Two Way Hard Three | Las Vegas Casino & Design Blog

January 2, 2006

Las Vegas Condo-Hotels

Posted by detroit1051

The Las Vegas Sun reports that the first condo-hotels near the Strip will open in the first half of this year. The Residences at MGM Grand and The Platinum on Flamingo at Koval Lane are nearing completion. The MGM development has sold out two of its three towers and the third is 75% sold. The Platinum sold its 255 units in 39 days.

I looked at The Residences at MGM Grand when the sales office and mock-up units opened several years ago on MGM Grand's Studio Walk. The units were furnished very nicely, but they were basically large hotel rooms with small kitchens. Units were combined to create larger apartments. I may have misjudged the potential for condo-hotels because I couldn't understand paying $600,000-$1,000,000 to live in what amounts to an extension of MGM Grand. Does anyone here have experience with condo-hotels?

Developers Offering a New Kind of Suite Deal with Condo-hotels


Categories: Business of Gaming, Las Vegas Strip, MGM Resorts International


Comments

Read archived comments (1 so far)
January 26, 2006 8:46 AM Posted by Mike P.

Hunter,

I hope you don't mind a comment to a stale post, but this article from Time magazine might be of interest and the link belongs here. The title is Vegas condos go cold.

My wife and I have actually talked about looking at strip condos, mostly because we've been getting a little discouraged about room rates. We'd have to justify it as an investment though, and I don't think we can.

Mike P.