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December 7, 2009

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Brief: Venetian pre-booking rooms at $167 per day

Thursday, Oct. 22, 1998 | 11:50 a.m.

He told investors at a high-yield debt conference sponsored by Goldman Sachs in New York that the bookings "have been secured at our projected rate" -- $167 per day -- "without a formal retail consumer marketing campaign."

Brad Stone, Venetian executive vice president, said a rise in Las Vegas-area room and food-and-beverage revenue during the 1998 first half "reinforces" the Venetian's business plan, which calls for targeting conventioneers accustomed to spending more on such amenities in other cities.

"Conversely, the primary decreases have been seen in the area of baccarat, which is not a material part of our business strategy," he said.

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