Committee recommends 10% raise, 50% bonus for LVCVA CEO

The Las Vegas Convention and Visitors Authority board of directors on Tuesday will consider a 10 percent raise and a 50 percent bonus for President and CEO Steve Hill for his accomplishments as the leader of the city’s tourism marketing organization.

The raise and bonus are based on Hill’s existing salary of $406,916 a year, meaning his pay would increase $40,692 to $447,608 a year with a one-time bonus of $203,458.

The recommendations came Monday during a meeting of the convention authority’s five-member compensation committee.

The committee also recommended a 7 percent pay increase and a 20 percent bonus for legal counsel Caroline Bateman. If approved by the full LVCVA board, her annual salary would increase to $219,752 with a one-time bonus of $42,041.

The recommendations were based on the executives’ performances in the past year. Hill spent 35 minutes reviewing some of the LVCVA’s accomplishments and presenting five goals he and his team hope to complete in the next five years.

Among the accomplishments Hill listed for the 2022 fiscal year were that:

■ Las Vegas didn’t just recover, it thrived

■ LVCVA’s marketing program drove demand

■ The LVCVA led the nation in meeting and trade show recovery

■ Las Vegas branded itself as “the Greatest Arena on Earth”

■ The LVCVA helped improve access to and around the destination

■ The LVCVA created the financial capacity to resume the Las Vegas Convention Center renovation

Buoyed by record-setting numbers

Hill explained that the proof of Las Vegas thriving was in Clark County’s gaming win, which is on the verge of surpassing $12 billion for the first time in history.

The destination also set a record for revenue per available room in April of $148.65, far above the Fiscal Year 2019 benchmark of $120.

Hill also noted that the convention authority is projected to hit a record in its collection of room taxes, used for the LVCVA general fund, of $294 million, besting the 2019 total of $286 million.

In leading the nation in meeting and convention recovery, the Las Vegas Convention Center hosted 87 trade shows and events — more than any other convention destination — had 1.2 million attendees and booked 18 new shows and events representing 5.6 million gross square feet and 178,000 attendees.

The LVCVA helped reach 178 percent of its goal by generating 1.4 million room nights from originated leads and generated 725,000 room nights from assisted leads, or 121 percent of its goal.

Hill said the guest experience was enhanced for conventioneers with improved Wi-Fi that had faster speeds and extended session times. Visitors rated the guest experience at 4.8 out of 5, and food and beverage scores improved 17 percent from 3.6 to 4.3 out of 5 from 2019 to 2022.

In addition, the convention authority reduced outdoor water usage by 105,000 gallons — 38 percent — by converting landscaping and installing low-flow water fixtures, converted 24,000 gallons of grease to biofuel and diverted 69 percent of 1,500 tons of waste from landfills.

Sports factor

The “Greatest Arena on Earth” tag was punctuated by the announcement that Formula One racing would return to Las Vegas in 2023 and the city will host the Super Bowl in 2024.

A variety of sports events drove 850,000 visitors to Las Vegas, Hill said.

Access to and within Las Vegas was driven by the completion of the Convention Center Loop, Elon Musk’s underground transit system that served 400,000 conventioneers who reported a satisfaction rating of 4.9 out of 5, and the first Vegas Loop connection, to Resorts World, began what is expected to be an underground transit network in the resort corridor.

In addition, the Las Vegas Monorail, acquired by the LVCVA, produced more than $2 million in net income from 4 million passengers after leaders expected the system to lose $3 million a year.

Partnering with Harry Reid International Airport, the LVCVA helped add 13 more domestic airline markets than it had in 2019 to 128 markets. Airline capacity grew to 108 percent of 2019’s seat capacity, and there was an 89 percent recovery of international seats compared with 2019.

The LVCVA also launched plans to make its North and Central exhibition halls at the Las Vegas Convention Center upgraded to standards set with the new West Hall.

‘Extraordinary year’

Committee members praised Hill’s efforts.

“This would have been an extraordinary year for the LVCVA under the best of circumstances,” said committee member Michael Naft, a Clark County commissioner. “It was an extraordinary year under the most challenging of times, so I offer that credit and praise and know that with you at the helm, a whole lot of people on your team that made it happen, I appreciate you.”

Committee member Mary Beth Sewald, president and CEO of the Vegas Chamber, said marketing Las Vegas isn’t as easy as it looks.

“I know you like to joke that you have the easiest job in the world (marketing Las Vegas) but in some ways, it’s the hardest job in the world because how do you raise the bar on Las Vegas?” she said.

“Most of the things you and the team have done we couldn’t have imagined. … I’ve never been so proud to live and work in a destination that is my home.”

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.