Start Date
6-1-2011 2:30 PM
End Date
6-1-2011 3:45 PM
Track
1. Track 1 – Formal Paper Presentation
Subject Area
Finance and Economics
Faculty Member
Zheng Gu zheng.gu@unlv.edu
Abstract
The meetings, incentive travel, conventions and exhibitions (MICE) industry is a comparatively young industry and there has been limited research conducted in this field, especially from the financial performance and capacity management perspective. The purpose of this study is to fill the gap by analyzing the financial performance of the Las Vegas MICE industry and identifying its optimal capacity in the years to come. The findings and results of this study should help researchers and practitioners determine the current status of the Las Vegas MICE industry in terms of operational efficiency and profitability. The findings will also reveal whether the MICE development in Las Vegas is heading for over- or under-capacity and, if so, provide a gauge for the magnitude of over- or under-capacity. Academically, this study should make a good contribution to capacity optimization literature by applying the theoretical model to the MICE industry.
Keywords
the MICE industry, capacity optimization, single-period inventory model, cost of over-capacity, cost of under-capacity
Determining the Optimal Capacity for the MICE Industry in Las Vegas
The meetings, incentive travel, conventions and exhibitions (MICE) industry is a comparatively young industry and there has been limited research conducted in this field, especially from the financial performance and capacity management perspective. The purpose of this study is to fill the gap by analyzing the financial performance of the Las Vegas MICE industry and identifying its optimal capacity in the years to come. The findings and results of this study should help researchers and practitioners determine the current status of the Las Vegas MICE industry in terms of operational efficiency and profitability. The findings will also reveal whether the MICE development in Las Vegas is heading for over- or under-capacity and, if so, provide a gauge for the magnitude of over- or under-capacity. Academically, this study should make a good contribution to capacity optimization literature by applying the theoretical model to the MICE industry.