Recession luxe in Vegas Seven

This week’s Green Felt Journal is out–I talk a bit about marketing luxury properties during a recession. From Vegas Seven, as usual:

The laws of supply and demand aren’t sentimental, particularly when it comes to hotel rooms. No matter what kind of rate a suite might have gotten in the past, when there are more beds than bodies to fill them, the room rate will go down. But when running a luxury property, there are concerns beyond just filling rooms tonight: Long-term position of the hotel’s “brand” can make price-cutting a double-edged sword.

via Selling luxury in the Great Recession | Vegas Seven.

It’s been a busy week around here, which explains the fewer blog posts. I wanted to talk a bit about Bill Zender’s bacc protection seminar, which was profiled in the LV Sun. Some positive news is that instead of just doing a blog post about the kids unattended in cars thing, I’m writing a Vegas Seven article about it. I’ve already talked to Jerry Markling with the Gaming Control Board and look forward to talking with a few other people.

I also am working on a few work projects that I might talk about here, time permitting.

1 thought on “Recession luxe in Vegas Seven

  1. After the Cosmopolitan opens in three months no new hotel-casinos will open on the Strip until Fontainebleau opens (I think sometime in 2014). This will give Las Vegas some time to absorb the 16,000 new hotel rooms that have opened in the last couple of years. The problem with the overcapacity of high end hotel rooms in Las Vegas is trying to sell them at high price points during the week (Sunday through Wednesday). I think Steve Wynn will be successful selling his high end hotel rooms and the rest I’m not so sure about.

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