Posted Aug 16, 2008, 5:15 PM
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Registered User
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Join Date: Jan 2007
Posts: 323
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The delay or cancellation of these multi-billion dollar projects will be good for Vegas. Hotel operators are currently having to discount rooms by as much as 40 percent to keep a 90 percent occupancy rate.
With no end to the current economic downturn in sight, a handful of new properties will better support visitors the next few years as various markets bounce back.
CityCenter, Encore, Palazzo, Fontainebleau, and maybe Cosmopolitan will get to reap the benefits of being the latest properties in town for at least the next 3-5 years.
By the time The Plaza, Echelon, the Wynn redevelopment, and the MGM Kerzner project open, the demand for additional rooms will likely to be large enough to support another wave of new properties.
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