|
There is no question that lately the theme at any Vegas hotel is simply world-class amenities. Luxury hotels are taking the place of older themed hotels. Although change is good and old run-down hotels all need an upgrade once in a while, the question is: Is Vegas changing too much? What originally made the town unique was its originality. In no place else in the world can you get a taste of New York, Venice, Paris, Egypt, and Greece all in one place. What would Vegas be without a Volcano on the strip or an Eiffel Tower replica? Is it possible to have luxury and theme at the same time? There is no question that Vegas is changing, but is it changing for the better? The problem with luxury hotels is that they are everywhere. In almost any major city in the world you can find a beautifully designed high-rise with a beautiful spa, gym, and all the amenities. In 2005 the standard for luxury was set in Las Vegas when Steve Wynn opened the Wynn at the far north end of the strip. The hotel cost an unprecedented $5 billion to build. It seems that Wynn got his money’s worth, because you can find absolutely anything in the world you could possibly want at a hotel at the Wynn Las Vegas. The only thing you will not find at the Wynn is a theme. While hotel-hopping in Las Vegas, it almost becomes second nature to think—Ok, what’s the theme here? And when there isn’t one, lately, tourists seem to be pleasantly surprised. Everywhere you look in Las Vegas things seem to be turning high-class. A town that used to be famous for its .99 cent buffets and penny slots is now famous for its spas and French cuisine. Restaurants like Le Cirque, Picasso, Guy Savoy, Joel Robuchon, and Bradley Ogden are much more popular than the discount buffets. Tourists used to come to Vegas with the intentions of saving money anywhere they could in order to have more money to gamble with. Now people are coming to Vegas to let loose and splurge on luxury items that they wouldn’t normally indulge in. An average working class guy can come here, buy a fancy suit at the Forum Shops, rent a luxury sports car for the night, and tell everyone that he’s a millionaire and no one will know the difference. The newest luxury condos and hotels in Las Vegas will be opening right on the strip in 2009. The MGM City Center will consist of four separate towers both housing condos as well as boutique hotel suites. The $7.8 billion dollar construction budget makes the City Center the most expensive privately funded construction project in U.S. history. Located in between the Monte Carlo and the Bellagio, City Center will include shopping, dining, entertainment and pretty much anything else you would find in a small city. One of the central streets that will connect the four towers of City Center will have the exact same proportions of Park Avenue. The condos and guest rooms in all of the towers will be modern and filled with over-the-top luxury amenities. Projects like City Center are popping up all over Vegas. The brand new Palms Place, which opened on February 29th, is located right next to the Palms Casino Resort. Condos in the building range in price from $500,000 to $7 million. The trend of luxury seems to be taking over and classic hotels like the Frontier and the Stardust are being torn down to make room for bigger and more luxurious casinos. Although more luxury on the strip may seem better, investors must keep in mind the reasons why Vegas became such a popular destination to begin with. People came to see the pyramids of Egypt, the Eiffel tower, pirate ships, Venetian canals, and dancing fountains. When it comes to Las Vegas, tourists have different standards for what is considered cheesy and what’s considered classy. Most likely, the best recipe for success in Sin City includes a little bit of both.
|
