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By Ray Brewer (contact), John Katsilometes (contact) 
Thursday, July 1, 2010 | 6:15 p.m.
Room rates are spiking at MGM Resorts properties on the Strip for Nov. 13, when the boxing match between Manny Pacquiao and Floyd Mayweather Jr. could happen at the MGM Grand Garden Arena.
As of Thursday afternoon, less than one day after word spread of the mega-fight inching closer to reality, a basic room at the MGM Grand for Nov. 13 skyrocketed to $260. It's $180 on both Nov. 6 and 20, the Saturdays before and after the proposed date.
The hotel has a 4,300 room capacity, and once full, would refer customers to the group's other properties on the Strip — such as Monte Carlo, Luxor and Mandalay Bay. The MGM also has another 2,500 rooms in its signature tower, which has the more high-end and expensive suites.
Rooms at Mandalay Bay are $229 on Nov. 13 and $129 the following Saturday. At the Luxor, rooms rates start at $160 for Nov. 13 and $105 for Nov. 20.
Increases in room rates for specific weekends months in advance are not uncommon, MGM Resorts Vice President of Public Affairs Gordon Absher said. Variables that boost room rates vary from hot concerts like Lady Gaga to popular annual events like the National Finals Rodeo.
But Absher also said the announced Nov. 13 date for the Pacquiao-Mayweather bout has led MGM Resorts officials to adjust room rates to meet a potential demand for a huge influx of fight fans on that weekend. This is true even without a signed contract to bring what doubtless will be an extraordinarily lucrative fight to the Grand Garden Arena.
"This is similar to airline rates rising and falling according to market conditions," Absher said. "Were there to be a major sporting event on any given date, people will most likely pay more for a room. In effect, we're protecting room rates on that date. We're protecting inventory."
Absher said MGM officials who set room rates were well-aware of recent coverage that the fight is likely to be held Nov. 13 in Las Vegas. But if it is held elsewhere, the rates will adjust accordingly.
"These variables influencing room rates change day-to-day, even hour-to-hour," Absher said.
Room rates at Gaylord Texan in Grapevine, Tex., which was the host hotel for Pacquiao's March 13 fight with Joshua Clottey at Cowboys Stadium in Dallas, are not any higher than a typical weekend. The base rate is $199 for Nov. 13, $199 for Nov. 20.
Pacquiao promoter Bob Arum of Top Rank said Wednesday that several negotiation hurdles that previously prevented the fight from happening have been cleared.
The two sides couldn't agree on drug-testing methods in the spring, with Mayweather agreeing to take the fight only if Pacquiao agreed to be tested through blood sample.
So, Pacquiao fought Clottey and Mayweather took on Shane Mosley on May 1 at the MGM Grand. Both were victorious.
Mayweather, whose Golden Boy Promotions has a policy against commenting on fight negotiations, said after the Mosley fight that he didn't want to fight again in 2010. He would have to ditch that stance for the mega-fight to occur in the fall.
MGM Grand, a AAA Four Diamond resort, offers 5,044 rooms and suites.
MGM Grand features KÀ by Cirque du Soleil; Brad Garrett’s Comedy Club; and world-class entertainment at the Grand Garden Arena and Hollywood Theatre.
The resort offers signature restaurants by celebrity chefs including Tom Colicchio’s Craftsteak, Emeril Lagasse’s New Orleans Fish House, Wolfgang Puck’s Bar & Grill and Michelin three star and Forbes Five Star restaurant, Joël Robuchon.
As part of its ongoing “Grand Renovation,” MGM Grand has remodeled all rooms and suites in its main tower and is adding several new experiences to its lineup including Hakkasan Las Vegas Restaurant and Nightclub, a new upscale dining/nightlife concept (coming in April 2013).
MGM Grand also features a state-of-the-art, non-smoking conference center, the Grand Spa, Cristophe Salon, "CSI: The Experience" and an inviting pool complex featuring the tantalizing daylife of Wet Republic.
Upscale accommodations include The Mansion, an exclusive hotel within the hotel; the luxurious two-story SKYLOFTS at MGM Grand; and The Signature at MGM Grand, a luxury all-suite, non-gaming hotel located adjacent to the main resort.
Why is this news? Good for them... I hope they make some $$$
How about 699 usd plus resort fee for a standard room? This would be up almost 200 per cent from the adjusted rate, and therefore would be a nice little extra bonus for the beaten-down company. Plus, let's not forget, the resort fee would come on top of it. Gym use and long distance domestic phone calls are very welcomed during this super fight weekend.
From Switzerland
mgm and vegas in general is really missing the boat. it needs to harness the power of all the people that still come to vegas for events like this and leverage it for sponsorhips that will help lower the cost to the average tourist and then they will be able to come back maybe 2 or 3 times more per year.
This is also why i come less to Vegas, i used to come 4-6 times a year, now its 1-2 . i still get comped at lower end places but everything else is way up compared to other gambling cities.
supply and demand
If they can get the price, good for them. They own the rooms and can charge what they feel they can get. Every city with a Nascar track has $250 rooms at the Super 8 on race weekends that are $50 rooms any other time. Just don't expect to see me there on that weekend. I'll show up on a slow day in the mid-week and take advantage of the $29 room rate at the Imperial Palace without resort fees.
It is news, smartone618, because boxing fans around the world would be interested to know that the company negotiating for this lucrative fight to be held at one of its arenas has made a tangible move to plan for that likelihood. This is another piece of evidence that the fight is likely to be held in Las Vegas, an event that would inject millions of dollars into our long-struggling economy.
I hear that airfare goes up around Thanksgiving, Christmas and New Year's too...?
I guess I will stay at the Las Vegas Hitlon for $89 both nights and take the monorail to the fight.
In fact, the $375 dollar +/- (resort fees) savings gets a good seat at the fight and a couple frosty beverages.
I am not a fight fan but I venture to guess the tickets to the fight are going to be a whole lot more than the night's stay at MGM. My buddy likes fights, maybe we fly out and join the fun, lucky I have my own place nearby. It is great MGM can bring this fight to Vegas, there was talk of it going to Texas so hats off to MGM for trying to make this happen! Fights are a man things so you know the money will flow into the service areas and they send the wife to the high end shopping.
MGM just want their guests to feel like they got f---ed without going to a brothel.
So, John K, you were in Dallas for the Manny P. fight and at any one point in time you thought Bob Arum had enough yank to move this fight anywhere but Vegas? Pretty funny. Lebron, Dwayne and Chris are all coming to the Mavericks, before something like that happens.
@the_staff_writer_above - right on! Doesn't matter if it is an MGM property or any other - this fight will do our local economy some good! I hope we get it! I know the police may not like the added "attention" but still, if it happens here, people will spend here. Nothing wrong with that!