Hotel Guests in Cosmopolitan Las Vegas Will Face Parking Fees Starting Next Month
Las Vegas' famous Cosmopolitan resort is joining the movement of removing free parking for guests. Starting next month, the luxury establishment will also demand payment for most overnight visitors' parking spots.
MGM Resorts acquired Cosmopolitan in 2022 for $1.625 billion from private equity giant Blackstone. At the time, MGM leaders vowed to maintain all operations, including lavish amenities the resort offered. However, the casino company seems to have changed its mind, implementing parking fees.
While the Cosmopolitan stopped offering free self-parking to non-hotel guests in 2021, the benefit persisted for hotel guests. However, this will no longer be the case after September 20.
The Cosmopolitan's website now states, "Registered hotel guests receive free self-parking for stays beginning before 9/20/23." It also notes that "Individuals with Diamond and above status in our Identity rewards program will continue to enjoy complimentary self-parking." MGM will roll out its new rewards program, MGM Rewards, on February 1, 2024, also granting free parking to those with Pearl status and above.
Prior to this change, self-parking was a common free feature on the Strip. However, this luxury is becoming scarce. The Venetian and Palazzo already announced they will remove free parking for their guests not in the Grazie Rewards' Premier tier in the coming weeks.
Rising Strip Costs
By next month, adjacent resorts with free self-parking will include only the Tropicana, Treasure Island, Casino Royale, Sahara, and Wynn/Encore. The elimination of free parking is an added expense that has made Las Vegas overnight stays more costly.
The end of complimentary parking coincides with the escalation of resort fees. These charges significantly increase the overall cost of a stay.
A two-night stay at Cosmopolitan in October costs $290 per night without resort fees and taxes. But when the property's $45 nightly resort fee and taxes are added, the total reaches $759.64, or $380 per night.
Should you choose to drive, you'll also have to pay the Cosmopolitan's $23 per day self-parking fee. This brings the total to $805.64.
Valet Fees Surging
Ten years ago, both valet and self-parking were usually free on the Strip. But things have changed since then.
At Cosmopolitan, valet parking costs $35 Monday through Thursday and $40 on weekends. Guests with Gold status or higher enjoy free valet parking. To achieve Gold status via the Identity loyalty program, one needs at least 20,000 tier points. Gambling, hotel, spa, dining, and shopping expenses all award Identity points, with casino play netting one point for every $2.50 and video poker yielding one point for every $6.
The eradication of complimentary valet services severely impacts travelers' expenses. After becoming a major tourist hub, Las Vegas is gradually transforming from an affordable destination to a luxury one.
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Source: www.casino.org
