Wednesday, September 6, 2006

Downtown Opportunities

Here's something I've been pondering for a while... with all of the high rise condos and Wynn-type casinos going up on the Strip, where does that leave the average Joe? In theory, as long as they keep selling, the high end market will continue to escalate, and prices will rise.

That leaves a golden opportunity for downtown (and by "golden" I don't just mean the Nugget). Downtown is currently known as a bargain paradise, with a few expensive and upscale exceptions. However, with a few changes and some ingenuity, it could really capture the mid-level market that the Strip is going to eventually price itself out of.

How can they do this? Well, they don't have a lot of real estate to build fountains, roller coasters, or pyramids. And, honestly, if they started doing that type of thing, they'd just be copycats. But they can take a page from the Strip's resorts and start upgrading some of their rooms. The best Strip hotels do this every few years - pull up the old carpet, install new chairs at the blackjack tables, change the curtains in the rooms. Downtown should do the same. Make the hotels and casinos a little bit more modern, nicer, you know, put some serious $$ into them. If a few of these places got on board, it would make a huge difference to the mid-level casino shopper. Then, Average Joe would start staying downtown and occasionally visit the Strip instead of lodging on the Strip and going downtown for the Fremont Street Experience.

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