Recession? What recession? Apparently, Las Vegas is being true to its persona- betting heavily that 1,575 new hotel rooms are just what the doctor ordered- if not now, maybe in the future?
A mere two weeks after the debut of the Aria at the $8.5 billion new CityCenter, two more casino properties have entered the Las Vegas lodging fray in a market already straining to fill the rooms it already has, witnessed by an average mid-80 percent fill rate and drastically declining room rates.
The 52-story PH Towers at Planet Hollywood Resort have just added 1,201 rooms yesterday. The rooms are being marketed at $229 midweek and $349 weekends. And the top four floors will be 16 condominiums for sale, ranging from 6,000 square feet to 18,000 square feet.
Not to be outdone, the Hard Rock Hotel also yesterday added their HRH tower, bringing 374 more rooms that include seven penthouse suites and eight spa villas. Opening with their tower is the 25,000-square-foot Reliquary Spa, a new parking garage with a porte-cochere and 40,000 square feet of new casino space. Think it ends there? Hardly. A new Hard Rock nightclub, the 14,000-square-foot Vanity, waits opening on Dec. 31, which will also mark lights out for the venerable celebrity hangout, Body English.