The fact that room comps at Wynn and other high level strip properties
have gotten so very hard to come by shouldn't suprise anyone. It's
just a matter of supply versus demand, there is way too much demand.
Too many people are willing to pay top dollar right now to stay on the
strip. The source of all of this extra demand is quite intersting.
Alot of it is coming from India and China. Since both countries
adopted Capitalism their economies have grown enormously. Both
countries are a huge source of tourists for the Strip wheras just a few
years ago both countries provided very few tourists to the strip. The
high end properties can let their rooms at very high rates and the
people staying in them will still end up gambling quite a lot. Even
the strip adjacent and near stip properties have seen inflation in
their room rates and occupancy rates due to the higher demand.
Room Comps on the Strip
Also keep in mind till some new hotels are put up the strip / downtown
has lost 1000's of rooms in the last 18 months.
Stardust--Gone
Boardwalk--Gone
WestwardHo--Gone
Small place off the strip near Harrahs (Forgot the name but it was 250
rooms) -- Gone
LadyLuck (downtown) - Closed for foreseeable future.
Frontier-- Gone by end of summer last I heard
You have had RedRock and Southpoint that went up but most people will
count those as "not the strip" and "not downtown" so are not staying
there.
Just my .02c
-Dave
···
--- In vpFREE@yahoogroups.com, "markhaslem" <markhaslem@...> wrote:
The fact that room comps at Wynn and other high level strip properties
have gotten so very hard to come by shouldn't suprise anyone. It's
just a matter of supply versus demand, there is way too much demand.
Too many people are willing to pay top dollar right now to stay on the
strip. The source of all of this extra demand is quite intersting.
Alot of it is coming from India and China. Since both countries
adopted Capitalism their economies have grown enormously. Both
countries are a huge source of tourists for the Strip wheras just a few
years ago both countries provided very few tourists to the strip. The
high end properties can let their rooms at very high rates and the
people staying in them will still end up gambling quite a lot. Even
the strip adjacent and near stip properties have seen inflation in
their room rates and occupancy rates due to the higher demand.
That is a very good point, I hadn't even thought about all of the
decrease in supply. Palazzio and Encore will be opening soon that
should help. Sorry everyone about the previous empty posting I was
backspacing my previous entry away to do the above reply and then it
just said your comments have been posted, weird.
Also keep in mind till some new hotels are put up the strip /
downtown
has lost 1000's of rooms in the last 18 months.
Stardust--Gone
Boardwalk--Gone
WestwardHo--Gone
Small place off the strip near Harrahs (Forgot the name but it was
250
rooms) -- Gone
LadyLuck (downtown) - Closed for foreseeable future.
Frontier-- Gone by end of summer last I heard
You have had RedRock and Southpoint that went up but most people
will
count those as "not the strip" and "not downtown" so are not staying
there.Just my .02c
-Dave
>
> The fact that room comps at Wynn and other high level strip
properties
> have gotten so very hard to come by shouldn't suprise anyone.
It's
> just a matter of supply versus demand, there is way too much
demand.
> Too many people are willing to pay top dollar right now to stay
on the
> strip. The source of all of this extra demand is quite
intersting.
> Alot of it is coming from India and China. Since both countries
> adopted Capitalism their economies have grown enormously. Both
> countries are a huge source of tourists for the Strip wheras just
a few
> years ago both countries provided very few tourists to the
strip. The
> high end properties can let their rooms at very high rates and
the
> people staying in them will still end up gambling quite a lot.
Even
> the strip adjacent and near stip properties have seen inflation
in
···
--- In vpFREE@yahoogroups.com, "mrdave2006" <dave.feuer@...> wrote:
--- In vpFREE@yahoogroups.com, "markhaslem" <markhaslem@> wrote:
> their room rates and occupancy rates due to the higher demand.
>
You can go to that posting and at the bottom delete it.
···
--- In vpFREE@yahoogroups.com, "markhaslem" <markhaslem@...> wrote:
That is a very good point, I hadn't even thought about all of the
decrease in supply. Palazzio and Encore will be opening soon that
should help. Sorry everyone about the previous empty posting I was
backspacing my previous entry away to do the above reply and then it
just said your comments have been posted, weird.
Frontier? My favorite place in early 90s.
I believe Frontier has been gone for quite a few years.
However the owner of the property stand to make a handsome profit from
the property. And all these years I thought he managed the property
like a jerk. We should all hope to be that dumb.
Cheers...Jepp
.
···
.--- In vpFREE@yahoogroups.com, "mrdave2006" <dave.feuer@...> wrote:
Frontier-- Gone by end of summer last I heard
Just my .02c
-Dave
Nope,
http://www.lvrj.com/news/7530232.html
<http://www.lvrj.com/news/7530232.html>
-Dave
[Non-text portions of this message have been removed]
···
--- In vpFREE@yahoogroups.com, "whitejeeps" <whitejeeps@...> wrote:
Frontier? My favorite place in early 90s.
I believe Frontier has been gone for quite a few years.