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Construction on St. Regis Las Vegas Gets Stopped
There's a lot to be blue about in Las Vegas.
Last week the Las Vegas Sands (owners of the Venetian and Palazzo and a few other big hotel-casinos) made the semi-shocking announcement that they were nearing bankruptcy and today another blow came to the Las Vegas Strip courtesy of the LV Sands--construction on the St. Regis condo tower which borders the Venetian and Palazzo and is owned by the LV Sands has been halted. Globe Street reports:
In the US, Las Vegas Sands has stopped work on a $600-million, 400-unit, high-rise condominium tower it was developing on the Las Vegas Strip, in front of its new Palazzo resort, but will complete the retail podium....It will consider recommencing construction when conditions improve, at which point it would take 18 months to complete the project.
Uh-oh. Guests staying in the Palazzo or the Venetian might have ghost town construction site views from their rooms. Much like we had of the halted Echelon project from the Trump Tower. Eeeek. Vegas, Get Better!
· The Venetian and the Palazzo Might Go Bankrupt But Room Rates Aren't Dropping [HotelChatter]
· Snapshot :: Echelon's Construction Ghost Town [HotelChatter]