Las Vegas Convention Authority Committee Proposes Salary Increases for Executives

Las Vegas Convention Authority Committee Proposes Salary Increases for Top Executives

The Las Vegas Convention and Visitors Authority (LVCVA) Compensation Committee has recommended a 9% salary increase and a 50% bonus for CEO Steve Hill, leading to a proposed annual salary of $539,550 starting in July. Alongside Hill, the committee also proposed a 20% bonus of $50,000 and a 6% salary increase for General Counsel Caroline Bateman, raising her annual earnings to $265,000.

These compensation recommendations will be presented to the full LVCVA Board of Directors for approval during its meeting on July 8. The six-member compensation committee conducted an evaluation of Hill’s performance over the past year while also considering his assessment of Bateman’s contributions to the organization.

Performance Highlights

Steve Hill’s performance was evaluated positively, with several key accomplishments cited in support of the recommended salary and bonus increases. His efforts included global marketing initiatives that positioned Las Vegas as the premier sports capital. Hill successfully managed a $600 million renovation project, delivering it on time and on budget, while also enhancing transportation access within the area through projects like the Las Vegas Monorail and the upcoming Elon Musk’s underground Vegas Loop.

In expressing gratitude for the committee’s support, Hill acknowledged the contributions of his executive team following the unanimous vote for his compensation adjustments. The committee’s decision to raise the maximum allowable bonus limit from 40% to 50% prior to their evaluations highlights their confidence in Hill’s leadership and management abilities.

Committee Insights and Unique Structure

Mary Beth Sewald, a member of the compensation committee, voiced her confidence in granting Hill the generous bonus and salary increase, citing the CEO’s integrity in overseeing the organization. The LVCVA operates uniquely, functioning as both a destination marketing organization and a convention center manager, a distinction not commonly found in similar organizations throughout other cities.

Leadership in Sports Development

In addition to his role at LVCVA, Hill chairs the Las Vegas Stadium Authority, which manages sports affairs in the city. Recently, he participated in the groundbreaking of a $1.75 billion baseball stadium for the Athletics, further solidifying Las Vegas’s commitment to enhancing its status as a sports capital.

Ongoing Changes and Challenges

The LVCVA is currently undergoing extensive changes and evaluations regarding the management and compensation of its key executives, particularly as it adapts to evolving tourism and convention demands in Las Vegas. The recommendations for executive salary increases illustrate a forward-looking approach to leadership and organizational growth.