I found the following info in Quicken's stock market news this morning, concerning MGM Mirage.
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Hotel occupancy was 90 percent in the first quarter, up slightly from the same period in 2002, while the average daily room rate gained 8 percent to $120. Revenue per available room was also up 8 percent to $108.
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That daily rate might explain why I've never stayed at MGM, Mirage or TI<g>.

I have stayed at the Mirage on several occaisions, at TI once, at the MGM, Barbary Coast, RIO, Gold Coast, and the Orleans. While I think that the interor of the Mirage is one of the prettiest in Vegas, the rooms are not. Rooms at the Orleans are bigger, prettier, and more confortable than the Mirage, and the rates are far superior. I will take the Orleans any day. I guess I have become accustomed to Coast resorts. (IMHO) Wendell

Daisy,

How do you suppose they list comped rooms?

If you've ever looked at the card on the back of most hotel doors in Vegas, they list the room rate several hundred dollars more than anyone ever actually pays for the room. I always figured this was what they wrote off for tax purposes when the comped a room.

IF I'm right, and IF they also figure this into the statistics you had, that would explain the high figure for average room rate.

Interesting thought, Jeff. I've seen those posted prices everywhere, and I've always assumed that was some type of legal disclaimer, so they could jack the price up during peak events like New Years Eve. Your tax theory sounds plausible too.

Daisy -

A couple of comments:

1. A lot of times these average room rates include the rates corporations pay when they have business meetings there. Last month, a group of people from my company had a conference in Vegas and stayed at the Mirage - their "group corporate rate" was $209. These hotel can really soak the businessman and raise the average room rates.

2. If you check room rates for some of these MGM Mirage properties at different times per year, they vary widely depending on whether there are large conventions in town or not. And sometimes you can get a real deal if you book at the last minute. In fact, I read an interesting article once of a guy who called the MGM Grand once every two hours to check on the rack rate. While it was $159 at noon, the same room was down to $59 by 8:00PM that evening.

3. I agree with Wendell that the rooms at the Mirage are nothing special. They're adequate and functional but I could have been staying anywhere and certainly wouldn't pay a premium price for them.

4. I stayed at Bellagio last Thanksgiving and paid a casino rate of $99 for my room and again, while the room was nice and functional, it was nothing special. My parents room, on the other hand (which I got for $199 on Travelocity) was huge and absolutely spectacular and worth every penny. They're still talking about it!

Those rates posted opn the card on the inside of your door, I had always figured they where posted there, so if you overstay your reservation, that is the rate you will be charged. Having those rates there make it legal to charge the high tarrif, after all....it was posted!

That's my legal disclaimer theory, Lee<g>, but Mike brings up a good point about the convention rate. Early on, in blissful ignorance, while attending conventions, I would identify myself as part of the group to get the "special rate" ... right up to the point when I figured out I could get a better rate as a plain ole tourist, without either a computer or a slot card.

The rate on my door at my room at the Paris was $2,000 per night. I don't the IRS would let them write off that amount. It's grossly over inflated.