For this week’s Las Vegas Business Press column, I talk about the importance of renovation to Las Vegas today:
When The Cosmopolitan of Las Vegas opened its doors in December 2010, there was some regret: This was, we were assured, the last casino opening on the Strip for some time. In a town that had gotten used to one or more new resorts opening each year over the previous two decades with a few pauses, that was bad news. These days, renovation, not new construction, is the name of the game. That says a great deal about how the Strip will continue to remain competitive in the near future.
It’s a sign of the times, to be sure, that hotel renovations get the attention once reserved for casino openings. They are less dramatic, but I’d say they are no less important.