Condo Hotels in Las Vegas

With the opening of the amazing Las Vegas City Center looming, condo-hotel units are back in the news. Las Vegas has 7 properties zoned as condo-hotels which include: Palms Place, Trump, Platinum, MGM Signature, Vdara (still under construction), two in Lake Las Vegas including Luna Di Lusso and Viera, and the infamous Flamingo Palms also known as Desert Tides and the Cay Club.

A condo hotel offers units that come totally turnkey, meaning they are completely furnished, have fully equipped kitchens, all linens and towels are included, offer services and amenities like a hotel, yet you own it like a regular condo. However, you can also rent this unit out on a nightly basis, either utilizing the rental program offered by the property or do it yourself. Of course, if you intend to put your unit in the rental program, you are not allowed to personalize the unit in any way. That means you can’t hang a picture, add a pillow, or change the towels. This is because all rental units are operated like a hotel and to preserve the integrity of similarity so each rental guest receives the same experience, the units must always look identical. It also makes it much easier to clean, change the bedding, maintain the kitchen, etc.

This type of property is definitely not for everyone. If you only visit Las Vegas periodically (often enough to be annoyed at paying for a hotel room) but want to maintain that 4-star/5-star experience with access to all the great things that makes visiting Las Vegas what it should be, this could be a great answer for you. You don’t have to clean it when you leave, worry about it when you’re gone, and find the condo exactly as you’d expect it to when you arrive the next time. And, you may be able to offset some of the costs of ownership by allowing your unit to be in the rental program when you’re not using it. The downside is the HOA monthly fees can be pricey. It’s expensive to maintain your share of a 4/5 star resort.

Remember, your HOA fees cover all the utilities, upkeep and repairs of all those amazing amenities like pool, spa, security, fitness center, high speed internet access computers, as well as the staff to keep the place in tip top shape like the valets, front desk personnel, housekeeping, engineering, pool service, concierge services and more. Also, one thing that got a lot of these properties in trouble with the buyers was the promise of lots of income.
Remember, this is the hospitality industry which is subject to things like the economy which affects how often people travel and what they spend on lodging, the weather (when its hot in Vegas, tourism drops), events in town (if there no great concert, show or convention in town, will they come?), and all the choices people have when they come to stay here. So don’t buy a condo-hotel unit because you envision the rental paying all your costs. Its a complicated process for each property that tries its best to ensure the units in the rental program are rotated and rented equally. Things come into play like how often your size unit is requested (studios, one bedrooms or two), the view if any, the floor its located on (some people want the highest while others want a low floor), and plain old customer request (but I always stay in tower one on the 12th floor facing east).

I’m not necessary defending their process, but having worked in the hotel industry, I do understand how you do your best to accommodate a guest request. Right now you have some great choices regarding these types of properties and prices are unbelievably low.

To read and learn more about Las Vegas condos and real estate topics please visit us at our Daily Updated Real Estate Blog  

Las Vegas Condo Hotels is a post from: The Vegas Bubble News

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From flashy advertisements paid for by travel agents to commercials created by travel websites, there is no shortage of Las Vegas vacation specials. But why do these specials exist in the first place? They exist for three main reasons: to help counteract the distances that many visitors have to travel to reach Las Vegas, to create incentives to experience the city, and to attract celebrities that in turn attract regular tourists.

Millions of tourists crowd Las Vegas casinos and hotels every year, pouring millions of dollars into the local economy. However, very few of these visitors pay full price for their rooms, meals, or entertainment. The truth is that if everyone had to pay full price for these amenities, then the total number of visitors would be much less thus affecting the overall economy.  This is because, for so many visitors, a trip to Las Vegas is an expensive and time consuming process. Located in the middle of a desert, the climate is hot and dry and unforgiving. Because of the location and climate, a relative few people call Las Vegas home. It is therefore necessary for most tourists to travel there. This travel is often very expensive. To help encourage tourism and counteract the expenses associated with travel, Las Vegas hotels and casinos offer inclusive vacation specials.  These inclusive deals can combine the cost of a room, a meal, and entertainment into one reduced price.

Once the tourists have been lured to the town, they still may need some incentive to leave the action of the casinos. While the casinos draw people to town, the local economy would crumble if people did not also spend money in restaurants, on shows, and at retail stores. Thus, most Las Vegas vacation specials include discounts to retail chains or buy one get one free offers to performances or shows.  It is important to remember that if one aspect of the economy falters, then the tourist base would be significantly impacted.  Therefore, if the high end restaurants that line hotel lobbies cannot find customers, then fewer people will ultimate spend money in the casinos. Therefore, hotels offer specials to ensure that people not only visit Las Vegas, but also attend and spend money at the other attractions.

These specials are not only offered to the typical visitor, but also the visitor with celebrity status. Part of the mystic of Las Vegas is number of celebrities that visit the city on a regular basis. From the next big NBA star to the led actor in that blockbuster movie, these high end tourists spend huge amounts of money in casinos, restaurants, and clubs. However, each hotel wants to boast the fact that these celebrities stay in their hotel.  Thus, certain specials are offered to them. These include complete complimentary high end rooms, meals, and drinks.  These kind of accommodations help draw the interest of hundreds if not thousands of tourists.  These tourists all spend money and increase the relative economy of the establishment.  Thus, regaining the money lost form the specials offered.

Las Vegas hotels offer deals to help increase clients. By increasing clients they can increase revenues, thus recouping any losses associated with the deals. These specials draw people to shows, clubs, and restaurants, and ultimately increase the amount of tourists drawn to Las Vegas.

Why Hotels Offer Las Vegas Vacation Specials is a post from: The Vegas Bubble News

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Las Vegas is all about illusion and transformation. While on the strip, and you’re walking past palm trees or through a lush tropical gardens, keep in mind that this is the result of some exceptionally creative landscaping. It wasn’t that long ago that this area was nothing but sand and cactus. The stark, barren desert provided the blank canvas for everyone from the first Spanish explorers, to Howard Hughes whose vision helped make Vegas what it is today.

Over the years, Las Vegas has seen a lot of change and most of these changes have been substantial. From the 22,500 acre Summerlin master planned community, to the mega-hotels on the Strip. When a Vegas developer begins a project, it often stakes a benchmark for future development, and each one is bigger and better than the next. This is particularly dramatic when new hotels are being constructed. Existing renovations are rare, and in most cases, the old must come down to replace the new.

The most common method of demolition is by implosion. Combine a few hundred pounds of dynamite, a small stage show and a few seconds later, no more hotel.

Here are some of the famous implosions featured on the Las Vegas strip over the years:

Oct. 27, 1993 – Dunes Hotel: Complete with an imposing 35 foot fibreglass sultan on its roof, the Dunes goes back to May 23, 1955. This desert-theme hotel was host to big name entertainers the likes of Frank Sinatra, and was the first club to offer the topless revue, Minsky’s Follies. After being purchased by a Japanese millionaire in 1987 for 5 million, Steve Wynn snagged it for a cool million in 1993 and after imploding, used the property to develop what is known today as “Bellagio.”

Nov. 26, 1996 – Sands: Open on December 15, 1952, this was the site of the original Oceans 11 movie starring the rat pack. The Sands had many owners, but during the reign of Howard Hughes, the famous 500-room circular tower was added. The impressive Venetian Hotel has now replaced the Sands.

Dec. 31, 1996 – Hacienda: In spite of its proximity to the McCarran International Airport, the Hacienda had rough start and could never really compete with the larger resorts. It began as a modest 240 room hotel, and later expanded to 1,140 rooms, but remained closed for a couple years due to problems obtaining a gaming license. The Hacienda made a flashy exit on New Year’s Eve of 1997 and was replaced by the Mandalay Bay. Its famous neon horse and rider sign, lives on at the intersection of Fremont Street and Las Vegas Boulevard.

April 27, 1998 – Aladdin: Originating as the Tally-Ho, then the King’s Crown, the Aladdin was purchased and completely renovated for only million dollars by Milton Prell. Probably its biggest claim to fame was hosting the wedding of Elvis & Priscilla Presley. After owner Prell suffered a stroke in 1972, he sold the hotel for million. The new owners revamped the Aladdin, to the tune of million, with the addition of a 19-story tower. After being imploded in 1998, a new and improved .4 billion Aladdin re-opened, but it too changed hands and is currently known as Planet Hollywood.

Las Vegas Hotels – Then and Now is a post from: The Vegas Bubble News

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