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Posted At : February 2, 2009 10:35 AM | Posted By : D McKee
Related Categories:
Harrah's,Mesquite,TV,Marketing,Phil Ruffin,Current,The Strip,Economy,Columbia Sussex,Donald Trump
Mesquite casino oligopolist Randy Black bought himself some TV ad time during the Super Bowl to tout his latest value proposition (starring one Randy Black). His opening gambit: "Everybody's cutting back." Uh no, not if you're Randy Black and just served yourself a nice pay increase while skipping loan payments and sacking the help. But we digress ...
What's Randy's big value message? A midweek rate of $99/night, which gets you either a free spa treatment or a round of golf. The prospect of a $99 golf game or spa visit had better be pretty strong, because there's certainly no point in hauling ass out to Mesquite for a $99 hotel room, not when you can stay at Planet Hollywood this week for that little -- or for even less at The Rio or the Flamingo, to name two of the nicer propositions. (If your standards are more flexible, you can stay on or very, very near the Strip for $20.)
Columbia Sussex continues to live in a dream world, demanding $249/night midweek for the Westin Casuarina. Heck, you could stay at Trump International for less than half that amount. Donald Trump and Phil Ruffin really let both the condo market and the budget get away from them on the latter, whose budget quadrupled to a final $1.2 billion. But it's not one of those properties (I'm looking at you, Aladdin) where you walk around and wonder, "Where did the money go?"
The recent discounting binge on the Strip may have done its job. J.P. Morgan reports "we are finding that casino operators are reducing the number of promotions that are available by and large" and theorizes, "operators have built up a book of occupancy that enables them to not have to rely on a promotional environment." If that's the case and promotional-rate offers continue to dwindle, it's a classic case of gather ye rosebuds while ye may.
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