel Monday through Thursday.
Caesars-operated Rio Hotel and Casino will reopen 22 Dec accepting only weekend reservations.
As Covid-19 cases spike around the country and state governors implement new shutdown orders, out-of-state travel is likely to decline.
MGM is wary of running up operation costs with little revenue to show for. The company, which owns 10 resorts on The Strip, reported $1.1bn in third quarter revenue, a 66% decline year-on-year.
MGM CEO Bill Hornbuckle noted that declining mid-week traffic contributed heavily to a 44% occupancy rate for the quarter.
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