MGM Mirage bets it's time to raise Vegas room rates
Deflation, we're told, is a bad thing. Unless it's deflation of ridiculously high prices -- say, for Las Vegas hotel rooms. Hotel prices came down in Vegas over the last year as the economy crashed and convention-going withered. Now, some Strip giants including MGM Mirage say the deep-discount days are over. But the Las Vegas Sun has a long story today questioning the wisdom of boosting room rates. From the Sun: MGM Mirage executives said demand for the company’s hotel rooms is high enough to warrant an increase in room rates, which have plummeted during the downturn.