President Glenn Schaeffer announced plans to build a $65 million, 24-story, 320-unit time-share complex between the Mandalay Bay Resort and the Strip, and I-15. He also said a new 3200 room resort will be built next to Mandalay Bay on the Strip.

Paul: Was it announced when this would happen? Many times those announcements seem to be based more on speculation than pure fact, if you know what I mean. How many times have you read of different projects being announced and say to yourself, I'll believe it when I see it. I'm not saying this is the case, but after seeing so many announced projects go down the tubes, you start to wonder.

[This message has been edited by Veronica (edited July 26, 1999).]

You have to wonder where all the people will come from to fill these places. With all the rooms in town, Caesars was sold out last weekend. And almost everywhere is sold out the first week of Oct. When will there be too much?
I love it since it has to keep room rates low.

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John
Moderator-Dining Forum

John,
Mirage was sold out last weekend also. At least that's the story they gave me when I asked for the room upgrade.
Lee Ann

Lee Ann, My advice to anyone wanting to go to Las Vegas the first of Oct is to book a room at any "acceptable" hotel now. Then start to look for a better room/deal. At least you have a room if there isn't anything better.You can always cancel the first room if you find something better.

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John
Moderator-Dining Forum

Veronica, the way I heard it was they were going to break ground on the Condo first, next year, then depending on how the people count goes, break ground next year too on the new resort. They said that if the visitor counts keep going up like they have been they would start. This also goes for the Mirage's Holiday Inn project Wynn will start on his project early too.

Thank you, Paul, for that info. Let's see what happens with the predictions on the visitor counts. What do you think? Visitor increases will continue or level out or actually decrease?

[This message has been edited by Veronica (edited July 29, 1999).]

Paul,
I've given up on the news stories about what is going to happen in LV. It seems more never get built then do in the long run. So'll I'll beleive it when I see it! Unless you have inside information you want to share? <VBG>
Lee-PA

Veronica,
As far as the visitor count is concerned, I think it will continue on a gradual up trend. Actually the reason the "sooth sayers" are saying that Vegas will bust is the reason I think it will grow. They say that we keep overbuilding, but if you think about it, every time new Attractions are built the count increases. The exact reason they say we will have trouble, over built, is the reason that new and old people keep coming and coming back!. Just for argument sake, here are some figures, since Sept '98, the visitor count keeps climbing, and at an increase rate, these are figures over the year prior: Sept'98 +2.8%, Oct '98 +1.7%, Nov'98 +6.7%, Dec'98 +7.4%, Jan'99 +7.7%, Feb'99 +11.3%, Mar '99 +9.1%, Apr'99 +7.1%.
Business Tax revenues are climbing fast too, which is a indicator of economic strength too.


[This message has been edited by Paul in Vegas (edited July 28, 1999).]

Lee, Paris will open this year, the New Aladdin is the "only" new resort to open next year. I would guess that you

Paul: Thanks for your visitor increase predictions and for providing those statistics.

According to the Mandalay Resort Group's First Quarter Report, they will also build a high-end retail mall connecting Luxor and Mandalay Bay. Nordstrom's is expected to anchor the mall with a 210,000-square-foot store, scheduled to open in 2001. The current plans call for a three-level, 1.2-million-square-foot project with a retail bridge spanning Mandalay Bay Road...and more than 5000 parking spaces.