Archive for October, 2008

Las Vegas has Economic Woes

Thursday, October 16th, 2008

Las Vegas has Economic Woes with Rest of Country

In many ways, the city of Las Vegas is not really a belle weather as many people think. A lot of people like to look at Las Vegas and decide based on what is going on within the city how things are going in the rest of the country, but that is really backwards in terms of the actual logic. It would be more accurate to say that the United States of America as a whole is a belle weather for Las Vegas and this is primarily because the city of Las Vegas derives its main income flows from the rest of the USA.
Think about it from a logical standpoint. When people come to the city of Las Vegas, they are hoping to kick back and relax. Some people do this by gambling while others do it through other methods, but the main reason that people come to Las Vegas is to take a vacation and forget their cares and worries for awhile. Because of this Las Vegas has long been a city dominated by income from tourism venues and tourism income by definition depends on tourists to be sustainable. When tourists do not come, people that are in the tourism industry suffer. It is for this reason that it is way more accurate to think of Las Vegas’ economic well being as being a function of the economic state of the rest of the country.

Unless you’ve been under a rock for the last month, you know that things are not going well for the US economy as a whole. The government is going to be bailing out companies left and right with trillions of dollars worth of money and of course the American dollar has gone downhill as a result of that kind of inflation. However, many people in Middle America and elsewhere around the country have been hit hard as well, with layoffs and salary decreases coming left and right as a result of the massive economic woes the country is currently facing. For this reason, many people can not afford to travel this year and the trips to Las Vegas that normally came about during the summer months are no longer happening and that in turn is negatively affecting the economy of Sin City.

A good example of this would be Westgate Resorts, a company that is responsible for booking time shares for such famous casinos as Planet Hollywood Casino in Las Vegas. The current economic times have gotten so bad for them that they have had to lay off at least 200 of their workers. The main reason for this is that resort companies like Westgate depend on constant expansion to survive and keep their employees in work and when this does not happen (or is delayed in the case of many current resort projects in Las Vegas), bad things start to happen. While there have thankfully been no company collapses in Las Vegas, it is something that could still conceivably happen in the near future.

The Palazzo Las Vegas is Open for Business

Sunday, October 12th, 2008

Las Vegas as a town is always a place that has known when to change with the times. It is a place that knew when gambling was no longer good enough by itself to form the staple of the town’s tourism industry and it knew when it was time to build things bigger and better in order to attract a different kind of crowd. Las Vegas is also a city that has known to build in layers so that the previous activities are always accessible to the people that have wanted them and for this reason Las Vegas is a city that has been able to build layers of tourists on top of each other in order to maintain the forward momentum of their numbers.

For this reason, it is perhaps no surprise to anyone that Las Vegas has started to invest in bigger and grander things. These things are designed to have two purposes. The first purpose is to attract the crowd of extremely wealthy people that are not interested in gambling and the second is to attract families with affordable luxury combined with amenities and activities that the whole family can enjoy. For this reason, Las Vegas has transformed its reputation from being nothing but a den for the seediest individuals imaginable to being a wholesome family experience that even the youngest of children can enjoy because of the activities available.

The latest in the line of resorts that put forward that second claim is The Palazzo Las Vegas. The Palazzo is a resort that was created to be a sister resort to The Venetian, but it really does have a style all its own. To start with, the tower itself is very impressive in terms of the architecture and it is something that people would enjoy from day one right through to the final saying. It is one of the most photogenic buildings around and because of that there are many people around that would enjoy The Palazzo just looking at it from the outside.

However, the inside of the building is perhaps even more impressive than the outside. A combination of the most luxurious things imaginable as well as large open spaces for the different rooms that people can book have made The Palazzo an overnight hit with most people that have already been there. In just a few short days it has catapulted itself to the top of the most talked about list in Las Vegas and that is an accomplishment worth nothing. Overall however, the luxury of The Palazzo is only appealing because it is affordable and attainable for most people and that in the end is what makes the resort as popular as it currently is.

Finally, it is also a resort in the spirit of Las Vegas resorts and that means activities that can be done inside. These include recreational activities like swimming, golfing and gambling as well as beauty enhancement spas and salons for people to really enjoy themselves and go to town. The Palazzo has it all and in the end it will be resorts like this one that revitalize the city of Las Vegas yet again.