Isn’t it a perfect time to open up a 6,000 unit hotel…
We really hope those checks won’t bounce.
From Reuters (NV):
City Center’s impact on the Strip
CityCenter’s glittering high rises have forever altered the Las Vegas skyline, but there is concern about the project’s impact on already-discounted hotel room rates along the world’s most famous gambling corridor…
The nearly 6,000-room, $8.5 billion signature project for MGM Mirage opens in December with rates up and down the Strip slashed during a recession that has forced consumers and businesses to cut spending and hold out for bargains.
A night at one of CityCenter’s luxury towers can be had for as little as $129 in mid-December. The average daily room rate in Las Vegas had fallen 25 percent through August…
