Know the Hotel Occupancy Rates if You Plan to Rent it Out
If you're interested in investing in the Strip high rises, many of them have been designed for the owners to rent them out on a nightly, weekly, or longer-term basis. Nearby casinos may also by using them for "over flow" when their hotels have reached maximum room capacity.
Las Vegas real estate is moving toward the skyline. For information on hi-rise developments, call (702) 277-1427 7 days a week. The following is a list of some of the developments that have entered the Las Vegas high rise market. Click HERE for news and articles about high rises.
Golden Nugget May Add Third Tower New Nugget owner Landry's Restaurants has plans to add a third tower to its downtown Las Vegas hotel and casino. A 1,200 seat theater may also be part of the reconfiguration. Stutz, Howard. "Tower in Plans of New Golden Nugget Owners" Las Vegas Review Journal 9 September 2005: D1+.
2004 and 2005 Strip Rates about the Same Record hotel room rates set in 2004 are slowing the rate of room rate growth in 2005. That is not to say, however, that room rates are not growing- they are. "... the average three-week advance room rate for the Strip remained unchanged from 2004 at $206, compared with an increase of more than 22 percent in the same week a year earlier." Smith, Rod. "Room Rates for LV Hotels Remain Constant." Las Vegas Review Journal 9 September 2005: D1+.
Analysts Predict Condos Will Provide Lift for Casino Visitation- Some critics contend that luxury condominiums being built throughout the Las Vegas Valley should help drive additional traffic to casinos, not slow it down, as other critics believe. Perhaps owners of these condos will visit more often than if they had to pay to stay in a hotel. Even with new hotel rooms and condo units driving up the number of Strip rooms to between 169,500 and 173,700 units- up from the existing 131,000 rooms, revenues shouldn't sag because people will still be eating at the restaurants and enjoying the gaming and entertainment. Velotta, Richard N. "Analysts Predict Condos Will Provide Lift for Casino Visitation." In Business Las Vegas 15 April 2005: 3+.
New Strip Projects Stretch Manpower The Travel Industry Association of America, a Washington D.C.-based trade group, is forecasting $624 billion in U.S. travel-related spending next year, a 5.3 percent increase over 2004. Construction in Southern Nevada employed 92,800 people in September (the most recent figure available), a 10.2 percent increase over last year, reports the state Department of Employment, Training and Rehabilitation (DETR). The industry is expected to create 123,919 jobs by 2010, making construction one of Southern Nevada's fastest growing employers behind gaming, hospitality, and service positions. 11/29/2004
October Becomes Second Busiest Month in McCarran History Through October, the airport's 34.7 million passengers was about 2.13 million off the 12-month record; only one month this year has failed to exceed 3 million passengers. 11/30/2004
Las Vegas Tourism Count Tops 3 Million in September Barring a major interruption, a new visitor record will likely be set sometime in mid-December. Hotel and motel guests paid an average daily rate of $90.48 in September, up 12.2 percent from last year's $80.66 monthly average. The citywide average through the year's first nine months reached $89.19, an 8.5 percent improvement from 2003. 11/16/2004
Titan of Tourism Las Vegas busier than ever so far in 2004 -- and it's doing better than other popular travel destinations 7/4/2004
MGM Mirage Marvelous in Quarter Net income jumped 135.1 percent to $91.7 million for the three months ended Dec. 31, from $39 million a year earlier. 1/29/2004
August 2004 Economic Indicators Investing takes confidence and assurance. Knowing the facts about the market you want to invest in can help you make the best choice. These economic indicators are a good resource to use to gauge the market.
If you're interested in investing in the Strip high rises, many of them have been designed for the owners to rent them out on a nightly, weekly, or longer-term basis. Nearby casinos may also by using them for "over flow" when their hotels have reached maximum room capacity. 
New Strip Projects Stretch Manpower The Travel Industry Association of America, a Washington D.C.-based trade group, is forecasting $624 billion in U.S. travel-related spending next year, a 5.3 percent increase over 2004. Construction in Southern Nevada employed 92,800 people in September (the most recent figure available), a 10.2 percent increase over last year, reports the state Department of Employment, Training and Rehabilitation (DETR). The industry is expected to create 123,919 jobs by 2010, making construction one of Southern Nevada's fastest growing employers behind gaming, hospitality, and service positions. 11/29/2004 
11/16/2004
