'Tis another day of hopscotching betwixt the doctor and the dentist, which sure cuts into quality blogging time (as did a nasty attack of fibromyalgia yesterday). However, by reader request, we present this special, (not) exclusive S&G photo of a special plenepotentiary Apollo [Mis]Management representative — perhaps Leon Black himself …
… contemplating piling additional money into Fontainebleau.
Serously, overspending — not lack of business — is what really got this town into its present pickle. Profligacy and/or dangerous incompetence at the highest levels are the true culprits for the Vegas meltdown. Yet it is people like maids, cocktail servers, security staff and — by extension — customers who are literally paying the price for clownery in the executive suites.
F'bleau and Cosmopolitan need to take a page from the Echelon playbook: Say "that's a wrap" and wait 'til the economy improves, attendant litigation is settled and the tsunami of new hotel rooms that is CityCenter has ebbed a bit. We don't need multiple new megaresorts now for the simple fact that the market will not support them.
Then again, if Harrah's Entertainment or Wynn Resorts wants to sail its luxury liner straight into the Big Bleau iceberg (or the Cosmo) … it's their money. Just don't complain to the press when you can't get triple-digit room rates, 'kay?
