LVCVA execs receive raises, bonuses for tourism rebound
The Las Vegas Convention and Visitors Authority shared on Wednesday that additional executives received a pay bump for the fiscal year, ending June 30.
Four top executives from its management team received a total of $287,469 in bonuses and $55,475 in annual salary increases.
The extra pay is in addition to the higher compensation approved last month by the LVCVA board of directors for President and CEO Steve Hill and General Counsel Caroline Bateman.
Hill received a 10 percent raise and a 50 percent bonus for his accomplishments as the leader of the city’s tourism marketing organization, particularly during the COVID-19 pandemic. The raise and bonus were based on Hill’s previous salary of $406,916 per year. His annual salary would now be $447,608 with a one-time bonus of $203,458.
Hill recommended Bateman receive a 7 percent salary increase to $219,572 per year with a 25 percent bonus of $51,302, which the board approved.
In the weeks following those salary approvals, Hill evaluated the rest of the organization’s C-suite and approved the following increases:
■ Chief Marketing Officer Kate Wik, a 5 percent salary increase to $341,470 per year and a one-time 35.2 percent bonus of $121,594.
■ Chief Financial Officer Ed Finger, a 6 percent salary increase to $257,797 per year and a one-time 25 percent bonus of $60,801.
■ Chief Operating Officer Brian Yost, a 7 percent salary increase to $251,510 per year and a one-time 25 percent bonus of $58,764.
■ Senior Vice President of Communications Lori Nelson-Kraft, a 4 percent salary increase to $212,393 per year and a one-time 22.5 percent bonus of $45,950.
An LVCVA compensation committee recommended salary ranges of $259,000 to $363,000 and a bonus between 0 percent and 37.5 percent for the chief marketing officer and chief sales officer; salary ranges of $187,000 to $262,000 and a bonus between 0 percent and 25 percent for the chief financial officer and chief operating officer; and salary ranges of $159,000 to $223,000 and a bonus up to 25 percent for the senior vice president of communications.
The LVCVA’s front-line workers, 240 union employees, received a 4 percent pay increase and a lump-sum bonus of $2,250 per worker on July 1.
A contract modification with the Service Employees International Union Local 1107 approved in June is costing $19.3 million including additional retirement and Medicare benefits expenses.
The LVCVA is one of the rare destination marketing organizations in the country that not only promotes the city but also manages a convention center.
The executive team was praised by the board for its innovative marketing programs, securing Super Bowl LVIII in February 2024, creating a Formula One Vegas Grand Prix race in November 2023, creating a path for a destination-wide innovative transportation system and adding almost 1 million square feet of meeting space with the West Hall expansion.
Board members said last month that the raise and bonus for Hill were based on his efforts to guide the tourism rebound for Southern Nevada. The visitation rebound helped generate record room tax revenue in 2021-22 with $294 million deposited into the LVCVA’s general fund, beating the previous high of $286 million in 2019.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.