Rossi Ralenkotter
Sun Archives
The Las Vegas Convention and Visitors Authority is ready to call the Great Recession history and initiate a multiyear, multilayered plan to spur growth in the city’s $36 billion tourism economy.
LVCVA President and CEO Rossi Ralenkotter said today he would present details of his destination innovation and leadership plan to the organization’s board of directors Thursday afternoon. The three-year rebound plan will include new advertising strategies and marketing initiatives, extending leases with the city’s core convention customers and reintroducing a proposal to expand and renovate Las Vegas Convention Center.
Ralenkotter expects to introduce an overview of the plan Thursday and provide further details at the authority’s January meeting.
“As part of our 11-point plan when the recession started, we also needed to identify at what point in time do we start seeing a recovery and start seeing a return to us doing more longer-range planning,” Ralenkotter said in an editorial board meeting with the Las Vegas Sun.
Las Vegas was riding an economic boom in 2007, with visitation peaking. When the recession hit, the city was broadsided on multiple fronts — a real estate crash that led to record foreclosure rates, higher unemployment and a drop in visitation, occupancy rates and average daily room rates.
The tourism economy hit bottom in 2009. But in the past 18 months, visitation and room rates have steadily climbed, giving Ralenkotter the confidence he needs to present his plan. He said most indicators have reached levels last seen in late 2005 and early 2006, with the industry currently employing about 350,000 people.
Ralenkotter said in past recessions and economic declines, the tourism and gaming industries have helped lead the city out of the bad times. This initiative, he said, would be similar. Passenger traffic at McCarran International Airport and convention attendance also have improved, he said.
The LVCVA’s marketing efforts will continue to focus on international travelers, who stay longer and spend more. Ralenkotter hopes 30 percent of the city’s visitors will be from foreign countries within 10 years. Today, 18 percent of visitors are international travelers.
The agency also plans to capitalize on its status as the top trade show destination in the country. It hopes to solidify lease agreements with the International Consumer Electronics Show, the Specialty Equipment Market Association and the International Council of Shopping Centers shows and other major conferences.
That also means the reintroduction of a major makeover to the Convention Center, a project that was put on hold in 2009. The LVCVA planned an $890 million renovation that primarily would improve access and circulation within the complex. Ralenkotter said the upgrade was still planned in a phased program that would last five to eight years and could begin as early as the first quarter of 2013.
Ralenkotter said the plan could be slightly modified to incorporate the use of more historic neon signs on the center’s campus.
Ralenkotter also plans to propose expanding the city’s special events calendar to include longer celebrations of holiday observances, such as the recent “Halloweek” gatherings around Halloween and the “America’s Party” promotion for New Year’s Eve. He said festivities connected to St. Patrick’s Day, Cinco de Mayo and other special occasions could expand in the future.
The LVCVA board normally meets the morning of the second Tuesday of the month, but travel itineraries pushed the session to 2 p.m. Thursday.