Las Ramblas Becomes Dinner Table Joke

Where: Las Vegas, nv, United States, 89109

6/02/2006 at 12:05 PM
Tags: Las Ramblas, Hotel Closing

Remember the good old Las Ramblas days?

The $3 billion Related casino-hotel-condo project was to be backed by George Clooney, Rande Gerber would do the nightlife and Brad Pitt may have hopped in the mix as well.

Then Clooney went on Larry King Live and kept muttering "Mandatory Jackets." Soon rumors surfaced that the project was being pushed back. Finally, the whole thing fell to shambles.

Now, the Las Vegas Business Press analyzes what went wrong here and tries to find the answer as to how this project went from major news to a joke told at "local happy hours and dinner parties."

The biggest emerging factor for the demise is that it was too costly and didn't even offer views of the strip. Said one realtor:

The Las Ramblas concept and idea was beautiful, but it was too dense with 11 towers sandwiched between Hard Rock and the W. And it had no views of the Strip.

The property is expected to be sold within two weeks to Edge Resorts, the folks behind the W Las Vegas. Sadly, this is the third time developer Related has tried to break into Vegas and failed. But perhaps not all is lost. The lot is expected to sell at a higher price than when bought last year.

Related Stories:
· Related's Las Ramblas project is kaput [LV Business Press]