Over-the-Top Building Boom in Las Vegas: The Newest Batch of Hotels
Americans — and an increasing number of foreigners — can’t seem to get enough of Las Vegas. The current construction craze is driven by a 95 percent weekend occupancy rate — and rates that approach 100 percent at the city's newer properties. Last year, even the weekday rate fell just shy of 90 percent, partly because of the city’s success in positioning itself as an attractive convention destination.
Here's a taste of what's to come. The Venetian is opening a 3,200 suite tower, which will bring its room count to more than 7,000; $4.4 billion Echelon Place will open on the site of the old Stardust; the mammoth Project CityCenter will cost MGM Mirage $7 billion, the most expensive development in Vegas history.
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