Hotel & Motel Management - March 2009 - (Page 47)

H&MM March 2009 | HotelWorldNetwork.com “People are realizing they don’t have to go to Vegas to gamble.” SHANNON OKADA, HVS’ GAMING DIVISION News & Analysis INDUSTRY COVERAGE age and, especially, gaming revenue to make up for losses in roomnight revenue. “You’re able to ﬂoat that occupancy. That’s why you see rates dropping—it is being subsidized by gaming,” Okada said. He said the freestanding hotels have the operators who are “really scared” because rates can only fall so far before proﬁts disappear. jfreed@questex.com ONLINE EXTRA: To read about the delayed construction of CityCenter’s Harmon Hotel, visit www.HotelWorldNetwork.com, keywords “Harmon Hotel.” 47 Las Vegas Continued from page 1 Two major projects similar in size and scope are headed in different directions. MGM Mirage’s CityCenter recently began accepting reservations at Vdara Hotel (opening October 1) and Aria Resort & Casino (opening December 16). Meanwhile, after reportedly spending $600 million to get the Echelon project underway, Boyd Gaming announced last summer that the ﬁve-hotel, 5,000-guestroom project will be put on hold at least until the market rebounds. Other major developments in Las Vegas that are continuing to move forward are: Fontainbleau Casino-Resort, a $2.9-billion project slated for early 2010; the Cosmopolitan Resort and Casino, despite Deutsche Bank’s foreclosure on the project; a renovation of the Hard Rock Hotel & Casino, adding 875 guestrooms to open in late 2009; and the M Resort, opening shortly in Henderson, Nev. In December 2008, Encore was able to open adjacent to the Wynn Las Vegas despite topping off amid an economic crash. Other projects that have been postponed or canceled include: a replica of the New York Plaza Hotel, which has been delayed and is expected to open in 2013; a remodeling of the Sahara Hotel & Casino, which was approved but has no announced timetable for completion; and the completion of a sixth tower at Caesars Palace that has been suspended indeﬁnitely. “Several gaming operators in Las Vegas have announced reductions in their maintenance [capital expenditure] budgets and scaled back renovation plans in an effort to conserve capital until the economy rebounds,” said Gary Thompson, director of corporate communications for Harrah’s Entertainment. Shannon Okada, associate director of the gaming division at HVS, said consumer demand plays heavily into the decision to develop in Las Vegas. In the past, he said, there were waves when several properties opened around the same time and attracted a lot of visitors. This time, he said, that may not be the case. “Recently, new supply hasn’t had the same impact,” Okada said. “Everyone has looked at the potential of CityCenter on driving visitation, but now everyone is being cautious. Have we reached the saturation point?” “Demand is at the center of considering a new project and, since demand has softened in Las Vegas, projects will be on hold for awhile,” Aziz said. Okada said measuring the importance of demand in Las Vegas is tricky because some properties can justify retail, food and bever- Visit the HotelWorld Network’s new website: www.HotelWorldNetwork.com Get combined coverage from Hotel & Motel Management, Hotel Design, Luxury Hotelier and The Hotel Times magazines all in one. Breaking news, recent transactions, design features and more! The leading source of hospitality information. http://www.HotelWorldNetwork.com http://www.HotelWorldNetwork.com http://www.HotelWorldNetwork.com http://www.HotelWorldNetwork.com

Table of Contents Feed for the Digital Edition of Hotel & Motel Management - March 2009

Hotel & Motel Management - March 2009 Contents News Perspective Green Focus Legally Speaking Franchise Law Sales Clinic Legal FAQ Trends & Stats Timeshare On Finance Management Companies Stuggle to Cut Costs While Keeping Guest Satisfaction Up Top Third-Party Management Companies Chart Hot Products Technology Marketplace Ad/Editorial Index Checking Out

Hotel & Motel Management - March 2009

Hotel & Motel Management - March 2009 - Hotel & Motel Management - March 2009 (Page Cover1) Hotel & Motel Management - March 2009 - Hotel & Motel Management - March 2009 (Page Cover2) Hotel & Motel Management - March 2009 - Contents (Page 3) Hotel & Motel Management - March 2009 - News (Page 4) Hotel & Motel Management - March 2009 - News (Page 5) Hotel & Motel Management - March 2009 - Perspective (Page 6) Hotel & Motel Management - March 2009 - Perspective (Page 7) Hotel & Motel Management - March 2009 - Green Focus (Page 8) Hotel & Motel Management - March 2009 - Green Focus (Page 9) Hotel & Motel Management - March 2009 - Legally Speaking (Page 10) Hotel & Motel Management - March 2009 - Legally Speaking (Page 11) Hotel & Motel Management - March 2009 - Franchise Law (Page 12) Hotel & Motel Management - March 2009 - Franchise Law (Page 13) Hotel & Motel Management - March 2009 - Sales Clinic (Page 14) Hotel & Motel Management - March 2009 - Sales Clinic (Page 15) Hotel & Motel Management - March 2009 - Legal FAQ (Page 16) Hotel & Motel Management - March 2009 - Legal FAQ (Page 17) Hotel & Motel Management - March 2009 - Trends & Stats (Page 18) Hotel & Motel Management - March 2009 - Trends & Stats (Page 19) Hotel & Motel Management - March 2009 - Timeshare (Page 20) Hotel & Motel Management - March 2009 - Timeshare (Page 21) Hotel & Motel Management - March 2009 - On Finance (Page 22) Hotel & Motel Management - March 2009 - On Finance (Page 23) Hotel & Motel Management - March 2009 - Management Companies Stuggle to Cut Costs While Keeping Guest Satisfaction Up (Page 24) Hotel & Motel Management - March 2009 - Management Companies Stuggle to Cut Costs While Keeping Guest Satisfaction Up (Page 25) Hotel & Motel Management - March 2009 - Top Third-Party Management Companies Chart (Page 26) Hotel & Motel Management - March 2009 - Top Third-Party Management Companies Chart (Page 27) Hotel & Motel Management - March 2009 - Top Third-Party Management Companies Chart (Page 28) Hotel & Motel Management - March 2009 - Top Third-Party Management Companies Chart (Page 29) Hotel & Motel Management - March 2009 - Top Third-Party Management Companies Chart (Page 30) Hotel & Motel Management - March 2009 - Top Third-Party Management Companies Chart (Page 31) Hotel & Motel Management - March 2009 - Top Third-Party Management Companies Chart (Page 32) Hotel & Motel Management - March 2009 - Top Third-Party Management Companies Chart (Page 33) Hotel & Motel Management - March 2009 - Top Third-Party Management Companies Chart (Page 34) Hotel & Motel Management - March 2009 - Top Third-Party Management Companies Chart (Page 35) Hotel & Motel Management - March 2009 - Top Third-Party Management Companies Chart (Page 36) Hotel & Motel Management - March 2009 - Hot Products (Page 37) Hotel & Motel Management - March 2009 - Technology (Page 38) Hotel & Motel Management - March 2009 - Technology (Page 39) Hotel & Motel Management - March 2009 - Technology (Page 40) Hotel & Motel Management - March 2009 - Technology (Page 41) Hotel & Motel Management - March 2009 - Technology (Page 42) Hotel & Motel Management - March 2009 - Technology (Page 43) Hotel & Motel Management - March 2009 - Marketplace (Page 44) Hotel & Motel Management - March 2009 - Marketplace (Page 45) Hotel & Motel Management - March 2009 - Marketplace (Page 46) Hotel & Motel Management - March 2009 - Marketplace (Page 47) Hotel & Motel Management - March 2009 - Ad/Editorial Index (Page 48) Hotel & Motel Management - March 2009 - Ad/Editorial Index (Page 49) Hotel & Motel Management - March 2009 - Ad/Editorial Index (Page 50) Hotel & Motel Management - March 2009 - Ad/Editorial Index (Page 51) Hotel & Motel Management - March 2009 - Ad/Editorial Index (Page 52) Hotel & Motel Management - March 2009 - Ad/Editorial Index (Page 53) Hotel & Motel Management - March 2009 - Checking Out (Page 54) Hotel & Motel Management - March 2009 - Checking Out (Page Cover3) Hotel & Motel Management - March 2009 - Checking Out (Page Cover4) http://www.nxtbook.com/nxtbooks/questex/hmm_200912http://www.nxtbook.com/nxtbooks/questex/hmm_20091123http://www.nxtbook.com/nxtbooks/questex/hmm_20091109http://www.nxtbook.com/nxtbooks/questex/hmm_20091019http://www.nxtbook.com/nxtbooks/questex/hmm_200910http://www.nxtbook.com/nxtbooks/questex/hmm_200909http://www.nxtbook.com/nxtbooks/questex/hmm_200908http://www.nxtbook.com/nxtbooks/questex/hmm_200907http://www.nxtbook.com/nxtbooks/questex/hmm_20090615http://www.nxtbook.com/nxtbooks/questex/hmm_200906http://www.nxtbook.com/nxtbooks/questex/hmm_200906_voichttp://www.nxtbook.com/nxtbooks/questex/hmm_200905http://www.nxtbook.com/nxtbooks/questex/hmm_200904http://www.nxtbook.com/nxtbooks/questex/hmm_200903http://www.nxtbook.com/nxtbooks/questex/hmm_200902http://www.nxtbook.com/nxtbooks/questex/hmm011909http://www.nxtbook.com/nxtbooks/questex/hmm122908http://www.nxtbook.com/nxtbooks/questex/hmm120808http://www.nxtbook.com/nxtbooks/questex/hmm111708http://www.nxtbook.com/nxtbooks/questex/hmm110308http://www.nxtbook.com/nxtbooks/questex/hmm102008http://www.nxtbook.com/nxtbooks/questex/hmm100608http://www.nxtbook.com/nxtbooks/questex/hmm091508http://www.nxtbook.com/nxtbooks/questex/hmm090108http://www.nxtbook.com/nxtbooks/questex/hmm0808http://www.nxtbook.com/nxtbooks/questex/hmm072108-voichttp://www.nxtbook.com/nxtbooks/questex/hmm072108http://www.nxtbook.com/nxtbooks/questex/hmm070708http://www.nxtbook.com/nxtbooks/questex/hmm061608http://www.nxtbook.com/nxtbooks/questex/hmm060208http://www.nxtbook.com/nxtbooks/questex/hmm051908http://www.nxtbook.com/nxtbooks/questex/hmm050508http://www.nxtbook.com/nxtbooks/questex/hmm042108http://www.nxtbook.com/nxtbooks/questex/hmm040708http://www.nxtbook.com/nxtbooks/questex/hmm031708http://www.nxtbook.com/nxtbooks/questex/hmm030308http://www.nxtbook.com/nxtbooks/questex/hmm021808http://www.nxtbook.com/nxtbooks/questex/hmm020408http://www.nxtbook.com/nxtbooks/questex/hmm010708http://www.nxtbook.com/nxtbooks/questex/hmm122707http://www.nxtbook.com/nxtbooks/questex/hmm121007http://www.nxtbook.com/nxtbooks/questex/hmm111907http://www.nxtbook.com/nxtbooks/questex/hmm110507http://www.nxtbook.com/nxtbooks/questex/hmm101507http://www.nxtbook.com/nxtbooks/questex/hmm100107http://www.nxtbook.com/nxtbooks/questex/hmm091807http://www.nxtbook.com/nxtbooks/questex/hmm090307http://www.nxtbook.com/nxtbooks/questex/hmm080607http://www.nxtbook.com/nxtbooks/questex/hmm071607http://www.nxtbook.com/nxtbooks/questex/hmm070207http://www.nxtbook.com/nxtbooks/questex/hmm061807http://www.nxtbook.com/nxtbooks/questex/hmm060407http://www.nxtbook.com/nxtbooks/questex/hmm052107http://www.nxtbook.com/nxtbooks/questex/hmm050707http://www.nxtbook.com/nxtbooks/questex/hmm041607http://www.nxtbook.com/nxtbooks/questex/hmm040207http://www.nxtbook.com/nxtbooks/questex/hmm031907http://www.nxtbook.com/nxtbooks/questex/hmm030507http://www.nxtbook.com/nxtbooks/questex/hmm021907http://www.nxtbook.com/nxtbooks/questex/hmm020507http://www.nxtbook.com/nxtbooks/questex/hmm010807http://www.nxtbook.com/nxtbooks/questex/hmm121106http://www.nxtbook.com/nxtbooks/questex/hmm112006http://www.nxtbook.com/nxtbooks/questex/hmm110606http://www.nxtbook.com/nxtbooks/questex/hmm101606http://www.nxtbook.com/nxtbooks/questex/hmm-minibarhttp://www.nxtbook.com/nxtbooks/questex/hmm100206http://www.nxtbook.com/nxtbooks/questex/hmm091806http://www.nxtbook.com/nxtbooks/questex/hmm090406http://www.nxtbook.com/nxtbooks/questex/hmm080706http://www.nxtbook.com/nxtbooks/questex/hmm071706http://www.nxtbook.com/nxtbooks/questex/hmm070306http://www.nxtbook.com/nxtbooks/questex/hmm061906http://www.nxtbook.com/nxtbooks/questex/hmm060506http://www.nxtbook.com/nxtbooks/questex/hmm051506http://www.nxtbook.com/nxtbooks/questex/hmm041706http://www.nxtbook.com/nxtbooks/questex/hmm040306http://www.nxtbook.com/nxtbooks/questex/hmm032006http://www.nxtbook.com/nxtbooks/questex/hmm030606http://www.nxtbook.com/nxtbooks/questex/hmm022006http://www.nxtbook.com/nxtbooks/questex/hmm020206http://www.nxtbook.com/nxtbooks/questex/hmm010906http://www.nxtbookMEDIA.com

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.