pacomartin
pacomartin
Joined: Jan 14, 2010
  • Threads: 649
  • Posts: 7895
August 25th, 2011 at 8:49:02 AM permalink
The opening of new hotel rooms is not completely dead in Las Vegas. There are a handful of projects.

2011 (rooms)
995 The Cosmopolitan of Las Vegas (phase 2) 3708 Las Vegas Blvd S September 1, 2011
662 Caesars Palace (opening of new Octavius tower rooms) 3570 Las Vegas Blvd S December 2011
300 (Time Share rooms) The Grandview at Las Vegas tower 6 9940 Las Vegas Blvd S December 2011

2012: (rooms)
96 SpringHill Suites Marriott (North) 2910 E. Craig July 2012
134 Residence Inn Marriott (Southwest) Sunset & 215 July 2012
100 Residence Inn Marriott (Henderson) St Rose Pkwy & Maryland Pkwy October 2012
160 SpringHill Suites Marriott (South) Mesa Verde & Robindale November 2012
150 Embassy Suites SE corner of Sunset Rd. & Grier Dr. Mid 2012

Kerkorian sells 20 million shares of MGM Resorts might be a harbringer of change to come. It is possible that now that Vegas is settling, property does not have to be sold at extreme fire sale prices. There may be some new players that come into the market.
7outlineaway
7outlineaway
Joined: Nov 13, 2009
  • Threads: 9
  • Posts: 282
August 25th, 2011 at 9:00:32 AM permalink
Quote: pacomartin

It does seem like if they had stopped everything after April 2005... that Vegas would be OK.



Well, that's not just Vegas, that's everywhere in the country that had a housing bubble.

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