Close User Name Password
Login Register
Hotel stories straight to your inbox:

Tag: Las Vegas Sands View All Tags

Tags: / / / /

Things Go from Bad to Worse for Las Vegas Sands

Go To The Hotel's Web Site Where: Macau, China
November 17, 2008 at 12:47 PM | by AndrewC | 0 Comments

Rendering of the St Regis Tower (left) and the two Sheraton towers.

In all the news about Las Vegas Sands from the past week, we somehow missed that the construction of the Sheraton & St. Regis Macau is also being put on hold.

Both of these hotels were due to make a big splash on the Cotai Strip in Macau in the next two years as the Sheraton was to be the largest hotel on the strip with over 4,000 rooms (!!) and the St. Regis would have about 800 units, evenly split between luxury residences and hotel rooms.

Both hotels are well into construction, so the unfinished projects will be eyesores for people of Macau for who knows how long. The Las Vegas Sands has not given a timeframe as to when construction will begin again, only hinting that once "financing becomes available on acceptable terms" will they resume construction. Apparently all that extra money they raised last week wasn't for these developments.

Tags: / / / / / /

Construction on St. Regis Las Vegas Gets Stopped

November 11, 2008 at 3:00 PM | by juliana | 0 Comments

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!

Related Stories:
· The Venetian and the Palazzo Might Go Bankrupt But Room Rates Aren't Dropping [HotelChatter]
· Snapshot :: Echelon's Construction Ghost Town [HotelChatter]

Tags: / / / / / /

The Venetian and the Palazzo Might Go Bankrupt But Room Rates Aren't Dropping

Go To The Hotel's Web Site Where: 3355 Las Vegas Boulevard South [map], Las Vegas, NV, United States, 89109
November 7, 2008 at 12:52 PM | by juliana | 0 Comments

While things look gloomy in Atlantic City, things are even worse in Las Vegas. Las Vegas Sands, the casino company that owns Venetian and The Palazzo in Las Vegas as well as the Venetian in Macao, is facing mountains of debt and could declare bankruptcy, according to Bloomberg News. The sole reason? The properties are simply not generating enough money.

We think the woes may also be traced back to the Palazzo which opened late and got off to a bad start. Throw in the high-end luxury shops that no one is shopping in anymore (including the glorious Barneys New York department store), the fancy expensive meals people are forgoing and the construction of a third Palazzo tower, which will now be a St. Regis, it's no wonder the Las Vegas Sands is having tough times.

more ›