CHART DU JOUR: PRICELINE AND LV

08/14/12 02:10PM EDT

Priceline bookings closely correlate to Strip room rates 

  • Correlation between YoY change in Priceline's booked ADR and Strip ADR was 88% over the past 2 1/2 years
  • Despite Priceline's warning about Q3 bookings and ADR, MGM management cited a recent improvement in consumer trends
  • We remain skeptical of a Las Vegas Strip comeback this year and the long-term demographic picture may impede a return to peak metrics

CHART DU JOUR: PRICELINE AND LV - PCLN

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