Comments on: Undaunted: World’s largest hotel planned for Las Vegas

By: Rentals

Rentals — Wed, 16 Sep 2009 00:08:24 +0000

I think we have enough hotels in Vegas. They cant even keep what they have full why would you build bigger and at all? I dont think even in a good economy Vegas can support all those hotels…

By: Las Vegas Vacation Rentals

Las Vegas Vacation Rentals — Thu, 15 Jan 2009 18:57:05 +0000

Bigger isn’t always better i would rather be comfortable try a vacation home remember bigger means more money from your pocket.

By: Rooi_Skoene

Rooi_Skoene — Mon, 12 Jan 2009 09:17:47 +0000

AJG said it much better than I would’ve. What’s more, there will always be people who need to experience something bigger, better and more expensive than what their peers have experienced.

Those are the people who will keep this hotel afloat in 4 years’ time.

By: jean

jean — Sun, 11 Jan 2009 13:34:29 +0000

Compete for the world’s highest hotel, most luxurious hotel, and “World’s Largest Hotel”. Yet seldom hear competition of “world’s most comfortable hotel”. Too hard to set up judging criteria? Good luck with the world’s biggest hotel.

http://www.OurExplorer.com
local guides, local wisdom

By: AJG

AJG — Sat, 10 Jan 2009 18:29:05 +0000

OK. First of all, it certainly seems that Vegas has been more than able to “absorb” what has been termed the “coming glut” of excess hotel capacity for years now — and in the process has been named one of the fastest growing cities in the US for several years.

Gaming in America is an obsession. Couple that with the return of the “sin city” theme (as opposed to “family Vegas” which didn’t work) — and throw in a large dose of luxury and creature comforts — and you have a genuinely desirable and enjoyable destination. The profits in gambling alone more than underwrite the “ginormous” costs of building what are now multi-billion dollar behemoths — and with direct reference to “timelines” — just as it has taken years to plan and erect these edifices at enormous costs (much funded by bonds / construction loans) — similarly the timeline to recoup these investments is similarly measured in years.

I.e., simply put, these massive hotels are not designed to recoup costs or turn a profit for several years. However, in the interim, they are capturing what is in fact a piece of a growing pie. I.e., this is not a “zero sum” game given that the “pie” is not “static” but rather growing (with no end frankly in site). The appetite for gaming again is essentially insatiable — the allure of “sin city” continues to grow unabated — and the casino success rate is generally very high. In my opinion there is room for two kinds of hotels in Vegas — “boutique” hotels a la Palms — and giant monolithic structures which boggle the imagination. Those hotels at risk are the ones in between.

In summary, hotels need to fall in my opinion into one or the other category to be successful — and as long as banks continue to underwrite the huge costs of building massive hotels they will continue to be built (and securing prominent positions close to the most trafficked areas only adds to the value of the investment).